The diesel generators market is expected to grow from an estimated $13.06 billion in 2015 to $16.96 billion by 2020, at a compound annual growth rate (CAGR) of 5.4 per cent, according to a report.

The rapidly growing demand for continuous and reliable power across industries and the commercial sector is the primary growth driver of this segment, stated MarketsandMarkets, a leading business research firm, in its report “Diesel Generators Market by Application - Global Forecast to 2020”.

The report includes profiles of some of the leading players in the diesel generators market such as Caterpillar (US), Cummins (US), Generac Holdings (US), Kohler Co (US), MTU Onsite Energy (Germany) and Mitsubishi Heavy Industries (Japan).

Dominant players are trying to penetrate the developing economies and adopting various methods to grab the market share, said the report.

The scope accordingly aids market participants to identify high growth markets and help in managing key investment decisions. For this report, major players in the diesel generators market have been identified using various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, directors, and marketing personnel.

Based on this research, the market shares have been evaluated and validated, it said.

The market has been segmented on the basis of application power rating, end-user, and region, it added.

The market based on application has been sub segmented into standby, peak shaving, and prime or continuous power. The standby application held the largest market share in 2014.

The report also segments the diesel generators market on the basis of end-user, which includes industrial (power generation/utilities, oil and gas, and others), commercial (IT and telecom, healthcare, and others), and residential.

The industrial segment is one of largest users of diesel generators and occupies more than 50 per cent of the total market share in the end-user segment of the diesel generators market. This market is expected to grow at the highest CAGR during the forecast period, owing to chronic power outages and rapid growth of industries, infrastructure, and IT and telecommunication industry across the world.

Moreover, the diesel generators market has been analysed with respect to five regions, namely, North America, South America, Europe, Asia-Pacific, and the Middle East and Africa (MEA).

Rising demand for power unmet by existing grid infrastructure in Asia-Pacific results in frequent power outages. As a result, growing industrialisation and frequent power outages are driving the demand for diesel generators in this region.

The diesel generators market in India is expected to grow at the highest CAGR, owing to growing IT, datacentre, telecom, and ongoing infrastructure development programmes in the country, it stated. – TradeArabia News Service