Diesel Gensets Market Analysis

Diesel Gensets Market Analysis

Diesel generator market from the ≤ 50 kVA power rating segment is predicted to observe nearly 7% growth rate through 2032. The ongoing work-from-home trend has stimulated the demand for economical, small, and uninterrupted power supply options, resulting in the growing adoption of lower-capacity diesel gensets for residential uses. According to the 2021 American Community Survey 1-year estimates released by the U.S. Census Bureau, the number of Americans primarily working from home quadrupled between 2019 and 2021, from 5.7% (approximately 9 million) to 17.9% (27.6 million).

Diesel gensets market value from the peak shaving application segment is slated to surpass USD 11 billion by 2032. The growing inclination of organizations towards energy-saving strategies to lower costs by reducing energy usage is anticipated to increase the adoption of diesel gensets for peak shaving applications. Furthermore, several consulting organizations are providing strategic support and plans for convenient employment of peak shaving methods, which is speculated to impel segment growth.
 

Residential segment held around 25% of the revenue share in 2022. The business landscape is expected to benefit from the widespread installation of diesel gensets at household units to supply emergency power during blackouts. Additionally, most residential units in developing nations, including China and India, are switching to diesel gensets on account of frequent power shortages that have slowed down business operations and left several housing units without electricity.
 

Asia Pacific diesel gensets market size is poised to record over 7% gains between 2023 and 2032 owing to the rapid development of commercial and recreational complexes resulting from rising industrialization and the booming tourism sector. For instance, at the Formula 1 Singapore Grand Prix 2022 (SGP), PS Energy Group provided fuel for generators that powered the lighting system for the race circuit, the Padang stage, a few hospitality suites, activity booths, and food & beverage stalls and equipment.