2023

Potentially a Record Year

The year 2023 has been shaping into a record year for the diesel generator set industry.

Now that half-year data is gathered and analyzed, the market is showing growth of 15% over 2022 H1, with a record quarter in Q1.  

Growth Across Power Bands

The most striking feature in the 2023 market numbers is the spike in demand for the 7.5 - 250 kVA band in Q1.  Much of this is attributed to generator sets supplied to Ukraine and removing it from the picture gives an underlying global growth rate of 8 - 10% for the power band, which is likely to be more representative for the year as a whole.  

The 251 - 750 and 751 - 1,500 kVA power bands see a  similar picture with half-year growth of 12 - 15% but underlying growth of 7 - 10%.

Strongest underlying growth remains in higher power bands, 1501 - 3000 kVA and particularly above 3000 kVA where 2023 H1 is around 18% higher than 2022 H1.  Q1 was particularly strong at these ratings, with a slight softening in Q2 to levels which are admittedly still high.  In North America, where around half of the world's hyperscale data centers are located, growth levels at these power bands are significantly higher.  

Growth Across Regions

Globally the strongest underlying growth through 2022 and 23 is in:

• North America, driven primarily by the data center sector and relatively favorable market conditions.  2023 H1 growth is 16% above 2022, and significantly more at higher power ratings.  

• South East Asia where the region’s power grids have been placed under pressure from regular and sustained heatwaves with power rationing for industrial users in some countries.  The region also has a small but fast-growing data center sector.  2023 H1 growth is 17% above 2022.