Diesel Generator Market to Reach USD 26.09 Billion by 2029; Rising Number of E-commerce Platforms to Drive the Market Growth

The global diesel generator market size is predicted to reach USD 26.09 billion by 2029 and exhibit a CAGR of 5.5% during the forecast period. Fortune Business Insights^TM, in its report titled “Diesel Generator Market Size, Share & COVID-19 Impact Analysis, By Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, Above 750 kVA), By Portability (Stationary, Portable), By Application (Continuous Load, Peak Load, Stand By Load), By End User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Telecom, Electric Utility, Data Centers, Others), and Regional Forecast, 2022-2029”, observes that the market size stood at USD 16.89  billion in 2021 and USD 17.92 billion in 2022. The extraordinary global development in the commercial, residential, and industrial sectors has boosted demand for reliable power in all locations. Diesel generators have grown in popularity in the industrial and residential sectors as a result of this need.

Slowdown in Industrial Activity during COVID-19 to Affect Market Dynamics

The coronavirus outbreak has severely hampered industrial processes all over the world including this industry. The number of patients impacted has been steadily increasing, prompting several countries to impose national curfews and social isolation. As a result of the global pandemic, the shutdown of industries had a significant impact on the market. The integration of new systems has been considerably hampered because of the inability to start new end-user projects due to a lack of essential funding. Construction operations, fabrication of new commercial substructures, hydrocarbon exploration, asset mining, production, and other heavy-duty processes have all been disrupted, resulting in an unprecedented drop in product demand.

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Qulliq Energy Corp to Introduce New Diesel Gensets

Qulliq Energy Corp. has accelerated the replacement of community diesel gensets that have outlived their useful lives, thanks to the recent decommissioning of Grise Fiord's aged diesel plant. The new diesel generators have improved the community's power supply reliability.

Rising Manufacturing Activities to Augment Market Growth

Rising demand to meet increasing manufacturing activities around the world to result in diesel generator market growth. Increasing expenditures and investments to supply efficient energy management across various industries is also expected to open up new potential opportunities for the business. For example, the U.S. Energy Information Administration (EIA) reported in May 2021 that total national energy consumption in 2020 was 93 quadrillion British thermal units (Btu), with the industrial sector accounting for over 36%. The residential and commercial segments, on the other hand, accounted for nearly 16% and 12%, respectively.  

Atlas Copco Aims to Strategically Diversify its Offerings

This industry is highly fragmented, with multiple global, regional, and country players. To shape the competitive landscape, key businesses are taking significant steps such as forming agreements with other companies to expand their product reach and geographical presence. Atlas Copco AB is a diesel generator pioneer that is always concentrating on various organic and inorganic expansions in order to strengthen its operational footprint in various locations. For example, in May 2020, the firm announced its intention to join with Energia MTC of Saudi Arabia to deliver its QAS diesel gensets. Atlas Copco also aims at utilizing Energia’s presence across the Middle East & North Africa (MENA) territory to market its portable QAS product line.

Industry Developments-

• September 2021: The Draft Electricity (Rights of Consumers) Amendment Rules, 2021, were published by the Ministry of Power of the Government of India. Consumers who use diesel generators will be given a deadline set by state governments to switch to greener energy power sources, according to the bill. This is expected to lower market demand for these generators.

List of Key Market Players:

• Caterpillar Inc. (U.S.)


• Aggreko (U.K.)


• Cummins Inc. (U.S.)


• Himoinsa (Spain)


• John Deere (U.S.)


• Kohler-SDMO (France)


• PRAMAC (Italy)


• Kirloskar Electric Co. Ltd. (India)


• Generac Power Systems (U.S.)


• FG Wilson (U.K.)


• Atlas Copco (Sweden)


• American Honda Motor Company, Inc. (U.S.)


• Briggs & Straton (U.S.)


• Ingersoll Rand (U.S.)


• Yamaha Motor Co. Ltd. (Japan)

Further Report Findings-

The Asia Pacific is expected to have the largest diesel generator market share during the projected period. The key drivers driving regional expansion include rapid industrialization, population shifts to cities, massive infrastructure development targets, and the creation of new facilities.

Table of Segmentation