Power & Energy Trends

The U.S. has recently observed a significant rise in the number of data centers, due to the adoption of advanced technologies like 5G, the internet of things (IoT), and edge computing. The deployment of these technologies requires additional storage space for the high-volume data generated by them. Therefore, the extensive investments in the development of data centers will propel the installation of diesel gensets in the U.S., as these facilities require a reliable power backup facility, which is offered by generators. Additionally, the growth of the construction industry in the country will drive the U.S. diesel genset market at a CAGR of 7.2% during the forecast period (2020–2030). The market was valued at $2,187.4 million in 2019, and it is expected to reach $3,797.6 million by 2030 . The U.S. Department of Transportation (US DOT), in December 2018, announced the second round of the INFRA discretionary grants program for the infrastructure sector of the country, which has been, sin...

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...