Asia Commercial Genset Market size is estimated to witness significant growth between 2020 and 2026 driven by continuous construction activities owing to increasing public and private investment towards infrastructure development. Ongoing technological upgradation coupled with shifting consumer inclination towards adoption of power backup solutions will fuel the product installation. Rising demand for uninterrupted power supply following frequent power failures and voltage fluctuations is set to augment the industry outlook.
75-375 kVA rated gensets will experience increased adoption on account of ongoing digitalization across economies comprising India and Indonesia driven by prevailing Industrial Revolution 4.0. In addition, rising research and development activities focused at driving innovations across the gensets industry while offering more energy & fuel-efficient units will propel the market landscape.
Diesel generator sets will gain an appreciable momentum during the forecast period due to its ability to provide flexible and reliable engine performance. Introduction of hybrid fueled engines on account of rising environmental concern focused at reducing the overall carbon emission may pose serious challenge for the deployment of diesel gensets. However, ability to offer economical pricing and prolonged lifespan in conjunction with successful integration of emission effective solutions is set to strengthen the market scenario.
The sudden outbreak of corona virus has resulted in several economies imposing strict ban on public movement with an aim of controlling the virus spread, thereby severely impacting the Asian commercial genset industry operations. However, rising urgency to construct make-shift hospitals to cater to the accelerating count of infected patients and increasing medical tourism will positively influence the product deployment across healthcare establishments. Furthermore, necessity to provide reliable and consistent power supply to the ICUs engaged in COVID-19 hospitals will continue to entail the large-scale product deployment.
Rising electricity demand following surging population growth primarily across Asian nations has forced power utilities to opt for load shedding periods, enhancing the product adoption for peak shaving applications. Growing population share with limited or zero access to electricity coupled with increasing unreliability of power grid driven by unfavorable weather conditions will further complement the industry expansion.
Indonesia market for commercial genset will experience considerable growth through 2026 on account of robust construction of restaurants, hotels and airports with an aim to cater to the booming tourism sector. For instance, the number of international tourists visiting the nation rose from 15.81 million in 2018 to 16.11 million in 2019. Escalating power failures following natural catastrophes comprising volcanic eruptions and earthquakes has resulted in nation-wide electricity outage.
Key participants operating across the market includes Kirloskar Oil Engines Limited, Cummins, Caterpillar, Powerica, Yamaha Motor, Atlas Copco, Ashok Leyland, Supernova Gensets, Himoinsa, and Mitsubishi Heavy Industries, amongst others. Industry players are practicing backward integration to achieve quality standards, economies of scale and in order to sustain their market size.