Asia Pacific Gasoline Gensets Market size will witness substantial growth through 2027 on account of flourishing construction sector coupled with rising demand for consistent power supply. Rapid population growth along with increasing demand for reliable sustainable grid infrastructure will favor the industry scenario. Furthermore, escalating intensity and frequency of weather-related calamities resulting in chronic power outages will fuel the market demand.
The 3.5 kVA - 5 kVA rated gensets will observe significant rise till 2027 owing to increasing population growth and rising urbanization rate primarily across the developing nations. The ability of these units to effectively serve the consumer’s power necessities, majorly across households and small commercial establishments, will drive the market growth. Growing demand for continuous power supply driven by inadequate electric grid infrastructure will augment the market landscape.
Three phase gasoline gensets industry is anticipated to grow exponentially from 2021 to 2027 due to broad applicability of these units across various industry applications including marine, commercial & industrial establishments. Consistent power supply, high flexibility, and considerable material proficiency are the key features which in turn lead to product deployment. Aging grid infrastructure in line with shifting customer awareness toward power backup solutions is set to favor the market dynamic.
The construction application segment is projected to dominate the Asia Pacific gasoline gensets market share during the forecast period impelled by flourishing real estate sector and robust expansion of commercial establishments. Sudden outspread of coronavirus resulted in rapid increase in construction of healthcare developments, which in turn will escalate the market demand. Increasing deployment of backup power solutions for recreational outdoor activities will further enhance the industry landscape. Moreover, shifting consumer focus toward low-power units suitable for residential operations in line with the unit’s economic viability and operational suitability will favor the business scenario.
Japan market for gasoline gensets will gain an appreciable momentum between 2021 and 2027 owing to intensifying weather-related disasters and surging demand for revamping the existing grid infrastructure. Robust expansion of commercial spaces coupled with ongoing proliferation of residential establishments will energize the industry dynamic. Growing demand for continuous power supply along with increasing significance of emergency preparedness solutions will further escalate the demand for these units.
Key manufacturers functioning across the industry are Atlas Copco Siemens, Westinghouse Electric Corporation, Cummins, Caterpillar, Yamaha, Generac, Wacker Neuson, Kirloskar Oil Engines Limited, Kohler, Stephill Generators, and Honda Motors.
Emission compliances, technological improvements and service cost competitiveness coupled with product design are the prime factors on which manufacturers are aiming to sustain their competitive market share. Key players are aiming toward building strategic alliances, joint ventures coupled with mergers and acquisitions by which they are embracing to strengthen their competitive advantage.