February 17, 2022 23:39 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The global diesel generator market size is forecasted to reach USD 23.77 billion by 2028, growing at a 5.5% CAGR during the forecast period. The soaring energy demands and the swiftly developing industrial infrastructure are anticipated to be the key factors driving the market growth. Fortune Business InsightsTM has presented this information in its report titled “Diesel Generator Market, 2021-2028”. The market size stood at USD 15.59 billion in 2020 and USD 16.35 billion in 2021. Additionally, the key players operating in the market emphasize product advancements. They focus on developing and launching new products that can withstand harsh atmospheres effectively. The new product advancements are likely to bolster the market growth in the coming years.
Slowdown in Industrial Operations to Hamper Market Development
The sudden emergence of the COVID-19 pandemic resulted in stagnated industrial processes globally. The shutdowns of industrial operations during the lockdowns and curfews implemented by the governments of several nations have affected the market growth. Disruptions in construction, mining, exploration, and other industries have aggravated the situation. Nonetheless, the major vaccination drives across the globe are helping the market recover with eased restrictions. The market is likely to prosper in the forthcoming years.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/diesel-generator-market-100587
On the basis of power rating, the Diesel Generator Market is fragmented into above 750 kVA, 375-750 kVA, 75-375 kVA, and below 75 kVA. On the basis of portability, the market is bifurcated into portable and stationary. On the basis of application, the market is trifurcated into standby load, peak load, and continuous load. On the basis of end-user, the market is segmented into utility, telecom, commercial, pharmaceuticals, manufacturing, residential, construction, marine, oil & gas, mining, and others. Geographically, the market is classified into Latin America, the Middle East & Africa, Europe, Asia Pacific, and North America.
The report offers valuable insights into the market’s regulatory scenarios. It assimilates information on the latest market trends and industry developments. It incorporates SWOT Analysis for precise prediction. It sheds light on the COVID-19 pandemic’s effect on the market. It highlights strategies adopted by key players to acquire the market share.
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/diesel-generator-market-100587
Soaring Energy Demand to Foster Market Growth
The increasing oil and gas consumption across diverse industry verticals and the rising discoveries of new hydrocarbon reserves are anticipated to augment diesel generator market growth. Additionally, the growing offshore well exploitation is likely to fuel market growth.
The soaring energy demand worldwide due to surging production activities is expected to amplify the market growth in the coming years. Additionally, the rising investments and expenditures to provide efficient energy management in various sectors are anticipated to stimulate the market diesel generator growth. The key market players emphasize product advancements to launch new products that can withstand harsh atmospheres effectively. The new product advancements are likely to bolster the market growth during the forecast period.
Lastly, the rising efforts by private and public entities to combat power outages, cable faults, grid system malfunctions, and others are anticipated to boost the market growth. However, the strict regulations and rising integration of clean energy alternatives are expected to restrain the market growth.
Swift Industrialization to Augment Growth in Asia Pacific
Asia Pacific is anticipated to dominate the global diesel generator market share. The high migration of people from rural to urban areas, swift industrialization, new facility constructions, and vast infrastructure development targets are anticipated to be the key factors fuelling the region’s market growth. The Middle East & Africa is likely to witness substantial growth in the global market due to growing expenditures to revolutionize industrial, commercial, and residential infrastructures. Additionally, low explorations costs of bulk reserves and abundantly available natural resources are expected to fuel the market growth. North America is predicted to experience significant growth due to increasing investments across pharmaceuticals, construction, mining, oil & gas, and other end-use industries. Latin America and Europe are expected to exhibit steady growth due to rising consistent energy requirements owing to high industrialization.
Have Any Query? Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/diesel-generator-market-100587
Major Players Adopt Innovative Strategies to Amplify Market Presence
The market is consolidated and comprises several key players operating at country, regional, and global levels. The key players adopt ingenious strategies, including partnerships to extend their geographical presence and product reach. They adopt other strategies such as new product launches, technological advancements, patents, mergers, acquisitions, and others to augment their rankings in the global market. In July 2021, the Delhi Pollution Control Committee mandated all 125 kVA rating diesel generator users to install emission control devices to control pollution levels in the city to be cited as industry development.
Major Key Players in the Global Diesel Generator Market:
Buy Now - Diesel Generator Market: https://www.fortunebusinessinsights.com/checkout-page/100587
DIESEL GENERATOR: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2021-2028
Have a Look at Related Research Insights:
Power Monitoring System Market Growth, Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, Services), By Application (Utilities & Renewables, Manufacturing & Process Industry, Datacenters, Public Infrastructure, and Others), and Regional Forecast, 2021-2028
Transmission Line Market Size, Share and COVID-19 Impact Analysis, By Type (Overhead, Underground, and Submarine), By Voltage (130kV-220kV, 221kV-660kV, and Above 660kV), By Application (Industrial and Utility), and Regional Forecast, 2021-2028
Smart Infrastructure Market Size, Share & COVID-19 Impact Analysis, By Type (Smart Grid, Smart Water Network, Intelligent Buildings, Intelligent Transportation Network, and Others), and by End-user (Utility, Transport, Communications, and The Built Environment) and Regional Forecast, 2021-2028
Lithium Iron Phosphate Battery Market Size, Share & COVID-19 Impact Analysis, By Type (Portable Battery, Stationary Battery), By Application (Automotive, Industrial, Energy Storage System, Consumer Electronics, and Others), and Regional Forecast, 2021-2028
Virtual Power Plant Market Size, Share & COVID-19 Impact Analysis, By Technology (Demand Response, Distributed Generation, and Mixed Asset), and by End-user (Industrial, Commercial, and Residential), and Regional Forecast, 2021-2028
About Us: Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India. Phone: U.S.:+1 424 253 0390 UK : +44 2071 939123 APAC : +91 744 740 1245 Email: sales@fortunebusinessinsights.com LinkedIn: https://www.linkedin.com/company/fortune-business-insights Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd Twitter: https://twitter.com/FBInsightPvtLtd
Press Release: https://www.fortunebusinessinsights.com/press-release/diesel-generator-market-9677