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Energy Industry News Releases

Diesel Generator Market, Size, Share, Outlook and Growth Opportunities 2019-2026

 



(EnergyIndustry.Net, April 16, 2020 ) Market Overview
• The Global Diesel Generator Market is valued at $17.39 Billion in 2018 and is expected to grow at a CAGR of 6.50% over the forecast period of 2019-2026.
• A diesel generator is a combination of a diesel motor with an electric generator (regularly an alternator) to produce electrical energy. A diesel compression-ignition engine is usually designed to run on diesel fuel, but some types are adapted for other liquid fuels or natural gas. It is utilised for producing power to give persistent power supply during power interruptions. It is generally utilized as a reserve gadget during power outages or at spots with no connection to a power network. The expanding utilization of the diesel generators which can offer a hand extra in-home applications, in which it will deliver energy for sump pumps, lighting, specific required applications like climate control systems (ACs), refrigerators, and medical equipment is foreseen to make plentiful open doors in not so distant future.
• The rise in demand for diesel generators in end-use sectors and occurrences of power grid failure and energy deficiency are the key drivers for the market growth globally. The demand for electricity has risen exponentially, owing to rapid industrialization and increasing per capita electric power consumption.
• The Threat of substitution from battery storage systems is the major restraint that hindering the growth of the market.
• The Residential Diesel Generator market is valued at $3.01 Billion in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Billion by 2026
• The Standby Power Diesel Generator market segment held 66.17% of the global diesel generator market in 2018 and is expected to increase by XX% by 2026.
• Europe, especially Western Europe, is a mature market for stationary diesel generators. China held 56.83% of the Asia-Pacific diesel generator market in 2018 and is expected to increase by XX% by 2026, followed by India at 14.53%.

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Market Dynamics
• The rise in demand for diesel generators in end-use sectors and occurrences of power grid failure and energy deficiency are the key drivers for the market growth globally. The growth prospects of the diesel generator market are thus highly influenced by the rise in product demand in associated sectors, ensuring new opportunities for business expansion and market growth to significant market players. For instance, a data center, part of the telecommunications industry, requires power to run IT infrastructural equipment such as network and communication equipment, desktops, servers, EAPBX, lighting, air conditioners, security systems, CCTV surveillance, fire alarms, UPS, and other critical devices. A critical requirement of data center buildings is the electricity supply. Thus in case of power outages, the standby diesel generators are an affordable as well as viable uninterrupted power backup option for the smooth functioning of the systems.
• The growing rate of urbanization and shift in consumer spending pattern towards integrated consumer electronic goods have resulted in frequent power grid failure and shortage in supply of electricity for critical and emergency applications in hospitals, communication services, and emergency call centers. As such, it is vital to provide options for power backup and uninterrupted supply so that primary operations do not face challenges. The diesel generators are thus adopted on an extensive scale, owing to the long service life of the generators in comparison to other alternatives and low operational noise.
• The threat of substitution from battery storage systems is the major restraint that hindering the growth of the market. The wide-scale adoption of battery storage systems, especially in remote areas which do not have access to power grids, acts as a barrier to the installation of diesel engines. The operation of diesel generators at low load and fractional capacity causes considerable damage to the equipment, shortening the intervals between maintenance work and increasing expenses as a result. As such, the advent of low-cost alternatives and gradual upgradation of substitutes severely hamper the growth prospects of the market. The battery systems, combined with solar or wind power, provide independence from rising diesel costs, handle demand during peak hours without diesel fuel consumption, reduces energy wastage through performance optimization, while also storing excess energy for later use.

