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ASEAN Home Standby Gensets Market to Witness Significant Growth over 2020-2026
Published Date: 2020-12-17
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According to the Graphical Research new growth forecast report titled “ASEAN Home Standby Gensets Market Size By Product (Air Cooled, Liquid Cooled), By Power Rating (<10 kVA, 10 kVA - 50 kVA, 50 kVA – 100 kVA, >100 kVA), By Fuel (Gas, Diesel), By Phase (Single Phase, Three Phase), Industry Analysis Report, Country Outlook (Indonesia, Thailand, Philippines, Malaysia, Vietnam)”, to witness strong growth during 2020 – 2026
ASEAN Home Standby Gensets Market is anticipated to surge on account of rising uninterrupted power supply demand coupled with rapid urbanization growth. Increasing intensity & frequency of ongoing power disruptions due to deteriorating weather conditions, degrading resilience of T&D networks and grid inadequacy will sway the industry scenario. In addition, favorable regulatory norms and subsidies toward the installation of clean fuel operated generating sources to minimize carbon emissions will foster the business outlook.
Air-cooled associated ASEAN home standby gensets market is estimated to witness growth owing to enhanced operability followed by lower leakages with low product cost. Ability to cater moderate power requirements along with rising adoption of these units across the residential sector will complement the product penetration. In addition, ongoing investment toward research and development sector to enhance the product efficiency along with improved long duration work timeline will accelerate the technology demand.
Three phase home standby gensets market will witness a substantial growth owing to increasing investments toward development of advanced residential and commercial infrastructure requiring heavy power backup output. Rising demand for advanced residential facilities which includes advanced smart home systems, lighting as well as multiple HVAC solutions will positively stimulate the product demand. Ability to provide high flexibility, robust power supply, and appreciable material efficiency will further enhance the product adoption.
Diesel operated home standby gensets market will observe a substantial growth owing to rising backup power supply demand across the upcoming economies along with increasing power outages across the rural areas. Ability to provide efficient fuel consumption solution followed by longer product lifespan and longevity will thrust the product demand. For instance, 2019, Kirloskar Oil Engines introduced technologically advanced intelligent diesel generators, integrated with QR code-based service manual, boltless canopy design, and LED based power status indicator. Ongoing technological advancements followed by increasing R&D investments toward product development will further fuel the ASEAN home standby gensets market landscape.
Malaysia home standby gensets market is estimated to surge on account of ongoing government inclination toward gas fired generators along with rising power fluctuation across the country. Ongoing deployment of smart and digital based gensets across the residential sector will fuel the product demand. In addition, replacement of traditional generators with advanced systems to fulfill the ongoing emission requirements will fuel the business scenario.
Major players across the industry are focusing toward integration of smart and digital technologies to install energy efficient solutions across the power backup systems. Leading industry players operating across ASEAN home standby gensets market are Briggs & Stratton, Cummins, Himoinsa, Kirloskar Oil Engines Limited, Generac, Caterpillar, SDMO Industries, Atlas Copco, Siemens AG, Mahindra Powerol and amongst others.