Diesel gensets are used for producing electricity to supply constant power supply in-between power interruptions. Increasing industrialization in emerging nations and growing demand for proper grid infrastructure in remote locations are some of the key drivers of the diesel gensets market. Increased demand for diesel gensets from commercial, industrial, and residential sectors is witnessed in the last few years, which is providing a significant boost to the diesel genset market.
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Diesel gensets gives various advantages, including better fuel efficiency and low running costs, over other means of powers. Factors including infrastructure development, abundant population, and rapid industrialization among more have caused an increase in demand for power, which is powering the diesel genset market. Owing to its use in various industries including healthcare, marine, telecom, oil and gas, utilities, and mining, among others, diesel genset is gaining significant prominence across the globe. Strengthening of these sectors could provide a substantial boost to the diesel genset market.
Numerous government initiatives have been taken in different countries which have driven the diesel genset market. For instance, in India, schemes such as ‘Make in India’ campaign, smart cities mission, and Saubhagya scheme have been introduced that are expected to help in the expansion of power utilities and public infrastructure in the nation. Increasing usage of low rating diesel gensets in various domains, including telecom infrastructure in the off-grid area is strengthening the low rating genset segment and providing a significant push to the market.
On the other hand, rising inclination toward solar energy and improvement in the situation of power supply in the residential sector could stunt the growth of the diesel genset market. Also, numerous countries are encouraging the utilization of cleaner backup power sources in-between power outages, and the government is offering subsidies for setting up solar plants, which could negatively impact the diesel genset market.
Due to the robust environmental policies, players in the diesel genset market are continually focusing on launching new products that validate the bylaws set by various regulatory bodies. Therefore, a change towards environment-friendly gensets is likely in the years to come. The major players leading the diesel gensets market include General Electric Co., Kirloskar Electric Co., Ltd., Mitsubishi Heavy Industries, Ltd., Rolls-Royce PLC, Generac Power Systems, Inc., among more.
Current Market Trends Covered in the market report:
The Report Diesel Gensets Market – Segmented by Product Type and Application
By Product Type
By Application
The Report Diesel Gensets Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
Latin America