Diesel Genset Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Diesel Genset Market Insights

According to a report from Zion Market Research, the global Diesel Genset Market was valued at USD 16.86 Billion in 2023 and is projected to hit USD 27.89 Billion by 2032, with a compound annual growth rate (CAGR) of 5.2% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Diesel Genset Market industry over the next decade.

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Diesel Genset Market: Introduction

Diesel Genset is a blend of diesel engine and electric generator and is utilized for producing electric energy. Moreover, Diesel Genset also referred to as a diesel generating set is used in locations that do not have a connection to the electric grid. It is also used for providing power supply in case of contingencies as well as during grid power failures or power outages. Diesel Genset is utilized in peak lopping and grid support. Furthermore, the Diesel Genset has the ability to operate for many hours.

• Diesel generators (gensets) are systems that turn the chemical energy in diesel fuel into mechanical energy, which is then converted into electricity. They typically include a diesel engine, an alternator, and support components like fuel tanks and control systems. Diesel generator sets are widely utilized in a variety of applications, including backup power for residential and commercial structures, remote area power delivery, and sectors such as construction, telecommunications, and agriculture that require regular electricity. Their durability, efficiency, and capacity to work in severe settings make them suitable for both temporary and permanent installations.
• The future of diesel generators is changing due to technological breakthroughs and increased environmental laws. Innovations in hybrid systems that mix diesel with renewable energy sources like solar or wind are gaining ground, increasing efficiency and lowering pollution.
• The incorporation of smart technologies, such as IoT for real-time monitoring and predictive maintenance, is projected to boost performance and dependability. However, as the global push for cleaner energy sources continues, diesel generators’ long-term survival will be determined by their adaptability and the development of cleaner alternatives, putting them in a broader context of sustainable energy solutions.

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Market Growth Drivers

The expansion of the Diesel Genset industry over the forecast timeframe is attributed to an escalation in the requirement for a constant & stable electric supply. Apart from this, swift urbanization & industrialization witnessed across the emerging economies will translate into a humungous expansion of the Diesel Genset market over the ensuing years. Escalating demand for electricity supply along with rising in the requirement for deployment of backup supply equipment will promulgate the Diesel Genset market demand. In addition to this, the rise in the number of power cuts as a result of extreme climate will favorably influence the expansion of the Diesel Genset industry over the assessment period.

Furthermore, know-how about cost-effective power backup services among the end-users is projected to support the expansion of Diesel Genset Market Size. Apparently, the surge in the need for constant power supply across construction, oil & gas, chemical, marine, healthcare, and telecom industries will escalate the expansion of the Diesel Genset Market in the years ahead. Furthermore, a surge in the ongoing product innovations to save costs and reduce fuel emissions will further proliferate the market scope over the assessment period.

Global Diesel Gensets Market: Segmentation Analysis

The Global Diesel Gensets Market is Segmented on the basis of Power Rating, Application, End-User, and Geography.

Diesel Gensets Market, By Power Rating

• Below 75 kVA
• 75-375 kVA
• Above 375 kVA

Based on Power Rating, the market is bifurcated into Below 75 kVA, 75-375 kVA, and Above 375 kVA. The 75-375 kVA segment covers a broader range of applications than the sub-75 kVA market, which is often utilized for lesser backup power requirements. It is also less competitive with greater capacity segments (over 375 kVA) utilized in specialized industrial applications. On the other hand, the sub-75 kVA market is likely to expand due to rising demand for portable and standby generators in residential and commercial applications, particularly in areas with unstable grid infrastructure.

Diesel Gensets Market, By Application

• Prime Power
• Standby Power
• Prime/Continuous

Based on Application, the market is segmented into Prime Power, Standby Power, and Prime/Continuous. Prime power is projected to be the dominant segment of the diesel genset market. This segment is designed for applications where the generator is the principal source of electricity, such as in distant areas or businesses that require continuous power. In contrast, standby power is predicted to expand at the quickest rate. This is due to the growing demand for dependable backup power in commercial and residential settings, particularly amid worries about grid stability and power outages.

Diesel Gensets Market, By End-User

• Residential
• Commercial
• Industrial
• Telecommunications

Based on End-User, the market is segmented into Residential, Commercial, Industrial, and Telecommunications. The industrial sector now dominates the diesel generator industry. This is due to established industries that require dependable backup power for key operations. However, the commercial sector is likely to experience the most rapid expansion. This is caused by the growing demand for reliable power in industries such as healthcare, hospitality, and data centers, where even minor outages can cause severe disruptions.

Asia Pacific Market To Accrue Huge Returns Over Forecast Timeframe

The expansion of the Diesel Genset Market in the Asia Pacific zone over the forecast timespan is credited to a surge in the proportion of production units in the region along with the need for a strong power supply infrastructure facility in the Asia Pacific zone. In addition to this, a large gap witnessed between demand and supply of electricity in developing countries of the sub-continent and consequent power outages & blackouts, as well as low power supply to a growing population in rural areas, will increase the market penetration over the forthcoming years.

The massive need for incessant power supply in residential, commercial, and industrial sectors will prompt regional market expansion over the ensuing years. Escalating the requirement for power supply in countries such as India will elevate the growth of the Diesel Genset industry in the Asia Pacific zone over the forecast timeline.

Diesel Genset Market: Report Scope

Key Market Players & Competitive Landscape:

Key participants profiled in the study include -

• Caterpillar
• Himoinsa
• Ingersoll-Rand PLC
• Kirloskar Oil Engines Limited
• Ashok Leyland
• Cummins
• Briggs & Stratton
• Sterling Generators Pvt. Ltd
• SDMO
• Powerica Ltd.
• Atlas Copco.
• Generac
• Honda Motor Co. Ltd.
• Yamaha Motor Pvt
• Escorts Group
• C&S Electric.

The global Diesel Genset market is segmented as follows:

By product:

• Low Power Generators
• Medium Power Generators
• High Power Generators

By power:

• Low Power (0–350 kVA)
• Medium Power (350–1000 kVA)
• High Power (above 1000 kVA)

By end-user:

• Residential
• Commercial
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa