Diesel Generator Sets Will Surpass $41 Billion in Annual Revenue by 2018, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- As a source of continuous or prime power, diesel generator sets (gensets) have historically been the leading baseload distributed generation (DG) technology, particularly during power blackouts. One of the least expensive, most reliable DG technologies available today, diesel gensets have expanding opportunities among homeowners and commercial facilities like hospitals and data centers that require mission-critical power in the event of a grid outage. According to a recent report from Navigant Research, worldwide revenue from diesel gensets will reach $41.2 billion by 2018.
"Although providers of diesel gensets can expect to see continued growth over the next several years, they face rising competition from natural gas gensets," says Dexter Gauntlett, research analyst with Navigant Research. "Over the next decade, the increase in unconventional gas resources and tightening emissions regulations for stationary generators will favor clean-burning natural gas systems over their diesel counterparts in North America."
These developments, however, will take time to fully materialize, according to the report. In the short term, countries with strong economic and/or population growth rates that are increasingly burdened by blackouts, such as Nigeria, India, Chile, South Africa, and others, continue to drive diesel genset sales. Industries in India, for example, have become highly dependent on diesel due to power outages spanning as much as 16 hours per day, making them more vulnerable to price volatility.
The report, "Diesel Generator Sets", analyzes the global market potential for diesel gensets, from less than 15 kilowatts to 6 megawatts, for residential, commercial, and industrial applications. The study includes in-depth assessments of global regions for capacity installations, an analysis of global gas resource development, and profiles of the key industry players engaged in this market. Worldwide market forecasts are provided through 2018 for annual installations and revenue, segmented by region and by power class. 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 Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.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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