LONDON--(BUSINESS WIRE)--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. Request Free Sample Pages
Read the 153-page research report with TOC on "Low Voltage (LV) Diesel Generators Market Analysis Report by End-user (Commercial, Residential, and Industrial), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024".
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. 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. 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. 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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Low Voltage (LV) Diesel Generators End-user Outlook (Revenue, USD Billion, 2020-2024)
Low Voltage (LV) Diesel Generators Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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