Stable Generator Power Demands Growing Year After Year
Power Deficiencies Are Fueling Rise In Diesel Generator Demand Worldwide
Diesel generators are becoming more common as the power grid becomes less dependable with age, growing demand and extreme weather which pushes the system to the limit. Diesel generators are “quietly” working behind the scenes all around us as they supply stable and dependable power to schools, hospitals, large hotels, zoos, and data centers, just to name a few applications. It’s no secret, organizations and individuals are looking to keep the lights on and operations running in the event of more frequent power outages.
Brian La Rue
| 3/16/2023 9:06:08 AM
The global diesel generator market grew from $18.82 billion in 2022 to $21.07 billion in 2023 at a compound annual growth rate of 11.9%. The diesel generator market is expected to grow to $35.25 billion by 2027 at a rate of 13.7%, according to the 2023 Diesel Generator Global Market Report, via Globe Newswire.
The Asia-Pacific region, consisting of Western Europe, Eastern Europe, North America, South America, Middle East and Africa is the largest region in the diesel generator market in 2022. The rise in demand for continuous and stable power supply will continue to propel the growth of the diesel generator market.
A continuous and uninterrupted power supply is essential to operation of any business/industry or for domestic purposes. Many regions still do not have a reliable power supply and face power outages often, leading to interruptions and losses for industries, according to the report.
According to data from the Central Electricity Authority of India, all of India's power supply demand in January 2021 was 190,253 MW (megawatt) but the demand met was 189,644 MW, with a deficit rate of -0.3%. Similarly, January 2020 was 171,592 MW but the demand met was 170,492 MW, with a deficit rate of -0.6%. This gap between the demand and supply indicates that there is a continuous shortage/interruption in the power supply. Therefore, the rise in demand for diesel generators grew again, and it will only get worse as more electric items like cars are added to the mix.
Technological advancement are also being seen in the diesel generator market. Companies are implementing next-generation advancements in diesel generator technologies such as noise reduction, emissions control systems, combustion chamber modifications, advanced power output, offsite monitoring systems, and more. These advanced diesel generators are offered to meet the industry demand for maximum output with reduced environmental impacts.
One Example, in August 2021, Cummins India Limited, an India-based diesel, and alternative fuel engines manufacturing company introduced the QSK60 G23: a 2500-2750 kVA Diesel Generator set made in India. It is an integrated power solution with increased power density that minimizes downtime, reduces the cost of ownership, and offers reliable performance with a minimized carbon footprint. The company designed this diesel generator set to target the industry segments such as data centers and large-scale infrastructure projects such as airports and commercial realty in India with rising power requirements.
Does your business have backup or standby power in the form of a generator? You might want to think about adding power generation to your portfolio as your competitors probably already have. Never miss a business opportunity or suffer with downtime. See what Generator Source has as an option today at https://www.generatorsource.com/. Don't forget about your personal life either. Home backup power options can be seen at https://generatormart.com/.
| 0 comments