DUBLIN–(BUSINESS WIRE)–The “U.S. Diesel Genset Market Research Report: By Power Rating, by Application – Competitive Analysis and Growth Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The U.S. diesel genset market is predicted to attain a size of $3,005.5 million by 2024, progressing at a 6.2% CAGR during the forecast period.
The key factor behind the growth of the market is the increasing demand for diesel gensets for meeting the need for standalone and backup power in industries, residential buildings, construction sites, retail stores, hospitals, office spaces, and hotels. The continuous instances of power outage in the U.S. because of aging grid infrastructure are leading to the high adoption of backup power sources.
Backup power sources include photovoltaic (PV) power systems and diesel or gas gensets, among which diesel gensets are being rapidly adopted due to their high reliability and low initial capital cost. Commercial offices and manufacturing plants are some of the end users in the U.S. diesel genset market. The sale of diesel gensets is predicted to surge during the forecast period owing to their growing installation rate in educational institutions, commercial offices, and residential buildings. On the basis of power rating, the market is categorized into 5-75 kVA, 76-375 kVA, 376-750 kVA, and above 750 kVA.
Out of these, during the historical period, the 5-75 KVA category led the market in terms of sales volume, which is attributed to the heavy requirement for these gensets in commercial complexes, residential buildings, hotels, and other areas with low power consumption. Further, based on application, the U.S. diesel genset market is classified into industrial, commercial, and residential. Among these, in 2018, the commercial classification held the largest sales volume share of more than 55.0% in the market. This can be attributed to the significant demand for high-power gensets in data centers and commercial buildings for prime and backup power supply.
As per the 2018 North America Construction Forecast Report, during 2017-18, the construction in the U.S.’s non-residential and residential sectors grew by 4.0% and 6.0%, respectively. Thus, the expanding construction sector is predicted to boost the sale of diesel gensets during the forecast period, thereby resulting in the growth of the diesel genset market in the U.S. Further, in the commercial office application, data centers are being witnessed as the largest revenue contributor in the market.
As per a report published by CBRE Data Center Solutions in 2018, the emergence of new technologies, including internet of things, artificial intelligence, edge computing, and cloud computing, is accelerating the development of hyperscale data centers, which are integrated with thousands of servers, and thus need a smooth electricity supply for efficient operations. Thus, the demand for uninterrupted electricity supply in data centers is projected to surge the diesel genset sales, which is further predicted to augment the U.S. diesel genset market prosperity during the forecast period.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Power Rating
1.3.2 Market Segmentation by Application
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
220.127.116.11 By industry participant
18.104.22.168 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Power Rating
22.214.171.124 5 kVA-75 kVA
126.96.36.199 76 kVA-375 kVA
188.8.131.52 376 kVA-750 kVA
184.108.40.206 Above 750 kVA
4.1.2 By Application
220.127.116.11.1 Retail establishments
18.104.22.168.2 Commercial offices
22.214.171.124.3 Telecom towers
126.96.36.199.2 Energy and power
4.2 Value Chain Analysis
4.3 Market Dynamics
188.8.131.52 Launch of advanced diesel gensets
184.108.40.206 Increase in the number of data centers
220.127.116.11 Instances of power outage and the need for continuous power supply for certain operations
18.104.22.168 Growth in construction industry
22.214.171.124 Impact analysis of drivers on market forecast
126.96.36.199 Adoption of alternative power sources
188.8.131.52 Impact analysis of restraints on market forecast
184.108.40.206 Growth in the mining industry
4.4 Regulation Analysis
4.4.1 Emission Standards and Related Requirements for Steady-State Testing of Engines
220.127.116.11 Optional standards for diesel gensets below 8 kW
18.104.22.168 Regulations for gensets covered under the primary family emission limit (FEL) caps
4.4.2 General Conditions
4.5 Import-Export Analysis
4.6 Porter’s Five Forces Analysis
4.6.1 Bargaining Power of Buyers
4.6.2 Bargaining Power of Suppliers
4.6.3 Intensity of Rivalry
4.6.4 Threat of New Entrants
4.6.5 Threat of Substitutes
Chapter 5. U.S. Market Size and Forecast
5.1 By Power Rating
5.2 By Application
5.2.1 Commercial Application, By User
5.2.2 Industrial Application, By User
Chapter 6. Competitive Landscape
6.1 Market Share Analysis of Key Players
6.2 Competitive Benchmarking of Key Players
6.3 Product Mapping of U.S. Diesel Genset Market Players
6.3.1 Product Offerings of Major Market Players
6.3.2 Product Offerings of Other Market Players
6.4 Strategic Developments of Key Players
6.4.1 Mergers and Acquisitions
6.4.2 Product Launches
6.4.4 Facility Expansions
6.4.5 Client Wins
Chapter 7. Company Profile
7.1 Caterpillar Inc.
7.1.1 Business Overview
7.1.2 Product and Service Offerings
7.1.3 Key Financial Summary
7.2 General Electric Company
7.3 Cummins Inc.
7.4 Denyo Co. Ltd.
7.5 Southwest Products Corporation
7.6 American Honda Motor Co. Inc.
7.7 AB Volvo
7.8 Atlas Copco AB
7.9 Generac Holdings Inc.
7.1 Kohler Co.
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Related Topics: Electricity