Diesel Gensets Market to Grow at CAGR 7.4% Till 2021: TechSci Research Report
NEW YORK, August 16, 2016 /PRNewswire/ --
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.
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Global Electricity Demand, 2015, 2020F & 2025F (Quadrillion Btu)
Electricity Demand
Year (Quadrillion Btu)
2015 550
2020 590
2025 640
Source: TechSci Research
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.
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