According to the report published by Allied Market Research, the global diesel generator market generated $20.8 billion in 2019, and is estimated to reach $37.1 billion by 2027, registering a CAGR of 9.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in need for stable & uninterrupted power supply and growing urbanization & industrialization drive the growth of the global diesel generator market. However, growing adoption of photovoltaic systems for power generation hinders the market growth. Furthermore, technological innovations is expected to create new growth opportunities for market players during the forecast period.
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Depending on the type, large diesel generator segment held the highest market share of about 57.05% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to increase in demand from large-scale industries such as mining, healthcare, commercial, manufacturing, and data centers.
On the basis of mobility, stationary segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from industrial sectors such as manufacturing, mining, agriculture, and construction.
On the basis of application, peak shaving segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.7%. This is owing to the increase in maximum power demand during highly dense populated area and from manufacturing operations (when production rate is high).
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Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 10.0% from 2020 to 2027. The report also analyzes regions including Europe, North America, and LAMEA.
Leading market players
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