Global diesel generator market is anticipated to grow at a significant CAGR of 14.1% during the forecast period (2024-2031). The market growth is attributed to the increasing demand for low operating costs and better fuel efficiency. Businesses and industries are depending increasingly on diesel generators to maintain continuous operations. This is particularly relevant in industries like telecommunications and healthcare where power stability is crucial. Diesel generators are also an attractive option for construction sites and remote locations where grid connectivity may be weak or nonexistent. For instance, in April 2023, Cummins Inc., announced investing more than $1.0 billion across its US engine manufacturing network in Indiana, North Carolina, and New York. The industry's first fuel-agnostic engine platforms run on low-carbon fuels, including natural gas, diesel, and eventually hydrogen, helping decarbonize. The investment provides upgrades to those facilities to support the industry's first fuel-agnostic engine platforms.
Browse the full report description of “Diesel Generator Market Size, Share & Trends Analysis Report by Power Rating (Up to 50 kW, 51 - 280 KW, 281-500 kW, 501 - 2,000 KW and Above 2,000 KW), by Source (Standby Power, Peak Shaving and Prime & Continuous Power), and by Application (Industrial, Commercial and Residential) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/diesel-generator-market
The industrial sector uses diesel generator extensively, and market players offering investment to provide effective energy management for a range of applications. Diesel generator demand is increasing owing to frequent power outages and the necessity for a constant power supply in developing economies. For instance, in March 2023, ClearFlame raised $30.0 million to power heavy-duty diesel engines with renewable fuels in Series B funding to bring to market innovative solutions that power heavy-duty engines with clean renewable fuels and create a viable business solution to reduce carbon and soot.
In the diesel generator industry, solution providers are principally in charge of generating system fabrication, setup, upkeep, and repair. Dealers of generators or electrical contractors create agreements for the supply and upkeep of their products with end users who are found in homes, businesses, and small-scale enterprises that use generators as backup power sources in case of emergencies. For instance, in February 2023, GeoPura received £36.0 million ($38.9 million) investment for diesel-fuelled generators and enabling zero-emissions energy across the board to create a more sustainable globe. GeoPura currently provides hydrogen power to Balfour Beatty, HS2, National Grid, and the BBC among other sustainability-driven customers, replacing traditional diesel generators with its Hydrogen Power Unit (HPU) technology.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Power Rating
o By Source
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Caterpillar Inc., Cummins Inc., Mitsubishi Heavy Industries, Ltd., Wärtsilä Corp., Yanmar Holdings Co., Ltd. among others.
Key questions addressed by the report.
Global Diesel Generator Market Report Segment
By Power Rating
By Source
By Application
Global Diesel Generator Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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