Diesel Generator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Diesel Generator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Diesel Generator Market

The diesel generator market size was valued at USD 19.46 billion in 2023, and the market is now projected to grow from USD 20.84 billion in 2024 to USD 37.03 billion by 2032, exhibiting a CAGR of 7.45% during the forecast period of 2024-2032.

The COVID-19 pandemic disrupted the diesel generator market growth by inflicting labour shortages, supply chain problems and rising raw material and logistics costs. Travel restrictions slowed manufacturing and installation processes, affecting key automotive, power and HVAC sectors. These challenges severely impacted business operations for major players in the industry.

The growing oil and gas sector is driving demand for diesel generator market share, fueled by rising consumption and expanding industry applications. New hydrocarbon discoveries and offshore well exploitation are further boosting this demand. Diesel generators play a key role in supporting operations within these industries.

Additionally, power outages caused by grid failures, cable faults and climate issues disrupt operations for many entities. Authorities such as the EU and U.S. DoE are promoting standby power sources for continuous supply. Extended outages jeopardizing both household and commercial activities. This situation is driving customers to seek reliable backup power solutions.

Comprehensive Analysis of Diesel Generator Market

The diesel generator market and power & energy industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by portability, by power rating, by application and by end-user. The portability includes, Stationary and Portable. The power rating includes, Below 75 kVA, 75 - 375 kVA, 375 - 750 kVA and Above 750 kVA. The application includes, Continuous Load, Peak Load and Standby Load. The end-user includes, Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceutical, Commercial, Telecom, Electric Utility, Data Centers and Others.

Asia Pacific is the most important marketplace for residential generators attributable to the extension of residential utility infrastructure because of factors which include urbanization and industrialization. The increasing data centre enterprise is further growing the demand for generators. Collaborations between Kirloskar and RITES Ltd., are exploring possibilities in infrastructure and transport delivery. New medical studies development centres and electrification plans for remote regions are boosting the pharmaceutical industry. Growing residential, commercial and industrial establishments are drastically elevating energy desires in the region.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, Caterpillar Inc. (U.S.), Aggreko (U.K.), Cummins Inc. (U.S.), Himoinsa (Spain), John Deere (U.S.), Kohler SDMO (France), PRAMAC (Italy), Kirloskar Electric Co. Ltd. (India), Generac Power Systems (U.S.), FG Wilson (U.K.), Atlas Copco (Sweden), American Honda Motor Company Inc. (U.S.), Briggs & Stratton (U.S.), Ingersoll Rand (U.S.) and Yamaha Motor Co. Ltd. (Japan). These market players provide a level-playing competitive landscape.

In October 2023, Aggreko brought into the market of Canada the latest generation of Tier4 final generators. From 2022, they will be available in Canada with Certified short circuit current availabilities ranging from 100 kW to 500 kW. The company stated that the generators were developed in compliance with the current diesel generator emissions requirements using CEPA and EPA standards.

Segmentation Table

Global Diesel Generator Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 7.45% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Portability, Power Rating, Application, End-user, and Region

By Portability Stationary

Portable

By Power Rating Below 75 kVA

75 – 375 kVA

375 – 750 kVA

Above 750 kVA

By Application Continuous Load

Peak Load

Standby Load

By End-user Mining

Oil & Gas

Construction

Residential

Marine

Manufacturing

Pharmaceutical

Commercial

Telecom

Electric Utility

Data Centers

Others

By Region North America (By Type, Power Rating, Application, End-user, and Country)

U.S. (By Application)

Canada (By Application)

Europe (By Type, Power Rating, Application, End-user, and Country)

U.K. (By Application)

Germany (By Application)

France (By Application)

Italy (By Application)

Spain (By Application)

Russia (By Application)

Rest of Europe (By Application)

Asia Pacific (By Type, Power Rating, Application, End-user, and Country)

China (By Application)

Japan (By Application)

India (By Application)

Australia (By Application)

Southeast Asia (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Type, Power Rating, Application, End-user)

Brazil (By Application)

Mexico (By Application)

Argentina (By Application)

Rest of Latin America (By Application)

Middle East and Africa (By Type, Power Rating, Application, End-user)

GCC (By Application)

South Africa (By Application)

Egypt (By Application)

Rest of the Middle East & Africa (By Application)