Market Research Future Insights
According to MRFR analysis, the Diesel Generator Market is expected to register a CAGR of~8.70% from 2023 to 2030 and hold a value of over USD 30.89 billion by 2030.
The Diesel Generator Market refers to the global market for diesel-powered generators that are used to generate electricity. Diesel generators are commonly used in places where there is no access to the power grid or during power outages.
The market includes the production, sale, and distribution of diesel generators of different sizes and power output capacities, as well as the associated services, such as installation, maintenance, and repair. The market is highly competitive, with numerous manufacturers and suppliers offering a wide range of products to meet the diverse needs of customers in different regions and industries.
The COVID-19 pandemic had a significant impact on the global Diesel Generator Market. The pandemic has disrupted global supply chains, affecting the availability of raw materials and components needed to manufacture diesel generators. This has led to delays in production and increased prices of finished products.
The lockdowns and restrictions imposed by governments to control the spread of the virus have led to a reduction in demand for diesel generators in some sectors, such as the construction industry, which has slowed down significantly.
Some of the key market players are:
- Kirloskar Electric Company (India)
- Denyo Co Ltd (Japan)
- Greaves Cotton Limited (India)
- Ashok Leyland (India)
- Mitsubishi Heavy Industries Ltd (Japan)
- Rolls-Royce plc (UK)
- WÃrtsilÃ (Finland)
- Caterpillar (US)
- Cummins Inc (US)
Asia Pacific is currently the largest region for the Diesel Generator Market. The growth of the Asia Pacific Diesel Generator Market is driven by factors such as rapid industrialization, urbanization, and a growing demand for reliable backup power.
In countries such as China and India, which have large populations and rapidly developing economies, the demand for diesel generators is high due to frequent power outages and an unreliable power grid. The increasing adoption of diesel generators in other sectors such as healthcare, data centers, and telecommunication infrastructure has also contributed to the growth of the market.
The Backup power generators Market has been segmented into application and end-use.
Based on the application, the market has been segmented into prime power, standby power and peak shaving.
Based on the end-use, the market has been segmented into industrial, commercial and agriculture.