Diesel Gensets Market to Grow at CAGR 7.4% till 2021
Continuing
increase in global electricity demand in industrial and commercial sectors to
boost diesel gensets market through 2021
According to a recently published
TechSci Research report “Global Diesel Gensets Market By Type, By End
User, Competition Forecast and Opportunities, 2011 – 2021”, the global diesel gensets market is
projected to grow at a CAGR of 7.4% by the end of 2021. Diesel gensets are being
increasingly used for meeting power requirements from various end users across industrial,
commercial and residential sectors. Broadly, diesel genset finds application as
standby power system when prime source of power is unable to meet electricity
requirements. Diesel gensets are also used as prime power source as well as for
peak shaving purpose. Growing demand for continuous and reliable power supply from
various end user sectors such as healthcare facilities, pharmaceutical
industries, manufacturing facilities, transportation & communication
systems, datacenters, fueling stations, water & sewage facilities, etc., is
boosting use of diesel gensets across the world, and this trend is expected to
continue in the coming years.
Demand for electricity is anticipated to grow over the
next five years due to rising industrial production, expansion of commercial
sector and increasing power consumption in households, globally. Mounting
electricity demand among diverse end users is augmenting demand for diesel
gensets, especially in major developing countries such as China and India.
“Government’s initiatives to expand industrial
sector in major developing economies such as China, India, etc., is expected to
continue propelling demand for diesel gensets over the next five years. Middle
East & Africa region also offers huge scope for diesel gensets applications
due to inadequate power infrastructure in the region. Widening demand-supply
gap in the African nations such as Tanzania, Nigeria, etc., has resulted in increased
use of diesel gensets as a prime source of power. During 2016 – 2021,
developing countries with inadequate power infrastructure are expected to be
the major demand generators for diesel gensets.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global energy management consulting firm.
“Global Diesel Gensets Market By Type,
By End User, Competition Forecast and Opportunities, 2011 - 2021” has evaluated the future growth
potential of diesel gensets market across the globe and provides statistics and
information on market structure, industry behavior and trends. The report
includes market projections and demand forecasting. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities
available in the global diesel gensets market.
About TechSci Research
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