Global Diesel Genset Market is expected
to reach USD 21.37 billion by 2022. The presence of a large electricity
demand-supply gap owing to increase in demand from of mining, telecom, retail
and oil & gas sector, is projected to drive diesel gensets industry.
The market
for industrial use was valued at USD 3.93 billion in 2014. Industrial Diesel
Genset is expected to grow substantially over the forecast period owing to the
occurrence of frequent power failures resulting in high monetary losses.
Furthermore, rapid industrialization in Asia Pacific and the Middle East &
Africa is expected to fuel industry growth.
The market
was dominated by low powered gensets in 2014, and this trend is projected to
continue over the forecast period. Growing power shortage in countries
including Singapore, China and India is expected to further fuel growth.
Furthermore, rising occurrence of natural calamities such as floods and
earthquakes is projected to bolster further demand for gensets, to supply
interrupted electricity during a grid outage.
To request a
sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- According to The World Nuclear Association, the power requirement is expected to double than the current consumption by 2035. The U.S. Department of Energy has projected solar energy to be the most abundant energy source available giving rise to the development of solar powered gensets. This development is likely to pose a challenge to the overall growth of the industry over the forecast period.
- Growing demand for the product in retail, hospitality and IT sectors globally is poised to propel the demand for high power diesel gensets. High power Diesel Genset market is expected to grow at a CAGR of more than 7% over the forecast period.
- Asia Pacific is poised to witness substantial growth, growing at a CAGR of over 8.0% from 2015 to 2022. Increasing capacity expansion of manufacturing and telecom sectors particularly in countries such as China and India is expected to drive demand over the next seven years. In addition, government policies such as “Make in India” policy by the Indian government is expected to fuel growth.
- The Middle East & Africa is expected to reach over USD 2.80 billion by 2022. Technological development coupled with growing purchasing parity in UAE and Saudi Arab is supposed to fuel market growth over the forecast period.
- Some of the major players include Himoinsa S.L, Caterpillar Inc., Cummins Inc., F.G.Wilson Inc., Kirloskar Electric Co. Ltd. Companies continuously spend a considerable amount for R&D activities to develop and enhance their portfolio of the product. Himoinsa partnered with Yanmar in April 2015 to strengthen their product portfolio.
See More
Reports of This Category:
About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment