Global Diesel Generator Set Market, Forecast to 2022

Grid Instability and Environmental Awareness Drive Double-digit Market Growth in the Short Term

Future energy trends are expected to be governed by both the level and pattern of economic activity along with global demographic changes. The positive economic outlook globally is a result of the pickup in global trade, investment, and industrial production. Advanced economies witnessed strong domestic demand and output growth in 2017, while emerging market economies witnessed strong capital inflows, accompanied by improved business sentiment.

Unprecedented energy demand, paired with an increasing frequency of power outages, is driving the global market for reliable backup power. Erosion in end-user confidence on the grid for reliable power services, as well as heightened awareness of the imminent dangers of outage-related incidents in the wake of natural disasters, spurs investment in diesel stationary generator sets (gensets). While the researchers believe that factors such as mass consumer marketing channels and attractive pricing will drive stationary genset demand further, the global power generation market is highly competitive; participants must contend with large diversified industrial companies as well as smaller, niche-driven mobile and rental generator manufacturers.

This research valued the global diesel generator set market at $11.76 billion in 2017. Factors including the rising electricity consumption worldwide, along with economic trends such as global Gross Domestic Product (GDP) growth recovery and landmark tax reforms, are likely to drive the global diesel generator set market growth during the next 5 years.