Pune, March 24, 2020 (GLOBE NEWSWIRE) -- The diesel generator market size is predicted to reach USD 19.02 billion by 2026, exhibiting a CAGR of 5.7% during the forecast period. The rising demand for energy has led to a surge in production and exploration activities for diesel during the forecast period. For instance, in 2019, The Ministry of Petroleum & Natural gas approved major reforms in exploration and licensing policy to enhance exploration activities, attract domestic and foreign investment in unexplored/unallocated areas of sedimentary basins and accelerate domestic production of oil and gas from existing fields. Besides, the policy reforms can accelerate the exploration activities in various constituencies, which in turn will boost the diesel generator market revenue in the forthcoming years.
According to the report, published by Fortune Business Insights, titled “Diesel Generator Market Size, Share and Industry Analysis, by Power Rating (Below 75kVA, 75-375-kVA, 375-750kVA, and Above 750kVA), By Portability (Stationary and Portable), By Application (Continuous Load, Peak Load, and Standby Load), By End-User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 12.22 billion in 2018. The report is fixed at delivering a comprehensive description of the diesel generator market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing diesel generator market expansion, growth patterns, restricting factors, and market strategies.
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Attainment of IBC Seismic Certification by Cummins to Spur Market Opportunities
Cummins, an American leader, and manufacturer of power generation products, obtained an International Building Code (IBC) seismic certification and became the first power generator manufacturer to achieve the certificate. The IBC certification comprises of minimum requirements for the safety and general welfare for the occupants of new and existing buildings and structures. It will also ensure that all the Cummins generators will remain intact and functional during and after seismic activity. The certification is valid to the Cummins products ranging from 706 kilovolt-amperes (kVA) to 2750 (kVA) within the 50 hertz (Hz) standby application product offering and products between 603 kilowatts (kW) and 2250 kW within its 60 Hz offering. The obtainment of the IBC certificate by Cummins is expected to boost the diesel generator market trends during the forecast period owing to the minimal safety requirement alongside the manufacturing freedom to produce efficient products. Furthermore, Cummins Senior Product Manager for High Horsepower Diesel Generator said in a statement, “The addition of this certification guarantees our continuous commitment to manufacture the most durable products in the world.”
However, the surge in strict policies and laws regarding the adverse effects of GHG emissions will aid the adoption of renewable energy, which in turn will dampen the growth of the market in the forthcoming years.
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Copious Construction Activities to Augment Market Growth in Asia Pacific
Asia Pacific generated a revenue of USD 4.62 billion in 2018 and is likely to grow rapidly during the forecast period owing to the surge in construction activities in the region. Road construction activities and high requirement for diesel generator in AC power trains can be critical factors in accelerating the generator market share in Asia Pacific. Europe is predicted to witness steady growth as compared to other regions owing to the implementation of strict rules and regulations to curb greenhouse emissions.
List of the Major Companies in the Diesel Generator Market Include:
- Aggreko (United Kingdom)
- Caterpillar Inc. (United States)
- Cummins Inc. (United States)
- Himoinsa (Spain)
- John Deere (United States)
- Kohler-SDMO (France)
- Wartsila (Finland)
- Kirloskar Electric Co. Ltd (India)
- Generac Power Systems (United States)
- FG Wilson (United Kingdom)
- Atlas Copco (Sweden)
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Diesel Generator Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Power Rating
- Below 75kVA
- 75-375kVA
- 375-750kVA
- Above 750kVA
- Market Analysis, Insights and Forecast – By Portability
- Stationary
- Portable
- Market Analysis, Insights and Forecast – By Application
- Continuous Load
- Standby Load
- Peak Load
- Market Analysis, Insights and Forecast – By End User
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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