PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1258070
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1258070
Global Diesel Generator Market is valued at approximately USD 18.74 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2022-2029. A diesel generator is a machine that converts mechanical energy into electrical energy using a diesel engine and an alternator. It is commonly used as a backup power source in situations where electricity from the grid is not available, such as in remote locations or during power outages. The diesel engine in a diesel generator uses diesel fuel to create combustion, which drives the engine's pistons, in turn powering the alternator. The alternator then converts the mechanical energy from the engine into electrical energy that can be used to power various electrical devices and appliances. The market demand is primarily driven by the factors such as growing demand for reliable backup power, coupled with the Increasing industrialization and urbanization.
In addition, the diesel generator market is also driven by technological advancements and innovations, such as the development of more fuel-efficient and eco-friendly diesel engines, which can reduce operating costs and environmental impact that is acting as major driving factors for market growth. According to Technology For You, the market for diesel engines is anticipated to increase by USD 37.45 billion between 2021 and 2026, expanding at a CAGR of 3.16%, thus, in turn, these factors are expected to escalate the demand for diesel generators in the global market. Furthermore, Increasing industrialization and urbanization, as well as technological advancements and innovation are presenting lucrative opportunities for market growth over the forthcoming years. However, the Emergence of alternative power sources is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Diesel Generator Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increased development of infrastructure and manufacturing facilities, widening electricity supply-demand gaps, and quickening growth of the commercial office. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as demand for dependable backup power solutions have increased as a result of the steadily expanding infrastructure of data centres and other commercial markets as well as the growing vulnerability of the power grid to weather-based disruptions burgeoning the market growth in the forecasting years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable