Global Diesel Generator Market Research Report - Forecast till 2025
Generally, a diesel generator uses diesel as fuel for ignition, which is injected into the combustion chamber under high pressure. This helps the generator start and rotate the shaft, producing electricity. It is used for supplying the electrical power during cuts, brownouts, or any other intrusion to the main power supply mostly in the engineering and commercial regions. It is a efficient and robust machine, which is used for transforming mechanical energy to electrical energy. Post the oil price slump in 2014, the market has been growing at a steady rate since 2016 and is probable to continue growing during the forecast period. Thus, the growth in the global operational rig count is expected to increase the demand for diesel generators, globally, during the forecast period. As per BP Statistical Review of World Energy 2019, the global oil production grew from 92,502 thousand barrel per day (TBPD) in 2017 to 94,718 TBPD in 2018, and the global natural gas production grew from 3,677.7 billion cubic meters (BCM) in 2017 to 3,867.9 BCM in 2018. The growth in manufacture can be attributed to the developing global economic terms and the simultaneous increase in demand for energy. The sites for oil and gas exploration and construction are mostly located in remote areas and are reliant on diesel generators to provide continuous electric power supply for powering critical equipment, such as pumps, motors, well control machinery, and lighting systems, at the drilling site.
The Global Diesel Generator Market is segmented based on power rating, portability, end-use, and region respectively. The global market for diesel generator is expected to register a steady growth rate until the end of 2025 owing to a rise in demand for continuous power supply and the cost productivity of diesel generators. A continuous power supply is the baseload electricity required to run a predefined set of electrical apparatus. The baseload electricity supply always must be preserved and is the bare least amount of electricity an end user’s facility will need to successfully operate the equipment and systems at the facility. Many end-user facilities produce their baseload power supply through diesel generators due to various factors such as the impenetrable grid electricity and the occasional nature of grid-connected electricity. For illustration, end-users who use diesel generators for oil & gas and mining applications mostly operate in remote areas and generate their baseload electricity through these generators. Based on power rating, the market is segmented into 375 KVA–1000 KVA and above 1000 KVA. Based on portability, the global diesel generator market has been separated into stationary and portable. Based on end-use, the global diesel generator market has been divided into industrial, commercial and agriculture.
Geographically, the global diesel generator market is accounted into five major regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific is a prominent region owed to the growing demand for continuous power supply and the ever-increasing number of oil & gas activities in the region. In India, Reliance Industries has declared the county’s biggest foreign direct investing (FDI) deal with Saudi Aramco (Saudi Arabia) to pick 20% investment in its oil-to-chemicals (OTC) business. For this purpose, Saudi Aramco has expended USD 75 billion. This deal has increased the demand for diesel generators to be used for constant power supply for refinery and oil to chemical conversion activities in India. Furthermore, as per the BP Statistical Review of World Energy 2019, the oil production in Australia improved from 348 thousand barrels per day in 2017 to 356 thousand barrels per day in 2018 with a growth rate of 2.2% annually. Such factors are projected to increase the demand of diesel makers in Asia Pacific.
The proposed spectators in the Global Diesel Generator Market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Diesel Generator Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Diesel Generator Market are companies like Mitsubishi Heavy Industries Ltd (Japan), Kirloskar Electric Company (India), Denyo Co Ltd (Japan), Greaves Cotton Limited (India), Ashok Leyland (India), Rolls-Royce plc (UK), Caterpillar (US), Cummins Inc (US) and W?rtsil? (Finland).