Data Center Construction To Propel Diesel Genset Market to $21,929.9 Million by 2030

Due to the rapid digitization around the world, the usage of intelligent personal assistants, autonomous cars, the internet of things (IoT), digital currencies, and cloud computing is rising. This factor will take the global diesel generator set market from $13,773.0 million in 2019 to $21,929.9 million in 2030, at a 6.0% CAGR between 2020 and 2030.

During the COVID-19 crisis, the advance of the diesel genset market has been hampered on account of the lockdowns initiated in all parts of the world. Such measures have resulted in the closing down of numerous factories and commercial areas, which has reduced the demand for generators. Additionally, construction has also been stopped at most places, thereby further leading to a low demand for such power generation equipment.

The highest CAGR in the diesel genset market in the near future, of 6.3%, in terms of value, will be witnessed by the 7–14 kilovolt-Ampere (kVA) category, based on power rating. As diesel generators of this power rating are cost-effective, they are widely used for household lighting. Additionally, the usage of these systems is increasing swiftly in urban residential pockets and villages.

Throughout the next decade, the largest share in the diesel genset market will be held by the commercial category, under the application segment. Generator sets find large-scale usage for backup and prime power supply at shops, offices, shopping malls, and many other commercial spaces. Further, with the high private infrastructure spending and governments’ smart city projects, the demand for genets in the commercial sector will keep growing.

In the coming years, the growth of the diesel genset market is predicted to be the most rapid in North America. The continent is increasingly witnessing power cuts owing to extreme weather events, such as tornadoes and hurricanes. Moreover, due to a rise in the disposable income of the people of Canada and the U.S., a large number of commercial and residential spaces are being constructed. During their construction and after being leased, these spaces are expected to install generators in a high volume for backup and prime power supply.

Among the most prosperous businesses in the global diesel genset market are Cummins Inc., Caterpillar Inc., Generac Holdings Inc., Kohler Co., Denyo Co. Ltd., General Electric Company, Kirloskar Oil Engines Limited, AB Volvo, Siemens AG, Atlas Copco AB, Doosan Corporation, Yanmar Holdings Co. Ltd., and Mitsubishi Heavy Industries Ltd.

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