Diesel Gensets Market Enroll Growth at CAGR around 6% by 2026: Acumen Research and Consulting
February 20, 2019 - 4:00 PM EST
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Diesel Gensets Market Enroll Growth at CAGR around 6% by 2026: Acumen Research and Consulting
Acumen Research and Consulting has published a new report titled ‘Diesel Gensets Market (By Power Rating: <75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA; By End-Use: Residential, Commercial, Industrial; By Application: Standby, Peak Shaving, Prime/Continuous) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026'.
LOS ANGELES, Feb. 20, 2019 (GLOBE NEWSWIRE) -- The global diesel gensets market is forecasted to grow at a stable CAGR around 6% during the forecast period 2018 to 2026.
According to the report named “Diesel gensets Market - Global Industry Analysis, Growth, Share, Size, Trends and Forecast, 2018-2026”, expanding demand for reliable and consistent power supply, rising consumer consciousness toward emergency backup power solutions, growing urbanization, increasing large infrastructures and commercial centers and favourable government initiatives are some of the primary factors that are boosting the diesel gensets market growth globally. The diesel gensets is the mixture of an electric generator and diesel engine in order to produce electrical energy. This is an explicit case of engine generator. A diesel compression ignition engine is generally considered to run on diesel fuel, but a few types are used for other natural gas or liquid fuels. Diesel gensets are utilized in spots without association with a power lattice, or as crisis control supply if the framework bombs, just as for increasingly complex applications, for example, crest hacking, grid support and fare to the power grid. North America is anticipated to witness the significant growth rate over the forecast period owing to the growing usage of traveller vehicles together with the improvement of engine performance. Continuous development of commercial, industrial, retail and residential infrastructures in the region is also expected to increase the growth of the regional market.
Intensifying Demand for Consistent and Reliable Power Supply and Technological Advancements to Drive the Global Diesel Gensets Market Growth
In order to increase productivity and efficiency of an engine the implementation of automotive emission regulations is increasing rapidly, thereby boosting the growth of the global diesel gensets market. Automotive emission regulation is the fundamental factor that is fuelling the introduction of low-emission and cleaner vehicles amongst automakers. Expanding demand for reliable and consistent power supply and ever-increasing usage of crucial electronic load are some of the factors driving the overall market growth. Additionally, rising consumer consciousness toward emergency backup power solutions and intensity of grid disruptions are anticipated to boost the overall market in near future. Growth in the commercial vehicles and increased adoption of technologically advanced products in automotive industry are some of the fundamental factors responsible for the growth of the market. The emission regulation authorities, who focus around chopping down the CO2 emission, are supplanting existing normally suctioned engines with turbocharged motors. Furthermore, electric vehicles are considered as impractical alternative to the fossil fuel engines and the demand for electric vehicles is increasing rapidly. The escalating electric vehicle industry is the major factor that is responsible for the growth of the global market.
North America to Grow at Highest Rate in Diesel Gensets Market
Geographically, the global diesel gensets market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is anticipated to contribute the highest revenue share and grow at significant CAGR during the forecast period owing to the rising initiatives taken by governments and escalating demand for fuel-efficient vehicles. Owing to the stringent fuel economy and emission standards implemented by regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and growing technological advancements in the region are some of the factors responsible for the growth of the regional market. Large scale development of data centers and digitization across a number of countries in the region are expected to fuel the regional market growth over the forecast period. Asia Pacific is expected to grow at highest CAGR during the forecast period owing to the continuous development of commercial, industrial, retail and residential infrastructures in the region. Rapidly increasing telecom sector, frequent power failures across various countries and fast industrial growth are some of the factors responsible for the growth of the regional diesel gensets market.
Market Players
The diesel gensets market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Mitsubishi Heavy Industries, Ltd., Wacker Neuson SE, Burtonwood Generator & Switchgear Services Ltd., Atlas Copco AB, Wartsila Corporation, APR Energy PLC, Kirloskar Electric Co., Ltd. and Generac Power Holdings, Inc.
