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Asia-Pacific Generator Sets Market Size (2024 - 2029)

The Asia-Pacific generator sets market is experiencing growth driven by the increasing demand for power and the need for reliable backup solutions, despite challenges such as high costs and a shift towards eco-friendly alternatives. The market's capacity landscape is dominated by generators below 75 kVA, largely due to demand from telecom, retail, and residential sectors. Emerging economies' commercial and industrial sectors, along with developed economies' residential sectors and defense operations, present significant opportunities for market expansion. China holds a substantial portion of the market share, fueled by demand from commercial spaces and small-scale vendors.

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Market Size of Asia-Pacific Generator Sets Industry

Asia-Pacific diesel generator market: Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 6.70 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

APAC Generator Sets Market Analysis

The Asia-Pacific generator sets market is expected to grow at a CAGR of more than 6.7% over the period of 2020-2025. 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. However, factors, such as high installation and operating costs and the consumer preference towards eco-friendly alternatives (solar, fuel cells, etc.) are restraining the market's growth.

  • Below 75 kVA capacity generators are estimated to have the largest market share during the forecast period, supported by the increase in demand from telecom, retail, other commercial buildings, and residential sectors.
  • The commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
  • China accounted for the largest share in the market in 2019, with majority of the demand coming from across the nation and rising commercial office spaces and small-scale vendors.

APAC Generator Sets Industry Segmentation

The Asia-Pacific generator sets market report includes:

Capacity
Below 75 kVA
75-350 kVA
Above 350 kVA
End-User
Residential
Commercial
Industrial
Application
Standby Backup Power
Prime/Continuous Power
Peak Shaving
Geography
China
India
Japan
Rest of Asia-Pacific
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Asia-Pacific Generator Sets Market Size Summary

The Asia-Pacific generator sets market is poised for significant growth, driven by the increasing demand for reliable power sources due to inadequate grid infrastructure and the necessity for emergency backup solutions. The market is experiencing a surge in demand, particularly for generator sets with a capacity of less than or equal to 75 kVA, which are widely used in sectors such as telecommunications, retail, and residential areas. This growth is further supported by the expanding commercial and industrial sectors in emerging economies and the rising need for power in defense operations. However, the market faces challenges from high installation and operating costs, as well as a shift in consumer preference towards more eco-friendly energy alternatives like solar and fuel cells.

China stands out as the dominant player in the Asia-Pacific generator sets market, benefiting from its extensive infrastructure projects and the growing demand for power backup solutions. The country's focus on expanding manufacturing facilities and improving living standards has bolstered the demand for diesel generators. Additionally, initiatives like the 'Made in China' policy are expected to further stimulate the market. The fragmented nature of the market sees key players such as Cummins Inc, Mitsubishi Heavy Industries Ltd, Siemens AG, Caterpillar Inc., and ABB Ltd competing for market share. The ongoing development in the building and construction sectors, particularly in India and China, is anticipated to drive the demand for portable generators, thereby enhancing the market's growth trajectory.

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Asia-Pacific Generator Sets Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Capacity

      1. 2.1.1 Below 75 kVA

      2. 2.1.2 75-350 kVA

      3. 2.1.3 Above 350 kVA

    2. 2.2 End-User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

      3. 2.2.3 Industrial

    3. 2.3 Application

      1. 2.3.1 Standby Backup Power

      2. 2.3.2 Prime/Continuous Power

      3. 2.3.3 Peak Shaving

    4. 2.4 Geography

      1. 2.4.1 China

      2. 2.4.2 India

      3. 2.4.3 Japan

      4. 2.4.4 Rest of Asia-Pacific

Asia-Pacific Generator Sets Market Size FAQs

The Asia-Pacific Generator Sets Market is projected to register a CAGR of greater than 6.70% during the forecast period (2024-2029)

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

Asia-Pacific Generator Sets Report Snapshots

Asia-Pacific Generator Sets Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)