Market Segmentation
• Based on portability, the global market for diesel generators is segmented as portable and stationary. On the basis of power rating, the market is categorized into 0-100 kVA, 101-350 kVA, 350-1000 kVA and Above 1000 kVA.
• Depending on end-user, the market is classified into residential, commercial and infrastructure. The Residential Diesel Generator market is valued at $3.01 Billion in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Billion by 2026. The rapid global rate of urbanization and increasing consumer spending power have shifted the market dynamics in favor of diesel generators, as awareness concerning enhanced performance while ensuring low operational costs are poised to ensure rising product demand during the forecast period.
• The disruption in regular power supply and continued growth in sales of consumer electronic goods have ensured high installation of diesel generators, as development in infrastructural capabilities has made it mandatory to provide uninterrupted power supply to residential buildings. For instance, on June 04, 2018, Generac Holdings Inc., manufacturer of affordable home standby generators and power generation equipment, announced the acquisition of Selmec Equipos Industriales, S.A. de C.V. and its wholly-owned subsidiaries from Enesa Energia, S.A. de C.V. and Enesa, S.A. de C.V.
• On the basis of operations, the market is divided into standby power, peak savings and continuous power. The standby power diesel generator market is valued at $11.51 Billion in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Billion by 2026. The Standby Power Diesel Generator market segment held 66.17% of the global diesel generator market in 2018 and is expected to increase by XX% by 2026. The standby power diesel generators are used for the purpose of emergency power backup for a short duration of time, with no overload capabilities built into the generator units. The companies recognize the steady growth rate of standby power diesel generator market and thus focus on new product launch as a means to increase company revenue through rise in product sales revenue. For instance, on March 06, 2017, Caterpillar Inc. launched a new standby power node for the Cat® 3512C diesel generator set that offers industry-leading power density. Rated at 1,750 kW for 60 Hz standby applications, the Cat 3512C generator set offers reliable backup power from an optimally sized engine and a reduced overall footprint that delivers numerous benefits, including lower overall site preparation, transportation, installation and maintenance costs, as well as reduced fuel consumption and lower emissions.

Geographical Share
• The global diesel generator market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
• The Asia Pacific diesel generator market is valued at US$ 4.61 Billion in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Billion by 2026. China held 56.83% of the Asia-Pacific diesel generator market share in 2018 and is expected to increase by XX% by 2026, followed by India at 14.53% of the Asia Pacific market share in 2018. In the Asia-Pacific region, the demand for electricity has risen exponentially, owing to rapid industrialization and increasing per capita electric power consumption. The rapid growth in industry, infrastructure, telecommunication, and the information technology sector is expected to escalate the demand for diesel generators in the region over the forecast period. The market has been witnessing increasing production of a diesel generator with improved engine life and other features such as synchronization with the grid, remote monitoring and control, and automated data analysis.
• Billion by 2026. Germany held 26.50% of the Europe diesel generator market in 2018 and is expected to increase by XX% by 2026. Europe, especially Western Europe, is a mature market for stationary diesel generators. The UK government agreed to grant millions of dollars in subsidies for diesel generators in 2015, to meet the energy crunch that the country is expected to face in the coming years. Currently, the UK is facing a serious gap in the demand and supply of electric power that is estimated to be about 5%. Closing down of old coal-fired power plants without replacing them with new, efficient, power generating units have led to the dearth in power supply.
• UAE, imported generator units worth 137,930,281 euros from Europe, according to the UN Comtrade Database.

Competitive Landscape
• Some of the major players are Caterpillar Inc, Cummins Inc, Kohler Co, Mitsubishi Heavy Industries, Ltd, Kirloskar Oil Engines Limited (KOEL) (Kirloskar Group), Wärtsilä Finland Oy, AKSA Power Generation, Yanmar Co., Ltd, Generac Holdings Inc., Mahindra Powerol Ltd.
• The global diesel generator market is highly competitive, with the presence of key market players boasting of an extended global distribution network on a large scale. As such, it is vital for companies to launch new products in an attempt to capture substantial market share, strengthening global business position in the process.
• On February 08, 2019, Kirloskar Oil Engine Ltd introduced its latest product range of technologically advanced intelligent DG (diesel generators) in Delhi. The range is called the i-Green series.
• On November 2018 Cummins Inc. introduced the new QSG12 50Hz diesel generator series which offers optimum performance, reliability and versatility for stationary standby and prime power applications.
• On November 20, 2018, MHI Engine System Philippines, Inc. (MHIES-P), a company operated in the Philippines by Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a Group member of Mitsubishi Heavy Industries, Ltd. (MHI), has delivered two MGS (Mitsubishi Generator Series) diesel generator sets to SM Center Ormoc, a commercial facility newly opened in the city of Ormoc on the west coast of the Philippines' Leyte Island.

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