Lewes, DE -- (SBWIRE) -- 07/01/2014 -- The global diesel generator set (genset) market was valued at over $10.4 billion in 2013, increasing from $8.7 billion in 2006 at a Compound Annual Growth Rate (CAGR) of 2.5%. In the forecast period, the market is expected to continue to grow at a steady pace. The US, China and India are some of the major markets, and cumulatively account for more than half of the global diesel genset market. In the future, it is expected that China and India’s share will increase, while the US share is expected to decline, with China replacing it to gain the leading market position.
The diesel genset market faces stiff competition from gas gensets, which are being adopted by countries due to their low carbon emissions. However, diesel gensets are expected to continue to be more popular, due to their increased usage by the residential sector.
Global Diesel Generator Market to be Driven by India and China :
India and China each face a considerable gap between their power supply and demand, creating attractive markets for diesel generator set (genset) manufacturers. High power deficits coupled with strong economic growth potential are the two strongest drivers for the diesel genset market in both India and China.
The genset market showed impressive growth in India and China between 2006 and 2013. Together, these countries accounted for 38.5% of the global genset’s market revenues in 2013. By 2020, these two countries are expected to account for 48.1% of the market’s global revenue.
Established Companies such as Caterpillar and Cummins Dominate the Diesel Generator Market :
Established companies such as Caterpillar and Cummins dominate the global diesel genset market. Besides these established companies, the market for diesel gensets has several smaller companies operating locally. Prior experience, extensive distribution and maintenance networks, and understanding of local market conditions all represent advantages for these local companies. The market for small and medium gensets is the most competitive, especially in terms of pricing, as it has the greatest number of smaller companies operating within the segment. Moreover, there are many small-scale assemblers in the market that operate by importing the engines of international brands and assembling the genset locally.
Spanning over 90 pages, “Diesel Generator Market - Global Market Size, Equipment Share and Competitive Analysis to 2020” report covering the Global: Diesel Generator Market, Diesel Generator Market, the US, Diesel Generator Market, China, Diesel Generator Market, India, Diesel Generator Market, Nigeria, Diesel Generator Market, South Africa, Diesel Generator Market, UK, Appendix.
Know more about this report at: http://www.marketresearchreports.com/globaldata/diesel-generator-market-global-market-size-equipment-share-and-competitive-analysis-2020
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