Italy Diesel Gensets Market Forecast 2024-2028
The Italy Diesel Gensets Market size is forecast to increase by USD 31.19 million, at a CAGR of 5.32% between 2023 and 2028. The growth rate of the market depends on several factors, such as the low operating costs of diesel gensets, the demand for diesel gensets in regions with unstable electricity infrastructure and the increasing demand for uninterrupted power supply. Our report examines historic data from 2018 - 2022, besides analyzing the current and forecasts market scenario.
ABB Ltd provides a range of diesel gensets, encompassing generators with end shield bearings, pedestal bearings, high voltage compact generators, and Low Voltage (LV) diesel generators. Atlas Copco AB offers diesel gensets, including the QES Series tailored for mobile and versatile power solutions, the QAC Series designed for industrial and heavy-duty applications, and the QAS Series ideal for construction, events, and various industries.
Market Forecasting and Size
Market Forecast 2024-2028
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Market Dynamics
Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Driver - Low operating costs of diesel gensets
The low operating cost of diesel gensets stands as a significant factor that drives the Italian market, influencing their widespread adoption across various sectors. In addition, diesel gensets are renowned for their cost-effectiveness due to several factors such as diesel fuel tends to be more economical compared to alternative fuels such as natural gas or gasoline.
Moreover, this affordability translates into lower fuel expenses for diesel genset operators, making them an attractive option for long-term use. In addition, diesel engines are known for their high efficiency and durability, requiring minimal maintenance and operating costs over their lifespan. Furthermore, routine maintenance tasks, such as oil changes and filter replacements, are relatively simple and cost-effective, contributing to overall lower operating expenses. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market during the forecast period.
Trends - Emergence of bi-fuel portable generators
Gensets manufacturers have been emphasizing technological developments in generators that enable them to develop bi-fuel portable generators. In addition, bi-fuel technology is, however, not restricted to portable generators. Furthermore, this technology, when incorporated into portable units, provides significant fuel-saving and environmental benefits.
Moreover, generators that use bi-fuel technology can operate on about 70% natural gas, which includes scrubbed and cleaned well-head gas. In addition, the system controller manages the fuel mixture that helps the equipment perform optimally under load. Furthermore, the use of gas is gradually becoming imperative as petroleum producers need to reduce and eliminate flaring. Hence, such factors are driving the market during the forecast period.
Challenge - Growing demand for alternative backup power equipment
Alternative backup power equipment is gradually emerging in the market and gaining traction which is likely to hamper the growth of the regional market particularly the portable diesel gensets. In addition, the alternative backup power equipment comprises a large battery coupled with an in-built inverter.
Moreover, alternative backup power equipment has been in existence in the market for quite a long time and is not a new invention. In addition, their market share has increased recently owing to the growing popularity of alternative backup power equipment. Furthermore, battery technology is now advanced to the extent that the sealed direct current (DC) battery is small yet powerful enough to be coupled with an onboard inverter that generates enough AC voltage to run household appliances. Hence, such factors are hindering the market growth during the forecast period.
Market Segmentation by Application, Product, and Power Rating
Application Segment Analysis:
The commercial segment is estimated to witness significant growth during the forecast period. In Italy, the commercial segment comprises a significant portion of the market, driven by diverse applications across various industries, such as the automotive industry. In addition, one prominent application is in the retail sector, where diesel gensets provide backup power to supermarkets, shopping centers, and small businesses, ensuring uninterrupted operations during grid outages or emergencies.
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The commercial segment was the largest segment and was valued at USD 58.91 million in 2018. Moreover, diesel gensets are extensively utilized in the hospitality industry, providing reliable power backup for hotels, restaurants, and resorts to maintain essential services and guest comfort. In addition, the healthcare sector heavily relies on generators to ensure uninterrupted power supply to hospitals, clinics, and medical facilities. Furthermore, these gensets play a critical role in powering life-saving medical equipment, refrigeration units for storing vaccines and medicines and maintaining essential facilities such as lighting and Heating, ventilation, and air conditioning (HVAC) systems. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Product Segment Analysis:
Based on the product, the market has been segmented into stationary generators and portable generators. The stationary diesel gensets?segment will account for the largest share of this segment. The main advantage of these stationary generators segment is that they are priced low and require more space than stationary generators as they have a high-power rating. In addition, stationary generators with a larger capacity are ideal for applications in the utility, construction, mining, agriculture, oil and gas, and petrochemical industries, besides data centers, telecommunication, manufacturing, mining, and automotive industries, among others. Furthermore, these stationary generators are rugged and reliable and are designed for use in applications such as standby power sources. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Who are the Major Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Caterpillar Inc: The company offers diesel gensets such as Diesel Generator Sets C1.1, Diesel Generator Sets C1.5, Diesel Generator Sets C2.2 and others.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Cummins Inc., Deere and Co., Doosan Corp., Generac Holdings Inc., Isuzu Motors Ltd., Iveco Group N.V, J C Bamford Excavators Ltd., Kohler Co., Mahindra and Mahindra Ltd., Mitsubishi Heavy Industries Ltd., Rolls Royce Holdings Plc, Visa S.p.A, Wacker Neuson SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd.
Technavio market forecast the an in-depth research of the market and its players through combined qualitative and quantitative data. The research classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data research.
Segment Overview
The market analysis and report forecasts market growth and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028.
- Application Outlook
- Commercial
- Industrial
- Residential
- Product Outlook
- Stationary diesel gensets
- Portable diesel gensets
- Power Rating Outlook
- Low power
- Medium power
- High power
Market Analyst Overview
The market in Italy is experiencing significant growth driven by factors such as rapid digitalization, rising income, and urbanization. The demand for reliable power sources in commercial and residential buildings has surged, particularly with the global construction sector witnessing substantial expansion. Insufficient power supply in some regions has led to a growing adoption of these systems, especially in smart cities undergoing infrastructural upgrades. The Indian government's Smart City Mission has further propelled the market.
However, challenges like high initial and maintenance costs, fuel prices, and the need for fuel-efficient solutions persist. Manufacturers are focusing on developing diesel gensets, particularly in the ≤ 50 kVA power rating segment, to address these concerns. Additionally, the work-from-home trend, highlighted by the American Community Survey conducted by the U.S. Census Bureau, emphasizes the importance of reliable power sources, with many Americans working from home. This trend contributes to the sustained growth of the market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
149 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.32% |
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Market Growth 2024-2028 |
USD 31.19 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.81 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Atlas Copco AB, Caterpillar Inc., Cummins Inc., Deere and Co., Doosan Corp., Generac Holdings Inc., Isuzu Motors Ltd., Iveco Group N.V, J C Bamford Excavators Ltd., Kohler Co., Mahindra and Mahindra Ltd., Mitsubishi Heavy Industries Ltd., Rolls Royce Holdings Plc, Visa S.p.A, Wacker Neuson SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment, COVID-19 impact and recovery and future consumer dynamics, Market condition for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the regional market between 2023 and 2028
- Precise estimation of the market growth and trends and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
- Market growth and forecasting across Italy
- A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
- Comprehensive market report analysis of factors that will challenge the growth of market companies
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