Diesel Generator Market Size, Share 2020 | Global Industry Segmented by Power Output, Probability, Application, Scope, Challenges, Growth and Trends by Forecast to 2025
Global Diesel Generator Market Overview:
A report on the global Diesel Generator Market 2020 has hit stands after a sudden strike of novel coronavirus globally. This study by Market Research Future is based on different aspects of growth rate, revenue, leading players, regions, and forecast. The study reveals that the overall market would inflate rapidly at a higher pace, which is going to happen to post the pandemic owing to the invention of the new dynamism, which is making rapid progress in the market’s growth, mainly from the years 2017-2025.
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Competitive Landscape:
The top players in the global diesel generator market are listed as Ashok Leyland (India), Kirloskar Electric Company (India), Greaves Cotton Limited (India), Denyo Co Ltd (Japan), Rolls-Royce plc (UK), Mitsubishi Heavy Industries Ltd (Japan), Caterpillar (US), Wärtsilä (Finland), and Cummins Inc (US).
Notable Developments
The exponential infrastructure development, coupled with mounting urbanization, is predicted to augur well for the global diesel generator market. In the case of point, back in February 2019, a pact was signed between France’s Naval Group and Australia of a value USD 35 billion to build 12 attack class submarines for the Australian Navy. The construction is programmed to start in late 2023, and suppliers for important submarine components such as diesel generator, primary motor, batteries, switchboard, and weapon discharge system will be announced soon.
As per claims from the United Nation’s report that was released in July 2019, where it is stated that the world’s population is projected to rise by 2 billion in the next 30 years, which will be from 7.7 billion presently to 9.7 billion in 2050. Over 90% of the population expansion will come from developing countries, which on average, have a low electrification rate. The extensive population growth will predictably swell the power shortfall, which ultimately provides healthy growth for the industry.
To add in this, the consumption of hydrocarbons has also been rising incessantly due to massive progress in transportation, space & aviation, and sea-borne trade. Most of the industry verticals depend on fossil fuels to produce consumer goods. The mounting demand for electronic products, automobile, and renewable energy system set to accrue the requisition for metals are driving the mining industry. Thus, following this trend, the global diesel generator is likely to gain substantial growth in the upcoming years.
Impact of COVID-19 on the Global Diesel Generator Market at: https://www.marketresearchfuture.com/report/covid-19-impact-diesel-generator-market
Segmentation:
The review of the global diesel Genset market includes proper analysis of segments like power output, probability, end-use, and application.
By probability, the review of the global diesel Genset market includes the segmentation of stationary and portable.
By power output, the study of the global diesel Genset market includes segments like 350 kVA–1,000 kVA, pp to 100 kVA, 100 kVA–350 kVA, and above 1,000 kVA.
By application, the report with details of the diesel Genset market includes a study of peak shaving, standby power, and continuous.
By end use, the report on the diesel Genset market comprises segments like commercial, industrial, and residential. The residential sector is witnessing substantial growth to meet the needs of rapid urbanization.
Regional Front:
Geographically, the global diesel generator industry is studied among five major regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Among these regions, Asia Pacific is an outstanding region owing to the mounting demand for uninterrupted power supply and the expanding oil & gas activities in the region. In India, Reliance Industries announced the county’s most significant foreign direct investment (FDI) deal with Saudi Aramco (Saudi Arabia) to pick a 20% stake in its oil-to-chemicals (OTC) business. For this purpose, Saudi Aramco invested USD 75 billion, and resultantly the deal has surged diesel generators demand to be used for continuous power supply for refinery and oil to chemical conversion activities mainly in India. Besides, as per the BP Statistical Review of World Energy 2019, the oil production in Australia augmented from 348 thousand barrels per day, which was in 2017 to 356 thousand barrels per day till the year 2018, with a growth rate of 2.2% annually. Such factors are projected to boost the demand for diesel generators in the Asia Pacific in the following timeframe.
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