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Diesel Generator Market Size Expected to Grow $23.4 Billion by 2029 | MarketsandMarkets™
Chicago, May 02, 2024 (GLOBE NEWSWIRE) -- The global Diesel Generator Market size is expected to grow from USD 17.9 billion in 2024 to USD 23.4 billion by 2029, at a CAGR of 5.4% according to a new report by MarketsandMarkets™. Diesel generators are essential because they provide reliable and constant source of electricity during power outages and emergencies. The longevity and durability of diesel generators allow them to operate over extended periods ensuring continuous power supply during emergencies.
The diesel generator market is expanding due to the increasing demand for reliable backup power sources in regions prone to frequent power outages has bolstered the adoption of diesel generators, industries and businesses are increasingly relying on diesel generators to ensure uninterrupted operations, particularly in sectors where power stability is critical, such as healthcare and telecommunications and the portability and versatility of diesel generators make them a popular choice for remote locations or construction sites where grid connectivity may be limited or non-existent.
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Diesel Generator Market Scope:
Report Coverage
Details
Market Size
USD 23.4 billion by 2029
Growth Rate
5.4% of CAGR
Largest Market
Asia Pacific
Market Dynamics
Drivers, Restraints, Opportunities & Challenges