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 rati...