Diesel Generators Market to exceed $16.96 Billion by 2020

The diesel generators market is expected to grow from an estimated USD 13.06 Billion in 2015 to USD 16.96 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020. Diesel generators are widely used across different industries such as utilities, oil & gas, marine, mining, healthcare, and telecom among others. They provide continuous power supply during power outages as well as at locations where grid infrastructure is not available. The diesel generator, a combination of diesel engine with electrical generator, is a reliable power supply device. It is used for generating electricity to provide continuous power supply during power interruptions. It is mostly used as a standby device during power outages or at places with no connection to a power grid. Factors driving the diesel generators market include increasing need for uninterrupted & reliable power supply and increasing number of power outages.

The report also segments the diesel generators market on the basis of end-user, which includes industrial (power generation/utilities, oil & gas, and others), commercial (IT & telecom, healthcare, and others), and residential. The industrial segment is one of largest users of diesel generators and occupies more than 50% of the total market share in the end-user segment of the diesel generators market. This market is expected to grow at the highest CAGR during the forecast period, owing to chronic power outages and rapid growth of industries, infrastructure, and IT & telecommunication industry across the world.

Asia-Pacific is estimated to be the global leader in the diesel generator market

In this report, the diesel generators market has been analysed with respect to five regions, namely, North America, South America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific is the leading market owing to chronic power outages and need for continuous power by the growing industrial and commercial sectors. Poor grid infrastructure and rising power demand in countries such as India and China are driving the diesel generators market in the region. The Middle East & Africa market is expected to grow at the second highest CAGR during the forecast period. The European and North American markets are expected to have slow growth rates during the forecast period due to economic slowdown. Rising demand for power unmet by existing grid infrastructure in Asia-Pacific results in frequent power outages. As a result, growing industrialization and frequent power outages are driving the demand for diesel generators in this region. The diesel generators market in India is expected to grow at the highest CAGR, owing to growing IT, datacentre, telecom, and ongoing infrastructure development programs in the country.

Some of the leading players in the diesel generators market include Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Generac Holdings Inc. (U.S.), Kohler Co. (U.S.), MTU Onsite Energy (Germany), and Mitsubishi Heavy Industries Ltd. (Japan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: newsletter@marketsandmarkets.com

Content Source: https://www.marketsandmarkets.com/PressReleases/diesel-generators.asp

Currently working as a Senior Research Associate with hands on experience in Market Research, Business Research, Consumer Research and Process Research