Global Diesel Genset Market Anticipated To Advance Over A CAGR Of 5.2% During 2024-2032

According to analysts at 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. The diesel gensets industry is likely to witness strong growth with rapid advancement in the regional population. The soaring demand for consistent power supply has surged the installation of different backup supply devices which in return will speed up the product demand. Additionally, the rising power outages owing to severe weather conditions have optimistically influenced the adoption of the product. The rising penetration of commercial bases by rapid development in the service segment industry will impel the product demand.

Some of the key players in the global market are Kirloskar Oil Engines Limited, Cummins, SDMO, Generac, Briggs & Stratton, Honda Motor Co. Ltd., Yamaha Motor Pvt, Ltd, Escorts Group, Powerica Ltd., Himoinsa, Sterling Generators Pvt. Ltd, Ingersoll-Rand PLC, Caterpillar, Ashok Leyland, Atlas Copco., and C&S Electric.

Surging Demand For Diesel Genset From The Industrial Segment To Boost The Global Market

The increasing demand for diesel genset across the industrial segment and aging power infrastructure are key factors that are predicted to drive the expansion of the global market during the forecasted period. The benefit of diesel generators like low cost & better fuel efficiency is also expected to surge the adoption of diesel genset in different industries. Nevertheless, the administration efforts toward reducing greenhouse gas emissions and augmenting petroleum prices are likely to hinder the development of the global market during the estimated period. The increasing consciousness and adoption of eco-friendly power generators might also impede the demand for diesel genset and limit the growth of the global diesel genset market to a certain extent.

The global diesel genset market is bifurcated on the basis of product, power, end-user, and regional analysis. Based on the product, the market is divided into medium power generators, low power generators, and high power generators. Based on the power, the market is divided into medium power (350–1000 kVA), low power (0–350 kVA), and high power (above 1000 kVA). Based on the end-user, the market is divided into commercial, residential, and industrial.

Asia Pacific Region Anticipated To Dominate The Global Diesel Genset Market During Forecasted Period

Based on geographical analysis, the global diesel genset market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region has accounted for the major revenue share in the global market due to the surging adoption of diesel generators owing to the benefits of automation in operation and lower cost across the region. The European region is also contributing to the second-highest share in the global diesel genset market. The market across the Asia Pacific region is projected to witness lucrative growth in regards to revenue in the global market during the forecasted period, due to augmented adoption of rising power consumption in the industrial segment in emerging countries such as China and India in the region.

Browse the full “Diesel Genset Market - By Product (Medium Power Generators, Low Power Generators, And High Power Generators), By Power (Low Power, Medium Power, And High Power), By End User (Commercial, Residential, And Industrial), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/diesel-genset-market

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

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