The mining sector on the basis of verticals attained the major revenue share in Australia Diesel Genset Market – 6Wresearch
The mining sector accomplished the maximum revenue share in 2022. The mining and manufacturing sectors are expected to experience the fastest growth in the diesel genset market due to rapid industrialization and the expanding mining sector. Furthermore, drilling activity across all commodities increased by 50% year over year in 2021, indicating significant growth in the sector. Additionally, the gross value of the manufacturing sector increased from $107.8 billion in 2021 to $124.2 billion in 2022.
According to 6Wresearch, Australia diesel genset market size is projected to shrink at a CAGR of 4.0% during 2023-2029. With the growing investment in infrastructure projects, the demand for diesel gensets across multiple industries including residential, commercial, industrial, and transportation is expected to rise in the upcoming years, which will boost the growth of the market in the country. Sydney and Melbourne are experiencing significant data center expansions, with investments by CDC Data Centres and Microsoft which is expected to boost the demand for diesel gensets for power backup solutions in the coming years. Growing environmental concerns and the government's ambitious goal of achieving 82% renewable electricity by 2030 may hinder the diesel genset market's growth in the country in the coming years. The market has the ability to overcome these challenges.
According to Suryakant, Senior Research Analyst, 6Wresearch, Queensland region is expected to witness the highest growth in the diesel gensets market in the country due to rapid industrialization and the expanding tourism sector. Additionally, there is a growing demand for backup power in case of blackouts or interrupted power supply, which is expected to further increase the demand for diesel gensets in the New South Wales and Victoria regions. Major urban cities like Sydney and Melbourne are located in these regions, making them significant markets for diesel gensets.
The Australia Diesel Genset Market (2023-2029) report provides an in-depth analysis with 22 figures and 9 tables, covered in 80 pages. The report comprehensively covers the market by kVA ratings, verticals, and region. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.