Global Diesel Genset Market is Expected to Reach USD 21.37 Billion by 2022: Research by Hexa Reports
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.
Felton, United States – August 16, 2016 /MarketersMedia/ —
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.
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
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Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Diesel Gensets Industry Outlook
Chapter 4 Diesel Genset Market Product Outlook
Chapter 5 Diesel Genset Market End-use Outlook
Chapter 6 Diesel Gensets Regional Outlook
Chapter 7 Competitive Landscape
About Us:
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
For more information, please visit http://www.hexareports.com/report/diesel-genset-market/details
Contact Info:
Name: Ryan Shaw
Organization: Hexa Reports
Address: Felton Office Plaza, 6265 Highway 9, Felton, California, 95018, United States
Phone: 1-800-489-3075
Release ID: 128076
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