The U.S. diesel genset market will grow at a 7.2% CAGR between 2020 and 2030 (forecast period), to reach $3,797.6 million by 2030 from $2,187.4 million in 2019.
This situation is becoming more dire every day, with the increasing instances of power outages due to the aging grid infrastructure and natural calamities. In 2018, 127 power cuts were reported around the country compared to 95 the previous year. Apart from data centers, nuclear power plants, hospitals, telecom towers, and public transport also require uninterrupted power, which is why the demand for diesel generators in the country is rising rapidly. With many telecom companies planning to expand their 5G infrastructure, diesel genset companies can expect a windfall shortly.
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Backup power and prime power are the bifurcations under the power requirement segment. Of these, the backup power bifurcation held the larger share in the U.S. diesel genset market during the historical period (2014–2019) due to the increasing requirement for backup electricity at healthcare facilities, residential societies, manufacturing plants, and retail shops and other commercial settings. This is ascribed to the rising instances of power outages in the country, with the aging of the grid infrastructure and natural disasters, such as hurricanes and tornadoes, snapping power lines and bending transmission towers.
Market Segmentation by Power Requirement
- Prime Power
- Backup Power
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Market Segmentation by Mobility
Market Segmentation by Power Rating
- 7–14 kVA
- 15–24 kVA
- 25–44 kVA
- 45–69 kVA
- 70–99 kVA
- 100–149 kVA
- 150–199 kVA
- 200–299 kVA
- 300–399 kVA
- 400–499 kVA
- Above 500 kVA
Market Segmentation by Application