The
global low voltage (LV) diesel generators market is poised to grow
by USD 4.62 billion during 2020-2024, progressing at a CAGR of almost 10%
during the forecast period.
The higher demand for electricity and unreliable grid infrastructure in
emerging economies and adoption of smart monitoring solutions are factors
anticipated to boost the growth of the market.
The demand for electricity is increasing in emerging economies such as
India and China due to increase in population. For instance, in 2018, energy
consumption in China grew by more than 3% since 2017, while in India, it grew
by 7% since 2017. The power grid infrastructure in these economies is
unreliable with respect to handling the increasing demand for electricity and
thus experiences frequent power outages. This is driving the need for LVDGs as
a backup power source to counter power outage and power shortage issues. LVDGs
provide end-users with an uninterrupted power supply from utility services.
Thus, the higher demand for electricity and unreliable grid infrastructure in
emerging economies is expected to drive market growth during the forecast
period.
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Major Five Low Voltage (LV) Diesel Generators Market Companies:
ABB Ltd.
ABB Ltd. is headquartered in Switzerland and operates the business under
various segments such as Electrification Products, Industrial Automation,
Robotics and Motion, and Corporate and Other. The company provides LVDG for
various applications across industries.
Atlas Copco AB
Atlas Copco AB is headquartered in Sweden and offers products through
the following business units: Compressor Technique, Vacuum Technique,
Industrial Technique, and Power Technique. The company provides mobile diesel
generators in the LVDG category.
Briggs & Stratton Corp.
Briggs & Stratton Corp. is headquartered in the US and operates
under various business segments, namely Engines and Products. The company
provides portable LVDGs and standby LVDGs.
Caterpillar Inc.
Caterpillar Inc. is headquartered in the US and offers products through
the following business segments: Resource Industries, Construction Industries,
Energy and Transportation, and Financial Products. The company offers a range
of LVDGs for various applications.
Cummins Inc.
Cummins Inc. is headquartered in the US and offers products through the
following business segments: Engine, Distribution, Components, Power Systems,
and Electrified Power. The company offers LVDGs for various applications such
as industrial, commercial, and residential.
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