South Korea Diesel Generator Market Size & Outlook
South Korea diesel generator market, 2019-2030 (US$M)
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South Korea diesel generator market highlights
- The South Korea diesel generator market generated a revenue of USD 430.0 million in 2022 and is expected to reach USD 915.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.9% from 2023 to 2030.
- In terms of segment, low power gensets was the largest revenue generating power rating in 2022.
- Medium Power Gensets is the most lucrative power rating segment registering the fastest growth during the forecast period.
Diesel generator market data book summary
| Market revenue in 2022 | USD 430.0 million |
| Market revenue in 2030 | USD 915.8 million |
| Growth rate | 9.9% (CAGR from 2022 to 2030) |
| Largest segment | Low power gensets |
| Fastest growing segment | Medium Power Gensets |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low Power Gensets, Medium Power Gensets, High Power Gensets |
| Key market players worldwide | Atlas Copco AB Class A, Caterpillar Inc, Cummins Inc, Generac Holdings Inc, Honda Motor Co Ltd, Kohler, Rolls-Royce Holdings PLC, Wartsila Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.8% of the global diesel generator market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China diesel generator market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,165.1 million by 2030.
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Diesel Generator Market Scope
Diesel Generator Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea diesel generator market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to diesel generator market will help companies and investors design strategic landscapes.
Low power gensets was the largest segment with a revenue share of 50.09% in 2022. Horizon Databook has segmented the South Korea diesel generator market based on low power gensets, medium power gensets, high power gensets covering the revenue growth of each sub-segment from 2019 to 2030.
Diesel generators are used for backup power applications various industries including power sector manufacturing, commercial spaces, and others. The country is experiencing a rapid rise in the demand for electricity owing to growing industrial activities for which the country’s government plans to have more than 150 GW of installed capacity by 2030, which is expected to propel the demand for diesel generator in the power sector.
OEMs are enhancing their presence in the country by providing diesel generators with long-term services contracts with the power plant owners. These developments are estimated to fuel the growth of diesel generators in the country over the forecast period. Also growing demand for back -power from the residential segment is further expected to drive the South Korea diesel generator market.
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Our clientele includes a mix of diesel generator market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea diesel generator market , including forecasts for subscribers. This country databook contains high-level insights into South Korea diesel generator market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea diesel generator market size, by power rating, 2019-2030 (US$M)
South Korea Diesel Generator Market Outlook Share, 2022 & 2030 (US$M)
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