Asia Pacific Commercial Gensets Market size is poised to observe a lucrative growth from 2021 to 2027 on account of increasing significance of emergency preparedness and power backup solutions. Ongoing construction activities owing to rising private and public investments toward infrastructure development will fuel the product deployment. Rising population growth coupled with ongoing urbanization will enhance the demand for continuous electricity supply. In addition, increasing urgency to facilitate continued business operations together with limited grid access across remote locations will foster the market demand.
330 kVA - 750 kVA rated commercial gensets segment will witness accelerated growth till 2027 due to its ability to reduce huge costs incurred during power interruptions and outages. High applicability of these gensets across commercial establishments including hotels, educational institutions, construction sites, telecom towers will propel the product deployment. Furthermore, expanding mobile towers to cater the requirements of rising population growth will boost the industry outlook.
The diesel commercial gensets segment is anticipated to grow rapidly through 2027 on account of their ability to provide scalable, flexible, and weather-independent operations. In addition, changing industry focus toward adoption of cleaner fuels, achieving reduced cost and energy efficiency driven by implementation of strict emission laws might hamper the disposition of these units. However, low up-front costs together with continuous electricity availability and are the key factors resulting in large-scale market expansion.
Expansion of retail sales, data and government centers has significantly escalated demand for a steady power supply across the region, thereby resulting in increased adoption of commercial gensets. Moreover, enhanced living standard, increasing disposable income coupled with flourishing medical tourism will positively impact the market landscape. Increasing electricity demand along with rising power outages across the developing regions has further propelled the industry scenario.
The impact of COVID – 19 across the Asia Pacific region has witnessed the delay in the product deployment. In addition, major manufacturing facilities observed a slum of over 15% across the production centers. However, capability of these units to act as an essential power supply source along with robust development of super specialty hospitals will positively sway the market scenario.
The standby power-based application is predicted to dominate the Asia Pacific commercial gensets market share by 2027 driven by broad applicability of these gensets to deliver power supply during electrical failures thereby avoiding massive economical & production losses. Rising product disposition across industries including of commercial infrastructure, complex, stadiums, shopping malls and large industries to increase and strengthen their financial & operational performances will fuel the market landscape.
India market for commercial gensets is projected to register a high CAGR during the forecast period owing to ongoing constructional activities driven by favorable government initiatives including development of smart cities. For instance, as per the Telecom Regulatory Authority of India (TRAI), the nation had 1,171.80 million telephone subscribers as of 31st October 2020. Moreover, rising funding from local and private authorities toward establishment of commercial spaces together with rising requirement for uninterrupted electricity to power machines and job site equipment will complement the industry landscape.
Rising R&D investments together with strategic technological collaborations by the organizations which are centered at providing product diversity via economies of scale and brand acknowledgement. Firms are aiming toward building strategic alliances, joint ventures coupled with M&A by which they are embracing to strengthen their competitive advantage.
Key manufacturer operating across the industry are Yamaha Corporation, Powermax, Honda Motor, Greaves Cotton Limited, Briggs & Stratton, Prakash Diesel, Kirloskar Oil Engine, Generac Holdings, Caterpillar, Sudhir Power, Kohler, Cummins, Siemens, Mahindra Powerol, JCB and amongst others.