Global Diesel Gensets Market to Cross $ 27 Billion by 2022
According to TechSci Research report “Global Diesel Gensets Market By Type, By End User, By Region, Competition Forecast & Opportunities, 2012-2022”, the global diesel gensets market is projected to reach $ 27 billion by the end of 2022, due to growing use of diesel gensets in addressing power requirements across various end user sectors including industrial, commercial and residential. Diesel gensets find application as standby source of power, in cases where prime source of power is unable to satisfactorily address electricity requirements. However, diesel gensets are also used as prime power source as well as for peak shaving purpose. Growing demand for continuous and reliable power supply from various end user sectors such as healthcare facilities, pharmaceutical industries, manufacturing facilities, transportation & communication systems, datacenters, fueling stations, water & sewage facilities, etc., is boosting demand for diesel gensets across the globe.
As of 2016, the total capacity of nuclear power projects under construction stood at 56,618 MW. The development of nuclear power plants globally would result in increased deployment of diesel gensets, as during emergencies, diesel gensets are used to supply electricity. Demand for electricity is anticipated to grow over the next five years due to rising industrial production, expansion of commercial sector and increasing power consumption in households, globally. Mounting electricity demand among diverse end users is augmenting demand for diesel gensets, especially in major developing countries such as China and India. Growing industrial activities in Asia-Pacific is projected to drive demand for diesel gensets during the forecast period.
“Government initiatives to expand industrial sector in major developing economies such as China, India, etc., is expected to continue driving demamd for diesel gensets over the next five years. Middle East & Africa region also offers huge scope for diesel gensets applications due to inadequate power infrastructure in the region. Widening demand-supply gap in African nations such as Tanzania, Nigeria, etc., has resulted in increased use of diesel gensets as a prime source of power. During 2017 – 2022, developing countries with inadequate power infrastructure are expected to be the major demand generators for diesel gensets.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global energy management consulting firm.
“Global Diesel Gensets Market By Type, By End User, By Region, Competition Forecast & Opportunities, 2012-2022” has evaluated the future growth potential of global diesel gensets market and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the global diesel gensets market.
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