Global revenue from the installation of diesel generator sets (gensets) is expected to increase from $41.3 billion in 2015 to $67.5 billion in 2024, according to a new report by Navigant Research.
The report, Diesel Generator Sets, examines the global market for diesel gensets in residential, commercial, industrial, and power plant applications, including global market forecasts for capacity and revenue, through 2024. The report also includes an analysis of market drivers and barriers, and a comparison of diesel and natural gas gensets.
“Diesel gensets are expected to see moderate growth during the forecast period in key segments such as critical infrastructure, data centers, and extraction industries,” says Dexter Gauntlett, senior research analyst with Navigant Research. “The market is also evolving as natural gas gensets are gaining market share, and at the same time, leading genset providers have initiated strategic partnerships with renewable energy companies to provide integrated hybrid and microgrid solutions targeting large customers concerned with high diesel costs.”
Although diesel gensets are projected for growth in most regions and power classes, the industry faces challenges as competition from natural gas gensets increases. However, developing countries burdened by unreliable power grid infrastructure are expected to drive diesel genset sales.
Globally, annual installations of diesel gensets in the 500kW to 3.5-MW range are expected to account for the majority of installed capacity. The leading countries for these installations include the U.S., China, and India.
To read the report, click here.
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