How large is the global
market for diesel
gensets?
According to a recent report it’s as large as $17.35 billion. And huge
as this market already is, it is only expected to grow.
The largest markets are Asia Pacific, Europe,
Middle East and Africa followed by North, South and Central America. It can be
said that the reasons for demand include low initial prices, increasing power
demand and an inadequate grid network.
The challenges faced by the
market include increasingly stringent emission norms, discovery of shale gas
reserves and use of substitutes. The top players in the international market
are Rolls Royce, Caterpillar, Cummins and others. In India, Mahindra has built
a solid reputation in this sector.
A. Expected Growth:
The global diesel generators market is expected to grow to an aggregate market value of $115.1 billion in the period 2018-2022.
The factors driving this rise are healthy industrial growth, rapid urbanization
and increase in per capita income. The rise in disposable income has also spiked
the need for power backup devices.
The other reasons for the
surge in demand include power deficits, advanced technology, and ready diesel
availability. Diesel generators are by far the most preferred power
backup -
In 2017, more than 80% of the global generators market were diesel
generators.
B. Top countries according to demand:
In 2022, China is expected to be leading the way
in terms of market volume for diesel
generators - followed by US and
India. China’s share is estimated to be 19.50%
in 2022. The main reasons for this are that China’s grid has not yet reached
quite a few of the rural areas. The Chinese government is also promoting
economic growth which will positively affect the market.
C. Sectors with high demand for diesel generators:
The commercial sector accounted for 39.8% of the diesel
gensets market share in 2014.
This was followed by the Hospitality sector. Natural disasters like hurricanes
boost the demand in coastal areas. The Telecom, IT and retail sectors are also
witnessing a surge in demand.
D. Demand according to power:
In 2014, low power gensets with an output power
of 0-350 kVA accounted for 49% of
the global diesel generator market.
The demand for High-power gensets is expected to
rise and diesel-fueled
high power gensets are cheaper than
natural gas-fueled gensets, in terms of operating costs.
To conclude, as you can see from the above
facts, the market for diesel generators is huge and the prospects for sustained
growth are very high indeed.
For further guidance or
information on diesel/gas gensets visit our website at www.mahindrapowerol.com/ or call us at 1-800-419-1999
Reference: -
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