Diesel Generators Market Analysis in Europe and America to 2024 and Market Development
Diesel generators are power generators that use diesel fuel and are usually used in areas that are not connected to the grid or where there are frequent power outages. The market size and growth of the diesel generator market is influenced by various factors such as energy demand, government policies, environmental factors, and technological innovations. Based on the information we searched from the web, here are some analyses of the diesel generator market in Europe and the United States, along with the development forecast to 2024:
Europe diesel generator market size and share analysis
1: The Europe diesel generator market was valued at USD 3.25 billion in 2022 and is expected to reach USD 4.08 billion by 2028, at a CAGR of 3.5%. The growth of the market is mainly driven by increasing demand for reliable and uninterrupted power supply, especially in key sectors such as healthcare, data centres, and telecom; technological innovations and investments in low-emission and high-efficiency diesel generators; and integration and complementation of renewable energy sources. The growth of the market is restrained by policy support for clean energy and consumer preference; volatility and uncertainty regarding diesel prices; and concerns regarding the environmental impact and noise pollution of diesel generators. By capacity, diesel generators exceeding 375 kVA accounted for the largest share of the market and are mainly used in industrial and large commercial applications. By end-user, the industrial sector accounted for the largest share of the market, mainly due to high demand for diesel generators in industries such as mining, manufacturing, agriculture, and construction. By application, standby backup power accounted for the largest share of the market, mainly due to the role of diesel generators as a critical power source in case of power grid failure or natural disasters, among others. By geography, Germany is the leader of the diesel generator market in Europe, accounting for nearly 20% of the market share, primarily due to the country's strong industrial base, highly developed data centre and healthcare sectors, and technological innovations and quality standards for diesel generators. Other important national markets include France, the U.K., Italy, Spain, and Russia, among others. Some of the key players in the market include Caterpillar Incorporated, Cummins Incorporated, Kohler Co, Atlas Copco Inc, and Genarak Holdings Inc, among others.
United States Diesel Generator Market Size and Share Analysis
2: The U.S. diesel generator market was valued at USD 4.15 billion in 2022 and is projected to reach USD 5.27 billion by 2028, at a CAGR of 4%. The growth of the market is primarily driven by the growing demand for uninterrupted and reliable power supply, especially in key sectors such as data centres, telecom, healthcare, and defence; technological innovations and improvements in diesel generators to enhance their performance, efficiency, and sustainability; and the demand for emergency and standby power supply of diesel generators to cope up with extreme weather and natural disasters, among other scenarios of power interruptions. The growth of the market is restrained by policy support for cleaner energy sources and consumer preference, leading to increased demand for natural gas and biofuel based generators; volatility and uncertainty over the price of diesel fuel, which increases the cost of operating diesel generators; and concerns over the environmental impact and noise pollution of diesel generators, which has led to increased regulations and restrictions on diesel generators. By capacity, diesel generators exceeding 375 kVA accounted for the largest share of the market and are mainly used in industrial and large commercial applications. By end-user, the industrial sector accounted for the largest share of the market, mainly due to high demand for diesel generators in industries such as mining, manufacturing, agriculture, and construction. By application, standby backup power accounted for the largest share of the market, mainly due to the role of diesel generators as a critical source of power in situations such as grid failure or natural disasters. Some of the key players in the market include Caterpillar Inc, Cummins Inc, Kohler Co, Atlas Copco Inc, and Genarak Holdings Inc among others.
Growth Forecast 2024: Based on the above market analysis, it can be predicted that the diesel generator market in Europe and the US will continue to grow at a steady rate in 2024, but the growth rate is likely to slow down due to increasing competition and substitution of clean energy sources. The Europe diesel generator market is expected to reach USD 3.65 billion by 2024 and the US diesel generator market is expected to reach USD 4.72 billion by 2024. The industrial sector is expected to continue to dominate the market, but demand from the commercial sector is also expected to increase, especially in areas such as data centres and healthcare. Backup standby power is expected to continue to be the major application in the market, but the demand for mains and peaking power is also expected to increase, especially in the integration and supplementation of renewable energy sources. Germany and the U.S. are expected to continue to be the leaders of the diesel generator market in Europe and the U.S., but other countries such as France, the U.K., Italy, Spain, Russia, Canada, and Mexico are also expected to grow. Key players in the market are expected to continue investing in technological innovations and improvements in diesel generators to increase their performance, efficiency, and sustainability, as well as to reduce their environmental impact and noise pollution.
