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America Diesel Gensets Market to Record Stellar Growth Rate by 2026
Published Date: 2020-02-18
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According to the Graphical Research new growth forecast report titled “America Diesel Gensets Market Share By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By End-Use (Residential, Commercial, Industrial), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Country Analysis (U.S., Canada, Mexico, Brazil, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020–2026”, to Record Stellar Growth Rate by 2026.
Growing demand for uninterrupted electricity supply along with frequent occurrences of power failure owing to poor T&D network and weather-related disasters is anticipated to augment the America diesel gensets market growth. Rapid industrialization coupled with expansion of service industry is set to boost the business outlook. Further, increase in disposable income coupled with rising consumer preference toward independent energy source will stimulate the product installment.
The U.S. is projected to grow on account of customer demand for reliable power and rise in infrastructure development. Blackouts due to extreme weather conditions coupled with ageing grid infrastructure is anticipated to strengthen the industry scenario. For instance, in 2019, as per the U.S. Energy Department, around 1.7 million customers were left without electricity across 6 states as a result of Hurricane Michael.
375-750 kVA market is set to grow on account of booming telecom sector and growing number of data centers. Unprecedented expansion in technologies and services requiring reliable electricity source owing to fast processing of large data is projected to drive the product adoption. Backup demand in large commercial buildings and institutions for continuous operations will further propel the business outlook.
Commercial diesel gensets market is set to grow on account of soaring investments in IT and retail sector along with development of SEZs. Rising urbanization and rapid expansion of communication networks will stimulate the product adoption. Moreover, uninterrupted electricity requirement for operations coupled with financial loss owing to power outage is anticipated to strengthen the business scenario.
Expanding construction sector and increasing demand for commercial and residential establishments is projected to propel the Canada diesel gensets market growth. Reliable energy supply requirement across various applications comprising railways, shipping and others will augment the industry outlook. For instance, in 2017, Government of Canada declared ‘Investing in Canada’ plan to spend around USD 180 billion in infrastructure projects over next 12 years.
Standby diesel gensets market is anticipated to grow owing to inadequate power generation infrastructure and requirement for continuous and reliable supply across industrial and service sector. Increasing demand from various end-users comprising data centers, healthcare facilities, educational institutions, telecom, and others to meet emergency situations is set to propel the business outlook.
Major industry players have adopted various growth tactics including joint ventures, M&A, new product launches, partnerships and technological advancements to reinforce their position. The leading industry players include Caterpillar, C&S Electric, Ingersoll-Rand, Yamaha Motor, Ashok Leyland, Sterling Generators, Himoinsa, SDMO, Honda, Cummins, Escorts Group, Briggs & Stratton, KOEL and Generac amongst others.
America Diesel Gensets Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
America Diesel Gensets Market Share, By Power Rating
- <75 kVA
- 75-375 kVA
- 375-750 kVA
- >750 kVA
America Diesel Gensets Market Share, By End-Use
America Diesel Gensets Market Share, By Application
- Peak Shaving