Diesel Generator Market Size, Share, Growth Analysis, By Application(Continuous Load, Peak Load, Standby Load), By End-User(Mining, Oil & Gas, Construction, Residential), By Power Rating(0-100 kVA, 100-350 kVA, 350-1000 kVA, above 1000 kVA), By Portability(Stationary and Portable), By Region - Industry Forecast 2024-2031

Diesel Generator Market size was valued at USD 13.86 billion in 2019 and is poised to grow from USD 15.16 billion in 2023 to USD 34.64 billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031).

diesel generator market is extremely competitive. Diesel generator manufacturing and supply is a market with many major participants. To increase their appeal to clients, generator sets include value-added features including wireless monitoring, automated power management systems, rapid installation technologies, and portability. Players in the market primarily use partnerships, acquisitions, collaboration, technology releases, and R&D activities. For instance, In June 2021, Caterpillar Inc announced the addition of 12 latest models to the rapidly developing series of Cat® GC diesel generator sets. The new diesel generator set is designed for stationary standby applications and primarily for the market. 'Caterpillar Inc.', 'Cummins Inc.', 'Kohler Co.', 'Generac Power Systems Inc.', 'Mitsubishi Heavy Industries, Ltd.', 'Wärtsilä Corporation', 'Yanmar Holdings Co., Ltd.', 'MTU Onsite Energy GmbH', 'Atlas Copco AB', 'Himoinsa S.L.', 'Doosan Corporation', 'Briggs & Stratton Corporation', 'AKSA Power Generation', 'Kirloskar Oil Engines Ltd.', 'Siemens Energy AG', 'Rolls-Royce Holdings plc', 'Volvo Penta', 'Perkins Engines Company Limited', 'Mitsubishi Corporation Power Systems, Inc.', 'Powerica Limited.'

Consumption of oil and gas has significantly expanded as a result of its expanding usage across numerous industry verticals. Additionally, the demand for diesel generator sets is expected to increase due to the increasing discovery of new substantial hydrocarbon reserves and the development of offshore wells.

Several companies in the DG Set market are concentrating on broadening the scope of their applications for DG products. Additionally, the businesses focus on releasing new goods with various power ratings to function well in challenging circumstances.

Asia Pacific has the largest share in the diesel generator market due to urbanization, rapid industrialization, massive infrastructure development goals, and the building of new facilities are key determinants of regional expansion.  The market is expected to expand significantly across the Middle East and Africa growth as a result of the abundance of natural resources and the need for the little capital cost of investigating large reserves. Increasing expenditure to transform residential as well as Infrastructure for business and industry that support expanding production capacity assist in the expansion of the market in this region.