After going through tough phase in the mid years of last decade, diesel genset market recovered with full pace. Increasing infrastructure projects like defense, railway, subway (metro), and roads and growing industrial capex boosted the demand for diesel genset across the globe. These gensets are the crucial part of every industry but in areas where grid transmission is not unavailable, they become backbone of overall operations. For instance, in oil & gas field, all the machineries, rigs, and employees bunker run with the help of genset. Further, in telecom tower, genset are a key component in overall operation as during the power cut, they provide continuous support to the telecom towers. Moreover, players operating in the market are investing heavily in research & development activities in order to produce new innovative products like digitally enabled genset. This is further making the market competitive, thus propelling in the market growth.
Based on power requirement, the market is bifurcated into prime and backup. Of both, backup category dominated the market and is expected to retain its position during the forecast period as well owing to low power deficit situations and improving grid-based power transmission across the globe.
On the basis of power rating, the market is categorized into 5kVA-75kVA, above 75kVA-350kVA, above 350kVA-750 kVA, and above 750 kVA. Among these, xx category dominated the market with a revenue share of xx% in 2020. Further, the category is expected to reach $xx billon by the end of forecast period, demonstrating a CAGR of xx%.
Based on mobility, the market is bifurcated into stationary and portable. Among both, stationary category captured the larger market share in 2020 and is expected to growth a rate of xx% during the forecast period to reach $xx billion by 2027.
Based on end-user, the market is divided into commercial, industrial, and residential. Commercial category dominated the market owing to increasing demand for corporate offices, shopping complex, data centers in developing and emerging economies. Further, well developed data center sector in western economies aiding in the growth of commercial sector.
For better understanding of the market, the report provides detail analysis for major region and country including North America (US, Canada, rest of North America); Europe (Germany, UK, France, Spain, rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific) and Rest of World. Currently Asia-Pacific dominated the market and is expected to maintain its dominance throughout the forecast period.
Some of the major companies operating in the global diesel genset market includes Caterpillar Inc., Cummins Inc., AB Volvo, Atlas Copco AB, Kohler Co., Kirloskar Oil Engines Limited, Siemens AG, Generac Holding Inc., General Electric Company, and Denyo Co. Ltd.