Diesel Generator Market Size, Share & Trends Analysis By Power Rating (Low Power, Medium Power, High Power), By Application (Residential, Commercial, Industrial), And Segment Forecasts, 2022 - 2030

Diesel Generator Market Growth & Trends

The global diesel generator market size is expected to reach USD 38.53 billion by 2030, escalating at a compound annual growth rate(CAGR) of 8.5%during the forecast period, according to a new report by Grand View Research, Inc. Proliferating demand for emergency power backup and stand-alone power generation systems across several end-use industries including manufacturing & construction, telecom, chemical, marine, oil & gas, healthcare, and others are likely to strengthen the market growth during the forecast period.

Rapid industrialization, infrastructure development, and continuous population growth are among the major factors driving global power consumption. Rising penetration of electronic device load across various commercial scale structures such as data centers has resulted in the higher deployment of diesel generators in order to prevent disruption of daily business activities and provide uninterrupted electricity supply during sudden power outages.

Diesel generator set manufacturers adhere to several regulations and compliances regarding the safety, design, and installation of the system. For instance, the Gen-set should be designed in facilities certified to ISO 9001 and be manufactured in facilities certified to ISO 9001 or ISO 9002, with the prototype test program authenticating the performance reliability of the gen-set design. Certifications from leading organizations such as the U.S. Environmental Protection Agency (EPA), CSA group, Underwriters Laboratories, and International Building Code are expected to enhance the product marketability over the forecast period.

Industry participants are continuously focusing on finding the next-generation diesel generators due to strict regulations. These generators have automatic voltage regulators and built-in electronic governors that automatically control the generator engine speed as needed, thereby making the diesel gen-sets more energy-efficient. Additional features such as remote monitoring of the generator set are expected to boost product sustainability during the forecast period.

Diesel Generator Market Report Highlights

• Commercial segment of the market is anticipated to propel at a CAGR of 9.0% from 2022 to 2030 owning to wide application base including data centers, educational institutions, government centers, and other such facilities.
• Medium power generator segment occupied a significant revenue share in 2021 owing to its application across several industries including small-scale industries, the telecom sector, petrol stations, and commercial complexes.
• The market in the Asia Pacific is expected to grow at the fastest CAGR owing to rising power demand from developing economies such as China and India.
• AKSA power generation company, Atlas Copco AB, Caterpillar, Cummins Inc., Doosan Portable Power, Generac Power System Inc., Honda India Power Products Ltd., Kohler Co., Rolls-Royce plc, are some of the prominent players in the diesel generator market.