Asia Pacific Back Up Reciprocating Power Generating Engine Market
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Asia Pacific Back Up Reciprocating Power Generating Engine Market was valued at USD 6.1 billion in 2023 and is projected to register at a 4.5% CAGR between 2024 and 2032. Increasing investments toward power generation capacity expansion along with rapid urbanization will positively impact the industry landscape. For instance, China’ installed capacity observed a growth rate of 12% in 2022.
The increasing emphasis on renewable power generation, in alignment with more stringent environmental regulations aimed at reducing carbon emissions, is poised to drive the industry expansion. The incorporation of smart technologies including Internet of Things connectivity and advanced monitoring systems, along with the advancement of quieter engines to mitigate their impact on the surrounding environment will boost the business environment.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Back Up Reciprocating Power Generating Engine Market size in 2023: | USD 6.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.5 |
| 2023 Value Projection: | USD 9.2 Billion |
| Historical Data for: | 2019 to 2023 |
| No of Pages: | 120 |
| Tables, Charts & Figures: | 343 |
| Segments Covered: | Fuel Type, Application, Rated Power |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The emergence of the novel coronavirus resulted in substantial disruptions to global trade and the economy, resulting in a worldwide decrease in both consumption and production. This had a far-reaching impact on the market for prime power reciprocating engines due to labor shortages and disruptions in the supply chain. Nevertheless, governments across the globe have implemented initiatives aimed at restarting operations in key industries, manufacturing plants, and infrastructure projects, which, in turn, has spurred growth in the sector.
The increasing reliance on technology and the rising frequency of power outages are fueling the need for backup power solutions. The industry is experiencing a transition towards cleaner and more efficient power generation technologies, in line with the growing focus on environmental sustainability, will drive the reciprocating power generating engine market. The growing importance of emergency preparedness solutions across various sectors will be a crucial factor in driving business growth. Moreover, ongoing efforts to provide electricity to remote areas will be a powerful catalyst for increasing the demand for these systems.
Based on rated power, the 3.5 MW - 1 MW will witness 7.2% growth rate through 2032. Compact installation suitability is achieved through space-saving designs and advanced noise reduction techniques, while the engine incorporates notable innovations such as electronic fuel injection, variable valve timing, and optimized combustion systems. These enhancements aim to maximize fuel efficiency and lower operational expenses, ultimately driving the greater product adoption.
Based on fuel type, the diesel–fired reciprocating power generating engine market holds a share of over 75% in 2022. Stricter emissions regulations have led to the development and adoption of advanced emission control technologies, including selective catalytic reduction and diesel particulate filters. These technologies reduce harmful emissions, making diesel engines more compliant with environmental standards, fostering the reciprocating engine market.
Based on application, the CHP application is set to surpass USD 101 million by 2032. These systems have gained popularity owing to their energy efficiency and environmental benefits. They are used in various industries, including manufacturing, healthcare, and commercial buildings, to simultaneously produce electricity and useful heat, reducing overall energy consumption, accelerating the industry potential.
The key participants in the reciprocating power generating engine market employ various strategies to maintain and bolster their market position. These tactics are often shaped by factors like competitive pressures, technological advancements, changes in regulations, and shifting customer preferences. The major players operating across the market include:
Yamaha manufactures a range of engines, including both two-stroke and four-stroke engines for various applications, including motorcycles, ATVs, boats, and more. The position and orientation of the motor within the engine block can vary depending on the specific model and design. The motor usually consists of various components, including pistons, cylinders, crankshafts, and camshafts, which move in a reciprocating manner to generate power.
By Fuel Type
By Rated Power
By Application
The above information has been provided for the following countries:
Caterpillar Inc., Cummins Inc., Kohler Co., Mitsubishi Heavy Industries, Yanmar Co., Ltd., Doosan Engine, Yuchai International Imp & Exp, Yamaha motor, Volvo Penta, Kirloskar Oil Engines Ltd., Deutz AG, and General Electric among others.
China backup reciprocating power generating engine market was exceeded at USD 1.4 billion in 2022 and will continue to grow owing to the focus to reduce air pollution and combat climate change, leading to a push for cleaner and more efficient power generation technologies.
The diesel-fired reciprocating power generating engine market in Asia Pacific holds a share of over 75% in 2022. Stricter emissions regulations have led to the development and adoption of advanced emission control technologies, including selective catalytic reduction and diesel particulate filters.
The market valuation of back up reciprocating power generating engine in APAC was worth USD 6.1 billion in 2023 and is estimated to surpass USD 9.2 billion by 2032, favored by the increasing investments toward power generation capacity expansion.