Global Diesel Genset Market is expected to reach USD 21.37 billion by
2022. The presence of a large electricity demand-supply gap owing to increase
in demand from of mining, telecom, retail and oil & gas sector, is
projected to drive diesel gensets industry.
The market for industrial use was
valued at USD 3.93 billion in 2014. Industrial Diesel Genset is expected to
grow substantially over the forecast period owing to the occurrence of frequent
power failures resulting in high monetary losses. Furthermore, rapid
industrialization in Asia Pacific and the Middle East & Africa is expected
to fuel industry growth.
The market was dominated by low
powered gensets in 2014, and this trend is projected to continue over the
forecast period. Growing power shortage in countries including Singapore, China
and India is expected to further fuel growth. Furthermore, rising occurrence of
natural calamities such as floods and earthquakes is projected to bolster
further demand for gensets, to supply interrupted electricity during a grid
outage.
Browse full research report on Global
Diesel Genset Market: http://www.grandviewresearch.com/industry-analysis/diesel-gensets-industry
According to The World Nuclear
Association, the power requirement is expected to double than the current
consumption by 2035. The U.S. Department of Energy has projected solar energy
to be the most abundant energy source available giving rise to the development
of solar powered gensets. This development is likely to pose a challenge to the
overall growth of the industry over the forecast period.
Growing demand for the product in
retail, hospitality and IT sectors globally is poised to propel the demand for
high power diesel gensets. High power Diesel Genset market is expected to grow
at a CAGR of more than 7% over the forecast period.
Asia Pacific is poised to witness
substantial growth, growing at a CAGR of over 8.0% from 2015 to 2022.
Increasing capacity expansion of manufacturing and telecom sectors particularly
in countries such as China and India is expected to drive demand over the next
seven years. In addition, government policies such as “Make in India” policy by
the Indian government is expected to fuel growth.
The Middle East & Africa is
expected to reach over USD 2.80 billion by 2022. Technological development
coupled with growing purchasing parity in UAE and Saudi Arab is supposed to
fuel market growth over the forecast period.
Some of the major players include
Himoinsa S.L, Caterpillar Inc., Cummins Inc., F.G.Wilson Inc., Kirloskar
Electric Co. Ltd. Companies continuously spend a considerable amount for
R&D activities to develop and enhance their portfolio of the product.
Himoinsa partnered with Yanmar in April 2015 to strengthen their product
portfolio.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented
the global Diesel Genset Market on the basis of product, end-use and region:
Global Diesel Gensets Product Outlook (Revenue, USD
Million, 2012 - 2022)
- Low Power Gensets
- Medium Power Gensets
- High Power Gensets
Global Diesel Gensets End-use Outlook (Revenue, USD
Million, 2012 - 2022)
- Residential
- Commercial
- Industrial
Global Diesel Gensets Regional Outlook
(Revenue, USD Million, 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
- Saudi Arabia
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Grand View Research, Inc. is a
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