Delray Beach, FL, March 19, 2025 (GLOBE NEWSWIRE) — Diesel Generator Market size is projected to grow from USD 17.9 billion in 2024 to USD 23.4 billion by 2029, at a CAGR of 5.4%, as per the recent study by MarketsandMarkets™. Diesel generators are essential because they provide reliable and constant source of electricity during power outages and emergencies. The longevity and durability of diesel generators allow them to operate over extended periods ensuring continuous power supply during emergencies.
Diesel generator market is growing because of the rising need for emergency power supplies in developing nations where power failures are quite common. This has extended the use of diesel generators due to which industries and businesses rely heavily on diesel generators to continue their operations without interruptions. They are mostly used in industries that require a stable power supply, for instance, power, health, and telecommunications. Especially, they are a preferred power source for use in areas which are not connected to the power grid or off-grid such as remote areas, construction sites etc.
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List of Key Players in Diesel Generator Market:
- Caterpillar (USA)
- Cummins Inc. (USA)
- Generac power systems, Inc (USA)
- Rolls-Royce Plc (UK)
- Mitsubishi Heavy Industries, Ltd. (Japan)
Drivers, Opportunities and Challenges in Diesel Generator Market:
- Driver: Growing demand for uninterrupted & reliable power supply
- Restraint: Rapidly growing renewable energy technology
- Opportunity: Urbanization and industrialization
- Challenge: Stringent government regulations
As the importance of having a constant and uninterrupted power supply is undeniable, the dependence on electricity has become more and more obvious. In today’s digital economy, electricity is the linchpin in many different sectors including running critical medical equipment in hospitals, remote work, and virtual meetings.
As mentioned in the IEA World Energy Outlook the requirement of electricity in final energy consumption has risen from 15 percent of total energy consumption in 2000 to 20 percent today, if trends continue. The Sustainable Development Scenario aligns with the goals of the Paris Agreement and anticipates continued electrification of many sectors and electricity will be responsible for 31 percent of final energy consumption in 2040. The trajectory underscores the growing demand for electricity as a cleaner and more sustainable source of energy. Against the backdrop of increasing electricity demand, diesel generators come into play as vital elements supporting reliability during electricity grid outages or disturbances. The trend of growth in this sector reflects that diesel generators are indispensable in providing backup power solutions to modern societies which need the provision of energy to cater to their growing demands.
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“Asia Pacific region holds the largest share of the diesel generator Market”
Asia Pacific is the largest region in the diesel generator market owing to a region experiencing a boom in industrial activity and urban growth. This translates to a surging demand for reliable power sources, especially for factories and commercial buildings that can’t afford downtime during outages, thus providing a prospect for the diesel generator market. Moreover, Pacific emerging nations in Asia- have undeveloped electrical infrastructure. As a result, there are frequent blackouts and an unstable supply of electricity, this serves as an opportunity for the diesel generator market. The size of the diesel generator market is greatly influenced by China, a prominent participant in the region. Reliable backup power is required in support of the nation’s ongoing infrastructure projects, developing manufacturing capabilities, and the commercial sphere. Also, the generator fuel is recommended as the Diesel fuel is widely available in most of the Asia-Pacific. It is important in remote places where other fuel sources are not readily available.
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Recent Developments:
- In January 2024, Explore Plant and Transport Solutions has made a significant investment exceeding £6 million in acquiring a fleet of over 100 JCB machines. This Worksop, Nottinghamshire-based specialist in haulage and plant hire services has received delivery of various new models, including JCB Loadall telescopic handlers, site dumpers, generators, and, notably, JCB midi and X Series excavators for the first time.
- In May 2023, Anglo Belgian Corporation (ABC) disclosed the signing of a contract with FRERK Aggregatebau GmbH based in Schweringen, Germany. The agreement entails the supply of seven generating sets powered by +5000 HP V16 engines. These medium speed gensets will be packaged by FRERK Aggregatebau GmbH into modular 15x4m super silenced containers, ensuring a dependable energy source for Germany’s largest Salt Mining Company across four distinct sites.
- In February 2023, Caterpillar Inc. has introduced the Cat XQ330 mobile diesel generator set, presenting a fresh power option for standby and prime power uses that adhere to U.S. EPA Tier 4 Final emission standards. Propelled by a proficient Cat C9.3 Tier 4 Final compliant engine, it incorporates the Cat NOx Reduction System for enhanced efficiency.
- In July 2020, Rolls-Royce bolsters its expansion prospects through the purchase of Kinolt, a Belgian expert in dynamic uninterruptible power supply. Kinolt joins Rolls-Royce’s Power Systems business unit and aligns with its MTU product and solutions brand. This acquisition bolsters Rolls-Royce’s standing in safety-critical sectors and fills gaps in its power supply product range.
Related Reports:
Generator Market – Global Forecast to 2030
Power Rental Market – Global Forecast to 2029
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