Global Diesel Generator Market for Industrial Applications 2017-2021
About Diesel Generator for Industrial Applications
Generators are devices that convert mechanical energy into electrical energy. The source of mechanical energy varies; it can be either an internal combustion engine, a hand crank, compressed air, or a reciprocating steam engine. An internal combustion engine uses either diesel, gasoline, propane gas, or natural gas to produce mechanical energy, which is converted into electrical energy with the help of the generator assembly. Generators are designed to provide temporary AC or DC power. They serve as a source of backup or emergency power in residential, commercial, and industrial applications.Technavio’s analysts forecast the global diesel generator market for industrial applications to grow at a CAGR of 4.65% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global diesel generator market for industrial applications for 2017-2021. To calculate the market size, the report considers only diesel generators used for power backup. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Diesel Generator Market for Industrial Applications 2017-2021
Technavio recognizes the following companies as the key players in the global diesel generator market for industrial applications: Caterpillar, Cummins, Generac, and Kohler.
Other Prominent Vendors in the market are: APR Energy, Atlas Copco, JCB Broadcrown, Dresser-Rand, FG Wilson, General Electric, GUANGDONG WESTINPOWER, HIMOINSA, Kirloskar Oil Engines, Mitsubishi Heavy Industries, MQ Power, MTU Onsite Energy, Perkins, Wacker Neuson, Wärtsilä, and Yanmar.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is generator rental services. When it comes to large diesel generators, industrial end-users are often opting for rental services instead of buying them. This trend is more evident in developing nations where the total cost of ownership is an important aspect of the total revenue earned. Revenue earned is generally evaluated in terms of revenue earned either by renting power backup equipment or from a temporary power plant.”
According to the report, one driver in the market is increasing instances of power grid failure. The growing frequency of power grid failures has increased the adoption of diesel power generators worldwide. The modern world needs electricity to operate almost everything, ranging from transportation systems and computer databases to everyday equipment such as ovens, TVs, lights, fans, washing machines, and almost every electrical or electronic equipment, which are used on a day-to-day basis. Rapid urbanization in developing countries due to the growth in population and industrial development have raised the overall power consumption.
Further, the report states that one challenge in the market is increasing popularity of gas generators. Diesel generators are noisier than gas generators, which contributes to their lower use in many industrial and commercial applications. Thus, many large end-users have started adopting gas generators; the surge in the production of gas-powered generators is also attributed to technologies such as drilling and fracking in the oil and gas industry. End-users also opt for gas generators as they eliminate the need to refill a generator with gasoline or diesel during a power outage.
Caterpillar, Cummins, Generac, Kohler, APR Energy, Atlas Copco, JCB Broadcrown, Dresser-Rand, FG Wilson, General Electric, GUANGDONG WESTINPOWER, HIMOINSA, Kirloskar Oil Engines, Mitsubishi Heavy Industries, MQ Power, MTU Onsite Energy, Perkins, Wacker Neuson, Wärtsilä, and Yanmar.
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