Covid-19 Impact on Diesel Gensets Market and Challenges Forecast 2025
Market Research Future published a research report on “Diesel Genset Market Research Report – Global Forecast till 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2025.
Market Highlights
Diesel genset is a combination of a diesel engine and an electric generator used for converting mechanical energy to electrical energy. It uses diesel as fuel for combustion, which is injected into the combustion chamber under high pressure. This helps the generator start and rotate the shaft, and then producing electricity.
The rising demand for an uninterrupted and reliable power supply and the increasing number of power outages are expected to drive the market for diesel gensets during the forecast period. Uninterrupted and reliable power supply refers to the continuous supply of electricity required to run a predefined set of electrical equipment. The supply of electricity always must be maintained continuously. It is the minimum amount of electricity an end user’s facility will need to operate various equipment and systems installed at the location sites. Many end user facilities generate their baseload power supply through diesel gensets due to multiple factors, such as the inaccessible grid electricity and the intermittent nature of grid-connected electricity. The oil and gas exploration and production sites are generally located in remote areas, making them dependent on Covid-19 Impact on Diesel Gensets Market to provide uninterrupted and continuous power supply for powering critical equipment, such as motors, pumps, well control equipment, and lighting systems, at the drilling site. Moreover, mining is a critical industry, as it provides raw materials to several end-use industries, such as construction, manufacturing, and electronics. However, most of the mining sites are remotely located and do not have proper access to grid electricity. Hence, diesel gensets are essential for the mining industry, as they provide electricity for operating the critical equipment used in the mines, including drills, continuous miners, rock dusters, longwall miners, and shuttle cars. Thus, the growing number of mining activities in remote locations is expected to drive the growth of diesel gensets during the forecast period. Similarly, various end users such as the construction industry, power generation facilities, data centers, and event organizers are dependent on diesel gensets for continuous power supply, as grid-based electricity may be inaccessible or intermittent, which can have drastic impacts on the operations of the end-users. Such developments are expected to increase the demand for diesel genset.
Moreover, power outage, also known as power blackout, refers to the interruption in the supply of electricity, causing consumers to lose access to the electricity grid network. There are several causes of power outages, such as storms, earthquakes, lightning, and human error, which interrupt the supply of electricity from the grid to the consumers. Moreover, technical failures in electrical components or during the maintenance and repair of the grid infrastructure are also a key reason for power outages. Such power outages affect the operations of the consumers as they are heavily dependent on the electricity supply for various activities. Thus, such factors are expected to fuel the demand for diesel gensets to meet the electricity requirements of the consumers. As industries such as mining and construction contribute significantly towards the economic growth of the country, interruptions in the functioning of such industries due to power outages could hinder the development of the country. Such factors are expected to drive the growth of the global diesel genset market during the forecast period.
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Competitive Landscape
The Prominent Players in the Global Diesel Genset Market are Cummins Inc. (US), Caterpillar (US), Mitsubishi Heavy Industries, Ltd (Japan), Wärtsilä (Finland), Kohler Co. (US), Rolls-Royce plc (UK), Kirloskar Electric Company (India), Yanmar Co Ltd (Japan), Atlas Copco AB (Sweden), JS Power (UK), Generac Power Systems, Inc. (the US), General Electric (US), Ashok Leyland (India), Sutton Power Engineering (UK), and Denyo Co., Ltd (Japan).
Segmental Analysis
This study provides an overview of the global diesel Genset market, tracking four market segments across five geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, Middle East, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The Scope of the Study Segments the Global Diesel Genset Market by Portability, Power Rating, Application, End-Use, and Region.
By Portability
- Stationary
- Portable
By Power Rating
- Up to 100 kVA
- 100 kVA–350 kVA
- 350 kVA–1,000 kVA
- Above 1,000 kVA
By Application
- Standby Power
- Peak Shaving
- Continuous
By End-Use
- Industrial
- Marine
- Land
- Commercial
- Residential
By Regions
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Market Research Analysis
In terms of region, the diesel genset market is segmented as Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. Asia-Pacific dominates the global diesel genset market. The growing demand for uninterrupted power supply, the rising development in data centers, and the increasing number of power outages are expected to drive the diesel genset market in the region.
According to the BP Statistical Review of World Energy 2019, China holds the largest oil-producing country in Asia-Pacific. This shows the growing demand for diesel gensets for continuous power supply during oil production in the country. Additionally, according to the data published in China Daily, in 2019, a total of 300 major construction projects have been announced in Beijing, and the investment of the projects is expected to reach USD 35 billion. In India, as per the Indian government, an amount of USD 777.73 billion is required to invest in the infrastructure sector for the sustainable development of the country. Moreover, some of the ongoing and upcoming projects in the region, such as the metro rail system & national highway construction and solar & wind power projects, are increasing the demand for diesel gensets for continuous power supply in the region. In addition to this, cultural events, sports tournaments, and concerts are also the main attractions of people in the countries of Asia-Pacific. To make these events successful, there has to be an uninterrupted power supply, which has led to a rise in demand for diesel gensets in the region. Such factors are expected to increase the demand for diesel genset between 2019 and 2025.
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Covid-19 Impact on Global Diesel Genset Market Table of Content (TOC):-
- Market overview
- Global Diesel Genset Market competition by manufacturers, type and application
- Analysis of the global market by the manufacturer
- Global Diesel Genset Market manufacturing analysis
- Industrial Chain, sourcing strategy and downstream buyers
- Marketing strategy analysis, distributors/traders
- Global market forecast 2019-2026
- Conclusion
- Appendix
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