Diesel Generator Monitoring System Market to Record an Exponential CAGR by 2024

Global Diesel Generator Monitoring System Market: Overview

Global demand for energy has been increasing rapidly in recent years. This has led to a rise in power generation and oil & gas activities. Diesel generators are useful appliances that supply electrical power during a power outage and prevent discontinuity of daily activities or disruption of business operations. Diesel Generator monitoring system, monitors generators anytime, anywhere, and keep tabs on the day-to-day operations with ease and instantly review reports over the internet via a secure web. Monitoring is a process that helps improve performance and achieve results. Its goal is to improve current and future management of outputs, outcomes and impact. It establishes links between the past, present and future actions.

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Global Diesel Generator Monitoring System Market: Drivers

A diesel generator monitoring system monitors the status of a diesel engine or a diesel generator. It also includes amperage, RMS, PR, RMO, voltage, and other parameters. It also sets off an alarm in the case of an engine failure. Additional monitoring functions pertain to the generator’s fuel status, including fuel pressure and fuel consumption (especially to alert the control room when thefts occur). Diesel generator monitoring system market can be segmented on the basis of its types, applications, and region. Based on types diesel generating system can be bifurcated as hardware and software. Diesel generator monitoring system are used in the oil & gas activities, power generation, general industries, and commercial sector.

Diesel generator monitoring systems help in managing fuel shipments that maximize generator uptime are one of the drivers. It helps reduce on-site visit to any of the sites where diesel generators are installed. High cost of installation is one of the major restraints of the diesel generator monitoring system. New innovations and technologies are emerging in order to reduce costs and increase the quality of the data of the diesel generator monitoring systems.

In terms of geography, North America is a dominant region of the diesel generator monitoring system market in terms of demand. This can be ascribed to the increase in oil and gas activities in offshore regions of the U.S. New discovery of shale oil in North Dakota in North America has boosted the demand for diesel generator monitoring system. The diesel generator monitoring system market has been expanding in countries in Asia Pacific such as India, China, and Japan due to the rise in maritime security activities, growth in offshore oil and gas production activities, and improvement in underwater communications. In Europe, the diesel generator monitoring system market is expected to expand in countries such as the U.K., Germany, France, and Norway due to increased oil and gas drilling activities in the Johan Sverdrup field in the North Sea and improvement in offshore drilling activities.

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Countries in Latin America such as Brazil and Mexico are anticipated to witness an increase in demand for diesel generator monitoring system due to rapid urbanization and rise in offshore oil and gas exploration and production activities in the Gulf of Mexico. Demand for diesel generator monitoring system market in countries in Middle East & Africa is also likely to rise due to the increase in number of offshore oil and gas exploration and production activities. Moreover, Saudi Arabia, Kuwait, and Qatar have been rapidly drilling and producing oil and gas due to the increase in global demand for energy. The deepwater discoveries in Africa are anticipated to propel the demand for diesel generator monitoring system market.

Global Diesel Generator Monitoring System Market: Key Players

Key global market players operating in the diesel generator monitoring system market include Zoho Corporation Pvt. Ltd, ABB Ltd, Honeywell International, Eaton Corporation, Cumins, General Electric, Siemens, and others.

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