Diesel Generators Market to Witness Astonishing Growth by 2028 | Caterpillar Inc, Cummins Inc, Generac Holdings Inc, Kohler Co, Mitsubishi Heavy Industries Ltd
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Surging demand from residential, commercial, and industrial sectors is expected to drive the market. In addition, rising demand from various emerging economies is expected to propel demand over the forecast period.
The current demand for electricity globally far outstrips the supply. Factors such as continuous population growth, infrastructure development and rapid industrialization in emerging economies are pacing demand for power. Diesel gensets have numerous advantages such as low operating costs and better fuel efficiency.
According to the report, the diesel generators market has been segmented by application (standby power, peak shaving, prime or continuous power), by power rating (0-100 kVA, 100-350 kVA, 350-1000 kVA, above 1000 kVA), by end-user (industrial, commercial, residential).
Insights about regional distribution of market:
Major regions for the diesel generators market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for diesel generators owing to the strong presence of the industrial sector.
Asia Pacific and Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. Among these industries government & defense, education & research, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, and earth sciences are estimated to register high demand for diesel generators market.
The industrial sector has been one of the key contributors to the economies in these regions.
Major industries ...
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