December 02, 2019
According to the latest study titled ‘Global Diesel Genset Market: Analysis By Unit Sales, By Installed Capacity (Mega Watts), By Power Rating (Below 20 kW, 20 to 220 kW, Above 220kW): Opportunities and Forecast 2017-2023)’ available at MarketStudyReport.com, the global diesel genset market is estimated to grow with a CAGR of 4.89% through the year 2023.
Diesel genset is a blend of a diesel engine with an electric generator to produce electrical energy. It generates energy through an inner combustion engine using gaseous fuels. Factors such as better fuel efficiency and low operating costs are aiding to the growth of diesel genset market. With rapid industrialization and infrastructural development across the globe, the demand of electricity from various sectors is escalating. This, coupled with frequent electricity outages and need for continuous power supply are propelling the market expansion.
The study encompasses details about revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. Thorough insight regarding challenges, drivers, trends, and restraints impacting the market growth is also given. The report analyzes the competitive landscape of diesel genset market using SWOT analysis and Porter’s Five Force analysis methods. It also provides strategic recommendations that can be incorporated by competitors to expand their business footprint.
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Based on power ratings, diesel genset market is segmented into range of below 20 kW, 20 kW to 220 kW, and above 220 kW. Considering the geographical landscape, the global diesel genset market is bifurcated into regions including North America, APAC, Europe, Middle East & Africa, and Latin America. As per the report, APAC dominated the diesel genset market in 2016, owing to bolstering demand from developing economies of India and China.
Some of the vendors that operate in diesel genset market are Kohler Co., Cummins Inc., Caterpillar Inc., Briggs and Stratton Corporation, GE Power, Action International LLC, Wartsila, Generac Power Systems, Himoinsa S.L., and Siemens AG.
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