Global Revenue from Diesel Generator Set Installations is Expected to Total $538 Billion from 2015 to 2024, According to Navigant Research
Diesel generator sets can provide effective resiliency options
when combined with renewable resources in a microgrid, report finds
A recent report from Navigant
Research examines the global market for diesel generator sets
(gensets) in residential, commercial, industrial, and power plant
applications, including global market forecasts for capacity and
revenue, through 2024.
Today, reciprocating engine-based diesel gensets are among the
fastest-selling, least expensive distributed generation (DG)
technologies in the world and cover many specialized segments that span
different power classes, applications, and end-use customers. While
natural gas (NG) gensets are now capturing increasing market share due
to emissions regulations and lower fuel costs, the low capital cost and
fast-start capabilities of diesel gensets make them well-suited for
backup power, oil & gas, and in critical infrastructure applications,
among others. Developing countries that are burdened by unreliable power
grid infrastructure are expected to continue to be one of the major
drivers of diesel genset sales in the short term across all power
classes. Click
to tweet: According to a recent report from Navigant Research,
revenue from diesel genset installations is expected to total $538
billion from 2015 to 2024.
“While diesel generators will continue to see demand growth among
traditional customer types, original equipment manufacturers (OEMs) are
increasingly looking at service offerings that integrate renewable
energy such as solar PV and wind,” says Dexter Gauntlett, senior
research analyst with Navigant Research. “Renewable energy is both a
threat and an opportunity for diesel genset OEMs, and we are starting to
see significant partnership activity among leading diesel generator and
solar PV companies in particular.”
Since they can be tuned to match load during lapses of power, diesel
gensets are particularly effective at firming renewable resources that
may be available on an intermittent basis, according to the report. When
combined with renewables in a microgrid, diesel generators can also work
together to increase resiliency for critical facilities.
The report, Diesel
Generator Sets, analyzes the global market potential for diesel
gensets for residential, commercial, industrial, and power plant
applications. The study includes assessments of global regions for
capacity installations, an analysis of market drivers and barriers, and
a comparison of diesel and natural gas gensets. Global market forecasts
for annual capacity additions and revenue, segmented by country and
region, extend through 2024. The report also examines the key
technologies and components related to diesel gensets, as well as the
competitive landscape. An Executive Summary of the report is available
for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge with
technical expertise to enable companies to defend, protect and create
value. With a focus on industries and clients facing transformational
change and significant regulatory and legal issues, the Firm serves
clients primarily in the healthcare, energy and financial services
sectors which represent highly complex market and regulatory
environments. Professional service offerings include strategic,
financial, operational, technology, risk management, compliance,
investigative solutions, dispute resolutions services and business
process management services. The Firm provides services to companies,
legal counsel and governmental agencies. The business is organized in
four reporting segments – Disputes, Investigations & Economics;
Financial, Risk & Compliance; Healthcare; and Energy. More information
about Navigant can be found at navigant.com.
* The information contained in this press release concerning the
report, Diesel Generator Sets, is a summary and reflects Navigant
Research’s current expectations based on market data and trend analysis.
Market predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press release
or the report. Please refer to the full report for a complete
understanding of the assumptions underlying the report’s conclusions and
the methodologies used to create the report. Neither Navigant Research
nor Navigant undertakes any obligation to update any of the information
contained in this press release or the report.
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