Diesel Genset Market to be Driven by Surge in Concerns for Power Outages; Market to Grow with a CAGR of 6.50% During 2021-2030
Diesel Genset Market Is Expected To Grow With A CAGR of 6.50% By 2030
Power outages in firms worldwide grew from 2.42 numbers in the year 2019 to 6.19 numbers in the year 2020, according to the statistics by the World Bank.
The statistics portray the growing concerns for the rising power outages in industries worldwide. As business organizations are highly dependent on electricity to continue with their production processes, power outage can significantly hamper their profitability. Owing to such a factor, there is a growing demand for standby power backup sources, such as diesel generator sets, which in turn is anticipated to drive the growth of the global diesel genset market.
The global diesel genset market is anticipated to grow with a CAGR of 6.50% during the forecast period, i.e., 2021-2030. The market is further expected to touch USD 30406.18 Million by the end of 2030, up from USD 16198.16 Million in the year 2020. The market is segmented by type into small (0-75 KVA), medium (75-375 KVA), and High (above 375 KVA). By the end of 2030, the small (0-75 KVA) segment is expected to garner the largest revenue of USD 14473.34 Million, and further grow with the highest CAGR of 7.06% during the forecast period. Besides this, in the year 2020, the segment attained a revenue of USD 7315.40 Million.
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Regionally, the global diesel genset market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific, out of the market in all other regions, is expected to touch the largest revenue of USD 12557.8 Million by the end of 2030, up from a revenue of USD 5814.0 Million in the year 2020. The market in the region is further segmented by country into China, India, Japan, Malaysia, South Korea, Australia, and the Rest of Asia Pacific, out of which, the market in China is expected to garner the largest market revenue of USD 6216.09 Million by the end of 2030.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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However, the growing concerns for environmental pollution caused due to diesel generators is one of the major factors anticipated to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global diesel genset market, which includes company profiling of Cummins, Inc., Caterpillar Inc., Generac Power Systems, Inc., Mitsubishi Heavy Industries, Ltd., Rolls-Royce Power Systems AG, AKSA POWER GENERATION (KAZANCI HOLDING), Cooper Corp., Briggs & Stratton Corporation, Atlas Copco, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Diesel Genset Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global diesel genset industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global diesel genset market in the near future.
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