ASEAN Generator Sets Market Growth to Escalate During 2020 – 2030

Published Date: 2020-08-19

Request a sample

According to the Graphical Research new growth forecast report titled “ASEAN Generator Sets Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), Industrial {Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Country Outlook (Indonesia, Malaysia, Thailand, Vietnam), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2030”, to Escalate During 2020 – 2030.

ASEAN Generator Sets Market value will witness a surge on account of the increasing weather-related calamities accompanied by elevated frequency of persistent blackouts. Increased consumer preference toward emergency preparedness and rising significance of power backup will complement the market growth.

Increased rate of recurrence of electrical outages driven by weather extremities in conjunction with large-scale adoption of these units as an emergency power backup will propel the product penetration. Amplified demand load due to surging population coupled with easy availability of fuel options will propel the installation of these units across majority of the residential establishments.

Burgeoning infrastructural expansion of commercial spaces including hotels, malls, airport and railways largely across the emerging economies driven by several national and international investment will enhance the 75-375 kVA gensets market share. The ability of these systems to provide uninterrupted electricity supply in the construction industry thereby facilitating smooth functioning of jobsite tools and heavy machinery will enhance the market growth.

Gas gensets market share will experience a substantial rise owing to shifting consumer focus toward eco-friendly energy and emergency power supply security. Furthermore, mandated implementation of regulatory norms aimed at restricting emissions along with robust expansion of LNG infrastructure due to increased adoption of mega O&G exploration projects will favor the industry expansion.

Amplified deployment of gensets owing to wider applicability across industrial, commercial and residential establishments is set to augment the market scenario. In addition, booming IT sector followed by vigorous digitalization has resulted in heightened critical electronic load demand, which will complement the industry outlook.

Standby gensets market is projected to grow on account of wider applicability across several industries including healthcare, manufacturing, mining and construction. These gensets acts as a primary source of power supply in case of a temporary or short-term power disruption. Rising severity of weather-related mishaps leading to blackouts along with end user awareness toward power backup solutions will boost the product acceptance.

Thailand generator sets market will witness a rise owing to inflated demand as a result of thriving tourism industry. The increased placement of these units across malls, hotels, supermarket amongst others in order to recompense for peak electricity demand along with their capability to provide low cost standby power option will augment the product demand.

The leading industry participants operating across the ASEAN Generator Sets Market include Cummins, Mitsubishi Heavy Industries, JCB, Yamaha Motor, Atlas Copco, Siemens, Caterpillar and Wärtsilä. Several industry players are forming mergers and acquisition with a focus on benefitting by economies of scale in order to sustain their competitive advantage.