Industrial segment acquired the largest market revenue share among the vertical, by application in the overall United Kingdom diesel genset market – 6Wresearch
United Kingdom diesel genset market revenues witnessed notable decline during the period (2018 – 2021) owing to strict government norms such as stage V and the countries net zero carbon emission target by 2050. However, rising construction activities, expansion of public infrastructure, upcoming government policies to support the formation of new industries, increasing telecom infrastructure and growing need to provide power in off-grid and remote areas such as the northern region in United Kingdom are few of the critical factors that is expected to withhold the diesel genset market in an otherwise declining trend in United Kingdom in the coming years.. The hospitality and commercial sector in United Kingdom have been severely impacted by the ongoing pandemic of COVID-19, which caused a halt to manufacturing activities thereby limiting productivity thus resulted shrinking of United Kingdom diesel genset market size. Additionally, disruptions in the supply chain and international trade because of Covid-19 significantly impacted the United Kingdom diesel genset market as the raw materials for diesel genset such as power cables. IC and others became difficult to import. Moreover, the market is expected to decline further during the forecast period on account of substitutes such as development of hydrogen genset.
According to 6Wresearch, United Kingdom Diesel Genset Market size is projected to decline at a CAGR of 4.5% during 2022-28. United Kingdom diesel genset market is anticipated to witness notable decline during the forecast period, on the back of government initiatives to promote green energy to achieve Net Zero emission objective of the United Kingdom by 2050. Such Initiatives are leading to push hydrogen as an alternate fuel, which is further expected to gain traction in the years to come.
According to Navneet Agarwal, Manager, 6Wresearch, “By application, industrial sector accounted for the highest market revenue share in the overall diesel genset market of United Kingdom in 2021 owing to factors such as government’s focus on industrial development including implementation of the required infrastructure, construction of Crossrail (London), Hinkley Point C (UK), Heathrow expansion (London) and other such mega projects wherein gensets are required as a standby power backup”.
According to Shivankar Guha, Research Associate, 6Wresearch, “By kVA rating, above 1000 kVA diesel genset garnered the largest market share on account of its application in high-end industries, energy & utility sector, power grid those requiring huge power demand. Genset rated above 1000 kVA are often used by power utilities for stand by purpose to suffice the electricity demand during peak hours, especially during summer. They constitute a considerable market revenue share of the overall diesel genset market of United Kingdom.”
United Kingdom diesel genset market (2022-2028)” report provides an in-depth analysis with 32 figures and 3 tables, covered in 80 pages. The report estimates and forecast the overall United Kingdom diesel genset market by kVA rating, by application, and by regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.