Diesel Genset Market Share

Regionally, the global diesel genset market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific industry is anticipated to garner the largest revenue share of 41% by 2036, attributed to increasing urbanization and surge in the number of businesses. In other statistics by the World Bank, urban population as a share of total population in the Asia Pacific increased from 41.421% in the year 2000 to 60.695% in the year 2020. On the other hand, the region has also scored significantly over the years in terms of ease of doing business, which is why companies from around the world are increasingly investing in the region. In other statistics by the World Bank, the ease of doing business score in the East Asia & Pacific region grew from 62.7 percentage points in the year 2019 to 63.3 percentage points in the year 2020. Europe & Central Asia scored 73.1 percentage points in the year 2020, up from 71.8 percentage points in the year 2019. The surge in the number of organizations is expected to drive the need for reliable electricity, and in turn drive the market growth in the region.