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Asia-Pacific Electric Generators Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The market is segmented by Capacity (Below 75 kVA, 75-350 kVA, and Above 350 kVA), End-User (Residential, Industrial, and Commercial), and Geography (India, China, Japan, Australia, Indonesia, and Rest of Asia-Pacific)

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APAC Electric Generators Market Size

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Asia Pacific Electric Generators Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.50 %
Market Concentration Low

Major Players

Asia Pacific Electric Generators Market

*Disclaimer: Major Players sorted in no particular order
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APAC Electric Generators Market Analysis

The Asia-Pacific electric generators market is expected to grow approximately at a CAGR of over 5.5% during the forecast period. Factors such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply are driving the generator sets market in Asia-Pacific. Moreover, the growing energy demands from the burgeoning manufacturing industry are expected to provide greater market opportunities for electric generators. However, factors such as high installation and operating costs and the increasing consumer preference towards eco-friendly alternatives (solar, fuel cells, etc.) are restraining the market's growth.

  • The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for the largest share of energy consumption of any end-use sector, accounting for more than 50% during the forecast period. Hence, the industrial sector is estimated to account for the largest share of the revenue from the sale of electric generators in 2019, owing to the increasing demand for continuous and reliable power supply from the industrial sector.
  • The commercial and industrial sectors of emerging economies, the residential sector of developed economies in Asia-Pacific, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
  • China is expected to be the largest market for electric generators in Asia-Pacific region, due to increasing infrastructure projects, increased demand for uninterrupted electricity, expansion of manufacturing facilities across the nation, and rising commercial office spaces.

APAC Electric Generators Market Trends

This section covers the major market trends shaping the APAC Electric Generators Market according to our research experts:

Industrial Sector to Dominate the Market

  • In 2019, the industrial sector is estimated to account for the largest share in the electric generators market. Industrial operations are mainly dependent on electricity generated from generators during power outages (to avoid production risks) and in regions where grid access is limited.
  • The industrial sector, which includes mining, manufacturing, agriculture, construction,
    data centers and telecommunications accounts for the largest share of energy consumption of any end-use sector. Therefore, the increasing demand for continuous and reliable power supply from these industries, especially from healthcare facilities, pharmaceutical industries, and manufacturing facilities, is expected to escalate the demand for electric generators.
  • China and India are expected to witness robust industrial growth in the coming years on account of the sharp increase in manufacturing sectors, which is expected to drive the demand for electric generators in the industrial sector.
  • The increasing power blackouts have significantly hampered the industrial sector in Indonesia, which has increased the adoption of electric generators in the country to ensure continuous and reliable power supply. South Sumatra and Jakarta are the key contributing areas for the growth of market in Indonesia owing to the frequent power blackouts in these areas.
  • Furthermore, government initiatives to expand the industrial sector, especially in China and India, are expected to continue propelling the demand for electric generators over the forecast period.
Asia Pacific Electric Generators Market - Share (%)

China to Drive the Electric Generators Market

  • In China, the rapid growth in various end-use sectors, such as infrastructure, telecommunication, and information technology (IT) & IT-enabled services is expected to further spur the demand for electric generators.
  • Factors such as the expansion of existing manufacturing units across the country and the dedicated 'Made in China' initiative launched by the Chinese central government are expected to drive the electric generators market in the country.
  • As of 2018, steel production in China accounts for approximately 50% of the global steel production, which makes it a huge market for electric generators, as the steel industry is extremely energy-intensive and its operations are highly dependent on power generated from electric generators during power outages.
  • Therefore, the economic growth in China is expected to drive the demand for electric generators, where power consumption is expected to grow with the increased use of electronic appliances in the commercial and residential sectors.
Asia-Pacific Electric Generators Market - China Electric Generator Market

APAC Electric Generators Industry Overview

The Asia-Pacific electric generators market is partially fragmented. Some of the key players are ABB Ltd, Siemens AG, Caterpillar Inc., Mitsubishi Heavy Industries Ltd., and Cummins Inc.

APAC Electric Generators Market Leaders

  1. ABB Ltd

  2. Siemens AG

  3. Caterpillar Inc.

  4. Mitsubishi Heavy Industries Ltd

  5. Cummins Inc.

*Disclaimer: Major Players sorted in no particular order

Market Concentration - Asia-Pacific Electric Generators Market.png
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APAC Electric Generators Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Capacity

      1. 5.1.1 Below 75 kVA

      2. 5.1.2 75 kVA - 350 kVA

      3. 5.1.3 Above 350 kVA

    2. 5.2 End-User

      1. 5.2.1 Residential

      2. 5.2.2 Industrial

      3. 5.2.3 Commercial

    3. 5.3 Geography

      1. 5.3.1 India

      2. 5.3.2 China

      3. 5.3.3 Japan

      4. 5.3.4 Australia

      5. 5.3.5 Indonesia

      6. 5.3.6 Rest of Asia-Pacifc

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 ABB Ltd

      2. 6.3.2 Caterpillar Inc.

      3. 6.3.3 Cummins Inc.

      4. 6.3.4 Generac Power Systems

      5. 6.3.5 Honda Power Equipment

      6. 6.3.6 Kohler Co.

      7. 6.3.7 Mitsubishi Heavy Industries Ltd

      8. 6.3.8 Siemens AG

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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APAC Electric Generators Industry Segmentation

The Asia-Pacific electric generators market report include:

Capacity
Below 75 kVA
75 kVA - 350 kVA
Above 350 kVA
End-User
Residential
Industrial
Commercial
Geography
India
China
Japan
Australia
Indonesia
Rest of Asia-Pacifc
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APAC Electric Generators Market Research FAQs

The Asia Pacific Electric Generators Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)

ABB Ltd, Siemens AG, Caterpillar Inc., Mitsubishi Heavy Industries Ltd and Cummins Inc. are the major companies operating in the Asia Pacific Electric Generators Market.

The report covers the Asia Pacific Electric Generators Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Electric Generators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia Pacific Electric Generators Industry Report

Statistics for the 2024 Asia Pacific Electric Generators market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Electric Generators analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia Pacific Electric Generators Report Snapshots

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Asia-Pacific Electric Generators Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)