Analysis of the Global Diesel Generator Set Market
This research service examines the global diesel generator set market. With the rise of investments in infrastructure projects, along with the mismatch in power demand in developing markets, the need for diesel generator sets is increasing. This study discusses the driving and restraining factors that are expected to impact market development market the globe during the forecast period (2014 to 2018). Market trends along with forecasts by revenue, output, end user, and application are provided. Furthermore, the study discusses factors impacting the generator set market at a regional level (North America, Latin America, Europe, Asia-Pacific, and Rest of World) and analyzes the prevailing market competition. The base year is 2013.
Frost & Sullivan valued the global diesel generator set market at $ billion in 2013 and estimates it will reach $ billion in 2018, growing at a compound annual growth rate (CAGR) of approximately % from 2013 to 2018.
The diesel generator set market is expected to witness steady growth during the forecast period with demand primarily arising from the standby application segment.
The demand for new generator set for any particular region is predominantly based on factors including the electrification ratio of the particular region, emission regulations, economic growth, and grid reliability.
Competitiveness is increasing as market participants across the globe attempt to get a stronger foothold in the diesel generator set market.
Factors including increased power demand following the rise in population, unreliable grid infrastructure, and continuous investments in infrastructure-related projects are likely to drive the demand for diesel generator sets during the forecast period.
Growing environmental concerns necessitated governments to enact stringent emission regulations, forcing end users to switch to more environmental friendly solutions such as gas generator sets and fuel cells.
Further, rise in fuel cost and a slowdown in economic activity across the globe are also identified to hinder market growth.
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