Market Size of Asia Pacific Electric Generators Industry
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*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 |
Asia Pacific Electric Generators Market Size Summary
The Asia-Pacific electric generators market is poised for significant growth, driven by the increasing demand for power and the need for reliable backup solutions due to inadequate grid infrastructure. The burgeoning manufacturing industry in the region is a major contributor to this demand, as it requires a steady power supply to maintain operations. However, the market faces challenges such as high installation and operating costs, along with a growing consumer shift towards eco-friendly energy alternatives like solar and fuel cells. Despite these challenges, the industrial sector, encompassing mining, manufacturing, agriculture, and construction, remains the largest consumer of electric generators, highlighting the sector's critical need for continuous and reliable power supply.
China is anticipated to lead the market in the Asia-Pacific region, fueled by extensive infrastructure projects and a rising demand for uninterrupted electricity. The country's expansion of manufacturing facilities and commercial spaces further bolsters this demand. Similarly, India is expected to experience robust industrial growth, driving the need for electric generators. In Indonesia, frequent power blackouts have accelerated the adoption of generators to ensure consistent power supply, particularly in key areas like South Sumatra and Jakarta. Government initiatives in China and India to expand the industrial sector are also expected to sustain the demand for electric generators, making the region a dynamic market for industry players.
Asia Pacific Electric Generators Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, till 2025
-
1.3 Recent Trends and Developments
-
1.4 Government Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply Chain Analysis
-
1.7 Porter's Five Forces Analysis
-
1.7.1 Bargaining Power of Suppliers
-
1.7.2 Bargaining Power of Consumers
-
1.7.3 Threat of New Entrants
-
1.7.4 Threat of Substitutes Products and Services
-
1.7.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Capacity
-
2.1.1 Below 75 kVA
-
2.1.2 75 kVA - 350 kVA
-
2.1.3 Above 350 kVA
-
-
2.2 End-User
-
2.2.1 Residential
-
2.2.2 Industrial
-
2.2.3 Commercial
-
-
2.3 Geography
-
2.3.1 India
-
2.3.2 China
-
2.3.3 Japan
-
2.3.4 Australia
-
2.3.5 Indonesia
-
2.3.6 Rest of Asia-Pacifc
-
-
Asia Pacific Electric Generators Market Size FAQs
What is the current Asia Pacific Electric Generators Market size?
The Asia Pacific Electric Generators Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Electric Generators Market?
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.