Diesel Gensets Market Value Worth $38 Billion by 2027, Says Global Market Insights Inc.
Diesel Gensets Industry demand is set to register more than a 5% CAGR between 2021 and 2027, helped by surging electricity demand, driven by thriving population growth primarily across emerging economies.
SELBYVILLE, Del., March 17, 2021 (Newswire.com) - The diesel gensets market revenue is projected to cross USD 38 billion by 2027, as reported in the latest study by Global Market Insights Inc. Amplifying demand for increased power generation capacities to counter the humongous energy usage will continue to entail the adoption of diesel gensets.
Surging demand for a reliable and consistent power supply from various end-beneficiaries comprising residential, commercial and industrial sectors will augment the product adoption. The ability to counter the break-in operational flow, thereby reducing the total costs incurred during downtime, is set to further strengthen the diesel gensets industry statistics.
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Surging demand from commercial end-users including data centers and communication towers, owing to amplified data utilization via e-commerce platforms & social networking, government projects and smartphones, will drive the deployment of diesel gensets. Moreover, the escalating cost of data center downtimes and outages has imparted a thrust for the large-scale commercialization of diesel gensets. Increased deployment of these units for outdoor recreational applications comprising backyard parties, sudden blackouts, camping trips and RV installations will further augment the market forecasts.
Some key findings of the global diesel gensets market report include:
- Escalated energy demand driven by thriving population growth predominantly across developing nations will fuel the demand for diesel gensets.
- Promising investment scenario following increasing participation from both local and global organizations comprising World Bank with an aim to promote the infrastructural development will augment the industry landscape.
- Introduction of stringent emission control norms encouraging the utilization of cleaner fuel may hamper the market growth, however, high durability, high capacity and low volatility rates will enhance the adoption of DG sets.
- Prominent industry participants operating across the market include Kirloskar Oil Engines, Caterpillar, Generac, Cummins, Kohler, and Atlas Copco.
- Easy fuel availability following the large-scale adoption of O&G exploration projects will positively impact the business outlook.
Browse key industry insights spread across 455 pages with 631 market data tables & 63 figures & charts from the report, "Diesel Gensets Market Outlook By Power Rating (< 50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, > 750 kVA), End Use (Residential, Commercial, Industrial), Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/diesel-gensets-market
Prime power diesel gensets market will experience surging deployment owing to wider applicability across remote and off-grid locations with zero or limited access to electricity. For instance, as per the IEA Energy Access Outlook, in 2019, 771 million people in the world were devoid of basic access to electricity. In addition, 75% of this population resides in the Sub-Saharan region of Africa. Therefore, rising demand from the underdeveloped regions which face power cuts even during working hours is set to enhance the product demand.
Europe, the UK, Germany, and Russia accounted for over 40% of the region's market share in 2020. Germany is set to gain appreciable momentum on account of increasing government focus to promote cost reduction, environmental compliances and energy efficiency. Additionally, growing public and private investments focused on driving innovation across the industry will stimulate the global diesel gensets market trends.
Browse the ToC of this report at https://www.gminsights.com/toc/detail/diesel-gensets-market
Browse Related Report:
Generator Sets Market Projection By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), Fuel (Diesel, Gas, Hybrid), End-Use (Residential, Commercial, Industrial), Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2030
https://www.gminsights.com/industry-analysis/generator-sets-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights Inc.
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Tags: Commercial, Continuous, Diesel Gensets Market, Industrial, Peak Shaving, Residential, Standby
