Delray Beach, FL, June 10, 2025 (GLOBE NEWSWIRE) — The global Diesel Generator Market share expected to reach USD 23.38 billion by 2029 from an estimated USD 17.9 billion in 2024, at a CAGR of 5.4%, as per the recent study by MarketsandMarkets™. Diesel fuel generators are primarily used for providing remote power and backup power. The diesel fuel generator market is growing due to the rising need for reliable power, developing economies, power shortages, unreliable grids, and lower operating costs.
The diesel generator market is experiencing growth due to its ability to provide reliable and uninterrupted power supply across various sectors. The reliance on diesel generators for standby power, increasing rapid digitalization, are some of the key drivers behind the product’s market expansion. The utilization of diesel generators across numerous remote locations where there is no availability of electricity is also another factor contributing to the growth of the market.
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Drivers, Opportunities and Challenges in Diesel Generator Market:
- Driver: Growing demand for uninterrupted & reliable power supply
- Restraint: Rapidly growing renewable energy technology
- Opportunity: Urbanization and industrialization
- Challenge: Stringent government regulations
This report segments the diesel generator market based on three applications: Standby power, Peak shaving, and Prime & continuous power. The Standby power in the diesel generator market is expected to be the fastest due to its deployment in shorter durations during emergencies or scheduled outages. Standby power diesel generators are preferred due to their reliability, cost-effectiveness, quick start-up, which makes them ideal for providing backup power in emergency situations. Standby power Diesel generators ensure continued operation and safety during power outages.
This report segments the diesel generator market based on offering into three segments: Industrial, Commercial, Residential. The Industrial segment is expected to be the fastest-growing offering in the diesel generator market because of their applications in critical power needs, remote and off-grid operations, emergency backup power and emerging markets. The increasing demand for reliable power supply, coupled with the need for continuous operations in Industries, makes it the fastest-growing segment as it becomes crucial for seamless power supply. Industrial processes rely on heavy machinery that demands a constant and significant power supply, which can be supplied by diesel generators. These are some of the factors driving the diesel generator market in industrial sectors.
List of Promising Key Players in Diesel Generator Market:
- Caterpillar (USA)
- Cummins Inc. (USA)
- Generac power systems, Inc (USA)
- Rolls-Royce Plc (UK)
- Mitsubishi Heavy Industries, Ltd. (Japan)
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“Asia Pacific region holds the largest share of the diesel generator Market”
Asia Pacific is the largest region in the diesel generator market owing to a region experiencing a boom in industrial activity and urban growth. This translates to a surging demand for reliable power sources, especially for factories and commercial buildings that can’t afford downtime during outages, thus providing a prospect for the diesel generator market. Moreover, Pacific emerging nations in Asia- have undeveloped electrical infrastructure. As a result, there are frequent blackouts and an unstable supply of electricity, this serves as an opportunity for the diesel generator market. The size of the diesel generator market is greatly influenced by China, a prominent participant in the region. Reliable backup power is required in support of the nation’s ongoing infrastructure projects, developing manufacturing capabilities, and the commercial sphere. Also, the generator fuel is recommended as the Diesel fuel is widely available in most of the Asia-Pacific. It is important in remote places where other fuel sources are not readily available.
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Recent Developments:
- In January 2024, Explore Plant and Transport Solutions has made a significant investment exceeding £6 million in acquiring a fleet of over 100 JCB machines. This Worksop, Nottinghamshire-based specialist in haulage and plant hire services has received delivery of various new models, including JCB Loadall telescopic handlers, site dumpers, generators, and, notably, JCB midi and X Series excavators for the first time.
- In May 2023, Anglo Belgian Corporation (ABC) disclosed the signing of a contract with FRERK Aggregatebau GmbH based in Schweringen, Germany. The agreement entails the supply of seven generating sets powered by +5000 HP V16 engines. These medium speed gensets will be packaged by FRERK Aggregatebau GmbH into modular 15x4m super silenced containers, ensuring a dependable energy source for Germany’s largest Salt Mining Company across four distinct sites.
- In February 2023, Caterpillar Inc. has introduced the Cat XQ330 mobile diesel generator set, presenting a fresh power option for standby and prime power uses that adhere to U.S. EPA Tier 4 Final emission standards. Propelled by a proficient Cat C9.3 Tier 4 Final compliant engine, it incorporates the Cat NOx Reduction System for enhanced efficiency.
- In July 2020, Rolls-Royce bolsters its expansion prospects through the purchase of Kinolt, a Belgian expert in dynamic uninterruptible power supply. Kinolt joins Rolls-Royce’s Power Systems business unit and aligns with its MTU product and solutions brand. This acquisition bolsters Rolls-Royce’s standing in safety-critical sectors and fills gaps in its power supply product range.
Related Reports:
Generator Market – Global Forecast to 2030
Power Rental Market – Global Forecast to 2029
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