Global Diesel Generator Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)
Princeton, NJ -- (SBWIRE) -- 06/18/2018 -- The global diesel generator market is expected to grow at a considerable rate, driven by the lack of reliable grid infrastructure, particularly in Asia-Pacific, the Middle East, and the African regions. Rapid industrialization is one of the major factors driving the global diesel generator market. Industrial activities require heavy duty generators for activities, such as mining, marine, railways, and oil & gas exploration. In addition, the relatively low installation cost of diesel generators as compared to other alternative power sources, is expected to further propel the demand for diesel generator during the forecast period.
0-75 kVA is ideal to support the energy demand of residential and small commercial sectors, such as shops and small offices. The segment is expected to witness growth in regions with high urbanization rates, especially in Asia-Pacific and the Middle Eastern regions, where there is an increase in the usage of diesel generators by the residential sector. On the other hand, higher capacity generators are expected to witness significant growth during the forecast period, with growing industrialization rates in countries, such as the United States, China, India, and Japan.
Mahindra Powerol ventures into high-power diesel generators in India with an investment of INR 160 crores, thereby creating a new trend in the overall diesel generator market. The DG sets are equipped with advanced Common Rail Diesel Engine (CRDe) technology, which reduces pollution levels, offers heavy-duty performance, and fuel efficiency. Such trends are expected to further propel the growth of diesel generator market during the forecast period.
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Increasing Shift Towards Gas Generators - Restrains the Market
The stringent emission regulations of the government, that focus on lowering the greenhouse gas emissions and reducing the carbon footprint, are expected to restrain the growth of diesel generator market during the forecast period. These regulations have led to an increasing shift toward natural gas generators. Moreover, low natural gas prices and volatile diesel fuel costs have led to end users preferring gas generators over diesel generators.
Asia-Pacific - The Fastest Growing Market
Asia-Pacific is witnessing an increase in the average energy consumption rate and GDP growth rate, with China and India experiencing the highest industrialization and urbanization rates. The massive increase in power consumption in developing countries, such as China and India, with inadequate power generation capacity and grid infrastructure, is likely to make steady power supply a serious challenge. Thus, the demand for steady power boosts the sales of generator in several sectors, especially the industrial and commercial segments in the region. Moreover, the growing energy demands of the burgeoning manufacturing industry are expected to provide greater market opportunities for generators in the Asia-Pacific region. As a result, Asia-Pacific is expected to witness the fastest growth in the global diesel generator market during the forecast period.
Nigeria - A Huge Market Potential
Underdeveloped grid infrastructure and highly interrupted power supply in major areas has led to an increase in deployment of diesel generators across the country. Currently, almost 40% of Nigeria's population has no access to grid-connected electricity. This has led to an increase in demand for diesel generator as a backup power supply, particularly in the residential sector. In addition, inadequate power set-up leading to long-hour power cuts has amplified the use of these low-power rating diesel generators in the residential sector.
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As the country recovers from its economic crisis, the housing sector is expected to witness a huge investment owing to increase in population, rapid urbanization, and increased disposable income. However, the transmission grid covers only 60% of the country. This limitation in power sector of the country is a significant growth factor for residential diesel generator market in Nigeria.
Key Developments in the Market
February 2018: Caterpillar Inc. had successfully added the Cat XQ125 mobile diesel generator set to the company's line of Tier 4 Final rental power solutions, which met Tier 5 Final emission standards. The new product, rated at 125 kVA is equipped with the Cat Connect platform, allows the dealer to remotely monitor multiple generator set parameters.
December 2017: NRG Energy and Cummins had announced their plans to combine on-site generators with distributed energy resource management systems (DERMS) for commercial and industrial customers.
Major Players: Caterpillar Inc., Generac Power Systems, Cummins Inc., Kohler Co., Kirloskar Oil Engines Limited, amongst others.
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Reasons to Purchase The Report
Current and future global diesel generator market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's Five Forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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