Diesel Genset Market to Register 5.8% CAGR during 2019–2024

The consumption and development of data is increasing on a daily basis all across the globe, because of which, the need for supportive infrastructure for collating, analyzing, and supplying services in the form of data centers is growing as well. In addition to this, innovations in technologies and adoption of intelligent personal assistants, digital currencies, autonomous cars, internet of things, accounting services are also resulting in the surging amount of data. This rising development of data centers is, in turn, leading to the growing demand for diesel gensets to cater to prime and auxiliary energy requirements.

A diesel genset, or diesel generator set, is a system where a diesel engine works along with an electric generator for generating power. Some of the major components of a diesel genset are an alternator, a control panel, fuel delivery system, a canopy or enclosure, and a cooling and exhaust system. As the name suggests, these systems make use of diesel as a fuel for producing power, and they are utilized for both backup and prime power needs. Owing to this, the global diesel genset market is expected to attain a value of $17,821.3 million by 2024, rising from $12,656.2 million in 2018, advancing at a 5.8% CAGR during the forecast period (2019–2024).

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Different power rating ranges of diesel gensets are 5 kVA–75 kVA, 76 kVA–375 kVA, 376 kVA–750 kVA, and above 750 kVA. Out of these, the demand for diesel gensets with power rating 5 kVA–75 kVA was the highest in the past, which can primarily be attributed to the high requirement for these gensets in application areas which have low power needs. The increasing power outages and absence of efficient power infrastructure in emerging countries is also a key reason for the growing demand for these generators.

Industrial, commercial, and residential are the major application areas of diesel gensets. Among all these, the demand for diesel gensets was the highest for commercial applications, such as hotels, retail establishments, hospitals, commercial offices, and telecom towers, in the past. In addition to this, rapid urbanization in developing nations, increasing smart city projects, and rising installations of data centers in both developing and developed countries is also leading to the rising demand for diesel gensets. In the industrial sector, diesel gensets are utilized by manufacturing, energy & power, small industrial units, locomotives, and construction projects.

The growing usage of diesel gensets in countries such as Ghana, Algeria, Nigeria, and various other Latin American and African countries is resulting in the growth of the diesel genset market. This is due to the insufficiency of grid infrastructure in these countries. Other than this, the demand for these gensets is also growing in the U.S. because of the aging grid infrastructure. Attributed to this growing requirement for backup and standalone power requirements, a number of companies in the domain are investing for developing their products.
In conclusion, the demand for diesel gensets is rising due to the growing number of data centers around the globe.