The Asia Pacific Generator Sales Market is Projected to Grow at a CAGR of 5.1% from 2020 to 2025
DUBLIN, June 22, 2020 /PRNewswire/ -- The "Asia Pacific Generator Sales Market by Fuel Type (Diesel, Gas), Power Rating (<_00kva_ _00-350kva_="_00-350kva_" _50-1000-2500kva_="_50-1000-2500kva_">5000kVA), Application (Standby, Continuous, Peak Shaving), End-User, Country - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific generator sales market size is projected to reach USD 8.8 billion by 2025 from an estimated USD 6.8 billion in 2020, at a CAGR of 5.1% during the forecast period. Increasing the requirement of hybrid generators, bi-fuel, and inverter generators are creating demand opportunities for the generator sales industry in the Asia Pacific region.
Also, increasing demand for uninterrupted & reliable power supply in several industries is driving the generator sales market in the Asia Pacific region. However, the growing adoption of energy storage technologies and renewable energy sources hinder the growth of generators in the Asia Pacific region.
The industrial segment accounted for the largest share in the Asia Pacific generator sales market in 2019. The adoption of power backup solutions during the peak demand period to reduce the demand-supply gap in remote areas drives the growth of the market in the industrial sector.
The industrial end-user segment includes utilities/power generation, oil & gas, and other industries. Other industries include mining, marine, chemical, military, and manufacturing industries. Industrial generators are developed to ensure that there is a continuous supply of power in the event of power failure from the grid system. Thus, such generators guarantee an efficient performance of the equipment during the non-availability of electric supply. Moreover, diesel generators are used widely in mining operations all over the world. They provide over 70% of all the power needed in mining operations by heavy-duty equipment, such as excavating machinery, drillers, conveyor belts, and cranes.
Developing countries, such as China, India, and Thailand, are witnessing rapid industrialization and have introduced favorable policies to support industrial growth, including adequate power supply. Such developments are expected to offer lucrative opportunities for the generator sales market in the Asia Pacific region in the near future.
Natural gas fuel is growing owing to the expansion of the gas distribution network in emerging economies. Also, natural gas is used widely as an efficient source to power both emergency and portable generators and regarded as one of the most affordable and effective fuels among non-renewable resources for power generation. Also, natural gas generators are cheaper and more environment-friendly compared to diesel generators. In comparison to oil and coal, the emissions of sulfur, nitrogen, and carbon dioxide (a greenhouse gas) are considerably lower in the case of gas gensets. Such features of gas gensets, along with the development of gas distribution networks, are expected to motivate the end-users to install gas generators, which would drive the growth of the gas generator sales market in the Asia Pacific.
Cambodia is developing into the fastest-growing end-market for energy, power, and technologies. Also, rapid economic growth and tariff reduction policy are driving the growth of the generator sales market in Cambodia. With a favorable tariff reduction policy, the country is also focusing on installing power plants for the reliable supply of electricity. However, Cambodia, on an average, records 22% of T&D losses each year due to lack of transmission network, an unreliable supply from a local grid. Thus, the utility companies use generators in remote areas during the peak demand period to reduce the demand-supply gap. Therefore, all these factors drive the demand for generator sales in the Asia Pacific region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Asia Pacific Generator Sales Market, by End User
6.1 Introduction
6.2 Industrial
6.3 Commercial
6.4 Residential
7 Asia Pacific Generator Sales Market, by Power Rating
7.1 Introduction
7.2 Below 100 Kva
7.3 100-350 Kva
7.4 350-1,000 Kva
7.5 1,000-2,500 Kva
7.6 2,500-5,000 Kva
7.7 Above 5,000 Kva
8 Asia Pacific Generator Sales Market, by Application
9 Asia Pacific Generator Sales Market, by Fuel Type
10 Asia Pacific Generator Sales Market, by Country
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.3 Industry Concentration, 2019
11.4 Competitive Scenario
12 Company Profiles
- ABB
- Atlas Copco
- Caterpillar
- CG Power and Industrial Solution
- Cummins
- Denyo
- GE
- Generac
- HUU Toan Corporation
- J.C. Bamford Excavators
- Kohler
- Mitsubishi Heavy Industries, Ltd.
- Rolls-Royce Holdings
- Siam Telemach
- Siemens
- Sterling & Wilson
- Wacker Neuson
- Wartsil
- Weichai Group
- Yanmar
For more information about this report visit https://www.researchandmarkets.com/r/kws6sm
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