(MENAFN - GetNews) The global diesel generator set market size is expected to generate $21,929.9 million revenue in 2030.
From $13,773.0 million in 2019, the global diesel generator set market is expected to reach a value of $21,929.9 million by 2030. According to the forecast of the market research company, P & S Intelligence, the market will demonstrate a CAGR of 6.0% from 2020 to 2030 (forecast period). The expansion of the market is credited to the burgeoning need for stationary and emergency power backup in several end-use industries, such as oil & gas, healthcare, marine, manufacturing, telecom, automotive, and construction.
Additionally, the surging number of data centers all over the world, owing to the generation of large volumes of data, is also fueling the expansion of the diesel genset market. These facilities are required for storing and analyzing the data and providing various related services. Moreover, the rapid advancements being made in technology, such as the development of intelligent personal assistants and autonomous cars, and the increasing adoption of digital currencies, cloud computing, and the internet of things (IoT) are also pushing up the requirement for data centers, which is, in turn, propelling the need for diesel gensets.
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Depending on application, the market is divided into residential, industrial, and commercial categories. Out of these, the commercial category is predicted to dominate the market during the forecast period. This is ascribed to the soaring investments being made in infrastructure development in various developing nations and the increasing implementation of government initiatives for several smart city projects across the world. In addition, the boom in the retail sector is also positively impacting the progress of the commercial category in the market.
Globally, the diesel genset market will exhibit lucrative growth in the Asia-Pacific (APAC) region in the coming years. This is attributed to the huge investments being made in telecom infrastructure, surge in the manufacturing sector, and the soaring requirement for backup power in various residential facilities in the region. In this region, diesel gensets are deployed in large numbers for meeting the auxiliary power requirements, as the power infrastructure is not very well-developed. Additionally, the rising incidence of power outages in many Southeast Asian countries is also propelling the requirement for diesel gensets in the region.
Browse report with detailed COVID-19 impact analysis on Diesel Genset Market Size and Growth Forecast to 2030
Hence, it can be said with surety that the market will exhibit explosive growth in the forthcoming years, primarily because of the surging number of data centers, development of smart cities, and the existence of poor power infrastructure and uncertainties in power grids all over the world.
Market Size Breakdown by Segment
By Power Requirement
By Power Rating
- 7–14 kVA
- 15–24 kVA
- 25–44 kVA
- 45–69 kVA
- 70–99 kVA
- 100–149 kVA
- 150–199 kVA
- 200–299 kVA
- 300–399 kVA
- 400–499 kVA
- 500 kVA and Above
- By user
- Retail establishments
- Commercial offices
- Telecom towers
- By user
- Energy and power
- North America
- Latin America
- Middle East and Africa
- Saudi Arabia
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Diesel Generator Set Market in United States
P & S Intelligence says that due to the rising number of data centers, the U.S. diesel genset market will grow at a 7.2% CAGR between 2020 and 2030, to reach $3,797.6 million by 2030 from $2,187.4 million in 2019.
Diesel Generator Set Market in India
The Indian diesel genset market had a valuation of $1,105.7 million in 2019 and is predicted to generate a revenue of $2,365.2 million by 2030. Furthermore, the market will progress at a CAGR of 12.5% between 2020 and 2030.
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