Global Diesel Genset Market Share
The market for diesel generator sets was valued at US$ 14.23 billion globally in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% to reach US$ 25.61 billion by 2030. The markets for diesel generator sets worldwide are divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The region of Asia Pacific is anticipated to become the global leader in the diesel generator set market due to its growing population and persistent power supply-demand imbalance. Because there are so many significant competitors in the Asia Pacific diesel genset market, such as Kirloskar Electric Co. Ltd., Caterpillar Inc., Cummins Inc., F.G. Wilson Inc., and Himoinsa S.L., the market is expected to grow at a significant rate. Furthermore, Asia Pacific is anticipated to Currently the nations that are developing the fastest in terms of population growth and manufacturing division are China, India, Australia, South Korea, and Malaysia. The global diesel generator market is expected to increase due to rapid industrialization, urbanization, and government initiatives to provide energy in rural areas.