-- Offering dual fuel generators will offset several challenges and add to market demand
MOUNTAIN VIEW, California, Oct. 21, 2014 /PRNewswire/ -- A burgeoning world population and escalating need for electricity is powering the global diesel generator set market. Investments in infrastructure such as roads, railways and airports, particularly in Russia, China and India, open up additional opportunities for generator set vendors.
New analysis from Frost & Sullivan, Analysis of the Global Diesel Generator Set Market, finds that the market earned revenues of $11.22 billion in 2013 and estimates this to reach $15.72 billion in 2018. The study covers the residential, industrial, commercial and institutional end-user segments.
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"Lack of reliable grid infrastructure in several regions encourages the uptake of diesel generator sets," said Frost & Sullivan Energy and Environmental Industry Analyst Rajalingam Chinnasamy. "Natural disasters and terrorist attacks have highlighted the need for emergency backup power solutions, widening the scope for diesel generator set manufacturers around the world."
However, this growth will be tempered to an extent by the availability of cheap gas, which will lead end-users to opt for gas generator sets over diesel sets. Growing environmental concerns among the general public are also turning end-user attention towards alternate power generation sources such as solar and fuel cells.
Ways in which participants in the diesel generator set market can sustain and grow market share include:
- The introduction of dual fuel generators, which appeal to a larger consumer base
- Offering customized servicing packages with new generator sets to attract consumers across segments
- Offering a complete one-stop solution in the higher output ranges to build consumer loyalty
- Inorganic growth, which is the best strategy to penetrate markets in Latin America, India and China
Analysis of the Global Diesel Generator Set Market is part of the Energy & Power Growth Partnership Service program. Frost & Sullivan's related studies include: North American Generator Set Market, Global Gas Gen-Sets Market, Global Gas and Steam Turbine Markets. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Diesel Generator Set Market
Corporate Communications – North America
SOURCE Frost & Sullivan