Global Diesel Generator Market Size 2024, Forecast To 2033
11 Mar, 2024
The diesel generator market size has grown strongly in recent years. It will grow from $19.48 billion in 2023 to $20.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid industrialization, increase in energy demand and consumption, and rise in focus on electricity generation using fossil fuel energy sources. The diesel generator market size is expected to see strong growth in the next few years. It will grow to $27.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to expanding construction industry, thriving growth of manufacturing industry, and remote work revolution. Major trends in the forecast period include improving the efficiency of diesel generators, developing rental generators, hybridization of diesel generators, designing compact and mobile solutions, and integration of advanced technologies such as remote monitoring, predictive maintenance, and data analytics.
Global Diesel Generator Market Key Driver
The expansion of the construction industry is anticipated to be a key driver for the growth of the diesel generator market in the forecast period. As construction projects continue to grow, the need for reliable power sources becomes paramount to sustaining operations through various development stages. Diesel generators emerge as critical backup power solutions, ensuring uninterrupted operations on construction sites where grid power may be unreliable or unavailable. In August 2023, the U.S. Census Bureau reported a 3.5% increase in construction expenditure, reaching $1,938.4 billion in June 2023 from the estimated expenditure of $1,873.2 billion in June 2022. Additionally, Oxford Economics projected the global construction output to grow from $9.7 trillion in 2022 to $13.9 trillion by 2037 in March 2023. Hence, the expanding construction industry remains a driving force for the diesel generator market. In 2028, this market is aligned with the projected growth in the construction industry, as outlined by Oxford Economics.
Get A Free Sample Of The Global Diesel Generator Market ReportGlobal Diesel Generator Market Segments
The diesel generator market covered in this report is segmented –
1) By Type: Small Diesel Generator, Medium Diesel Generator, Large Diesel Generator
2) By End User: Industrial, Commercial, Residential
3) By Application: Standby Backup Power, Peak Shaving, Continuous Load
4) By Mobility: Stationery, Portable
5) By Power Rating: 75 kVA, 75-375 kVA, 375-750 kVA, Above 750 kVA
By Geography:The regions covered in the diesel generator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the diesel generator market in 2023. The regions covered in the diesel generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Diesel Generator Industry Players
Mitsubishi Heavy Industries Ltd, Caterpillar Inc, Cummins Inc, Rolls-Royce Holdings plc, Generac Holdings Inc, Aggreko, Atlas Copco AB, Yanmar Co. Ltd., Wartsila Corporation, Doosan Portable Power, Wuxi Huayou Power Equipment Co. Ltd, GIANT Power OEM Co. Ltd, Detra (HK) International, Jiangsu Dohigh Generator Trading Co. Ltd, Shangyu Diesel Engine Co. Ltd, Yanmar Holdings Co. Ltd, Kubota Corporation, Honda India Power Products Limited, Enrogen, Excel Power Ltd, JS Power, German Generator GmbH, Fischer Panda GmbH, Energy XPRT, Andoria-Mot Ltd, Dfme Sp. Z O. O, Poland Generators Manufacturers, Kohler Co, Powerhouse Diesel Generators Inc, Smith's Diesel and Power Systems, BC Diesel Generators, GAL Power Systems, MWM Motors Diesel Inc, Tupy S.A, Soenergy Sistemas Int De Energia, Geraforte Grupos Geradores LTDA, Jubaili Bros, Ultimate Power Solution Fzc, AQT Generators, Ade Power, Algen Power Generation, Mikano International Limited
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Diesel Generator Market Overview
The diesel generator is used to produce electric energy by using an electric generator with a diesel engine. It is mostly used for emergency power supply in case of an electric shutdown. The primary fuel of a diesel generator is liquid fuel or natural gas.
Diesel Generator Global Market Report 2023 provides data on the global diesel generator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The diesel generator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.