By November 23, 2015 Read More →

$538 billion global revenue from diesel gensets 2015 to 2024 – study

Diesel gensets fastest growing source of distributed power

BOULDER, Colo.-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. According to Navigant, 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.

diesel generator

Solar PV costs are dropping rapidly.

“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.

Posted in: News

Comments are closed.