The global diesel generator set (genset) market was valued at over $10.4 billion in 2013, increasing from $8.7 billion in 2006 at a Compound Annual Growth Rate (CAGR) of 2.5%. In the forecast period, the market is expected to continue to grow at a steady pace. The US, China and India are some of the major markets, and cumulatively account for more than half of the global diesel genset market. In the future, it is expected that China and India’s share will increase, while the US share is expected to decline, with China replacing it to gain the leading market position.
The diesel genset market faces stiff competition from gas gensets, which are being adopted by countries due to their low carbon emissions. However, diesel gensets are expected to continue to be more popular, due to their increased usage by the residential sector.