TechSci Research has released a new report, ‘Global Diesel Genset Market Forecast and Opportunities, 2019’. The report projects that the market will reach US$ 19.9 billion by 2019.
Power demand is increasing rapidly, while supply may not be growing at the same pace, creating a deficit in many parts of the world. Consequently, the demand for power generation equipment such as diesel generators continues to increase worldwide.
Poor power infrastructure and unreliable grid power supply have been largely responsible for increasing frequency of power outages, which is likely to boost demand for diesel gensets across the globe. Rising demand for mobile diesel gensets and biofuel based diesel gensets is also expected to benefit the diesel genset market, globally.
Low power rating diesel genset is the largest revenue generating segment in the global diesel market due to high volume usage in commercial, manufacturing, power, utility, telecom, data centre, mining and petrochemical industries. However, the very high power diesel genset segment is expected to witness fast growth compared to all other segments.
The global market for diesel gensets is largely dominated by Asia-Pacific due to rapid urbanisation and industrialisation in this region, with China and India emerging as the largest revenue contributing countries in the region’s diesel genset market. During the forecast period, diesel genset markets in the Middle East and Africa and South America are expected to grow at the fastest rate, driven by strong market growth in countries such as Brazil, Argentina, Saudi Arabia, and the UAE.
Adapted from a press release by Emma McAleavey
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/18082014/global-diesel-genset-market-1145/