New Study Says Market for New Diesel and Gensets Expected to Surpass $33 Billion by 2026

 

Diesel and natural gensets are the most widely adopted distributed energy resources on the planet. Today’s market shows demand growth for diesel gensets is stagnating as customers look to save money or carbon emissions, and as environmental regulations continue to tighten. Meanwhile, the growing availability of cheap natural gas is driving a shift toward gensets using that fuel.

“The global genset industry has much in common with utilities: century-old business models based around fossil fuels and the journey to adapting to the new reality of smarter, cleaner, and more distributed power,” says Adam Forni, senior research analyst with Navigant Research. “In this changing environment, genset companies are leveraging their distributed advantage while adopting new business models related to microgrids, energy storage, and smart dispatch of power to support the grid.”

According to the report, developing economies undergoing rapid electrification still value the flexibility and efficiency of gensets, while countries across the economic spectrum are expected to adopt more grid-tied gensets to support the rapid growth of intermittent renewables.

The reportMarket Data: Diesel and Natural Gas Generator Sets, analyzes the global market for diesel and natural gas gensets for six segments: residential, commercial and industrial (C&I) standby, C&I prime and continuous, combined heat and power (CHP), utility, and resource extraction. The study examines key market and technology developments, as well as demand drivers and hurdles related to diesel and natural gas gensets. Global market forecasts for capacity and revenue, broken out by segment, region, and country, extend through 2026.

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