Global Diesel Genset Market Outlook 2030

Diesel gensets are used as a backup source for producing electricity, especially when there is a power outage. It includes a combination of a diesel engine with an electric generator. Diesel gensets are deployed in places without connection to a power grid, or as emergency power-supply if the grid fails, as well as for more complex uses, such as, peak-lopping, grid support and for export to the power grid. The global diesel genset market is anticipated to grow with a CAGR of 6.50% during the forecast period, i.e., 2021-2030. Factors such as the growing demand for electricity amongst business organizations, backed by the surge in urbanization, and rising industrialization, and the growing need for reliable power sources, are anticipated to drive the market growth. Moreover, factors such as the growing concern for the rising number of power outages worldwide, is also expected to accelerate the growth of the market in the coming years. The market registered a revenue of close to USD 16200 Million in the year 2020, and is further projected to cross USD 30400 Million by the end of 2030.

The global diesel genset market is segmented by numerous segments, which include segmentation by type, mobility, cooling system, application, end-user, and by region. On the basis of type, the market is segmented into small (0-75 KVA), medium (75-375 KVA), and High (above 375 KVA). The small (0-75 KVA) segment, out of all other segments, attained the largest revenue of about USD 7315 Million in the year 2020, and is further anticipated to reach a revenue of near to USD 14470 Million by the end of 2030. Besides this, the segment is also expected to grow with the highest CAGR of about 7% during the forecast period.

The global diesel genset market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Surge in the number of business organizations in the region is one of the major factors anticipated to drive the demand for diesel gensets, and in turn contribute to the market growth in the Asia Pacific. The market in the region registered the largest revenue of around USD 5800 Million in the year 2020, and is further predicted to reach USD 12560 Million approximately by the end of 2030.

Some of the prominent industry leaders in the global diesel genset market that are included in our report are 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.