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Asia Pacific Commercial Gensets Market Size
Asia Pacific Commercial Gensets Market was valued at USD 9.3 billion in 2023 and is estimated to grow at a CAGR of over 7.4% between 2024 and 2032, owing to the increasingly stringent environmental regulations and a shift toward cleaner power sources.
A commercial genset is a piece of electrical equipment consisting of a generator, an engine, and additional components that work together to generate electrical power. These units have become increasingly prominent and strategically vital in addressing power shortages, especially when contrasted with other backup alternatives. Extensive adoption of these units in healthcare facilities and data centers will significantly influence the industry's potential.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 9.3 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 7.4% |
| 2032 Value Projection: | USD 17.6 Billion |
| Historical Data for: | 2019 - 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 450 |
| Segments covered: | Power Rating, Fuel, End Use, Application & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Asia Pacific Commercial Gensets Market Trends
Increasing dependency on uninterrupted power supply across wide multitude of applications along with growing trend toward hybrid systems will augment the generator sets market. Ongoing technological advancements aimed at improving efficiency, reducing emissions, and enhancing overall performance, will in turn will fuel the product penetration. Rapid industrialization along with surging urbanization rate and increasing infrastructural investments will fuel the industry potential.
Asia Pacific Commercial Gensets Market Analysis
The > 125 kVA - 200 kVA rated gensets market is set to surpass USD 2.5 billion by 2032. The ongoing expansion of mobile towers, aimed at satisfying the rising demands of an expanding customer base, will fuel the business growth. The product offers key advantages including scalability, flexibility, and capability to function irrespective of weather conditions, accelerating the industry potential.
The diesel gensets market size will witness growth rate of over 6.5% through 2032. The notable increase in demand for sturdy construction activities, especially in the building of hospitals and healthcare facilities will energize the business dynamics. Additionally, the expanded use of on-site generators in off-grid or remote areas to power advanced equipment will further boost the product adoption.
The India commercial gensets market is set to reach over USD 3.5 billion by 2032. The expansion of electrification initiatives, coupled with the widespread deployment of generators to bolster the primary grid or synergize with renewable energy sources, will enhance the prospects for this business. Additionally, stringent government regulations aimed at reducing carbon emissions, coupled with frequent and unpredictable power outages will augment the industry landscape.
Asia Pacific Commercial Gensets Market Share
Kirloskar Oil Engines Limited (KOEL) is a leading manufacturer of engines and power solutions based in India. KOEL offers a wide range of gensets catering to various power requirements and applications. Their product portfolio includes diesel gensets, gas gensets, and green gensets powered by alternative fuels like biodiesel, biogas, and natural gas.
Asia Pacific Commercial Gensets Market Companies
Some of major players profiled in the industry include:
- Aggreko
- ASHOK LEYLAND
- Atlas Copco
- Briggs & Stratton
- Caterpillar
- Cummins
- Deere & Company
- FG Wilson
- Generac Power Systems
- HIMOINSA
- Honda Motor Co.
- J C Bamford Excavators Ltd.
- Kirloskar Oil Engines Limited
- Kohler
- MAHINDRA POWEROL
- Mitsubishi Heavy Industries
- Rolls-Royce
- Sudhir Group
- Wartsila
- Yamaha Motor Co.
Asia Pacific Commercial Gensets Industry News
- In April 2022, Aggreko announced a partnership agreement with “We are Alberta”, a screen industry authority on environmental sustainability. With the support of “albert,” a subsidiary of BAFTA (British Academy of Film and Television Arts), Aggreko planned to deploy its latest technology within the stage 5 gensets by switching to HVO fuel. Furthermore, this partnership will empower Aggreko to accelerate its green energy strategies along with providing the advantage of albert’s policies and schemes for further projects.
- In March 2022, Mitsubishi Heavy Industries Engine & Turbocharger has unveiled the MGS-R Series of diesel generator sets, specifically designed to meet the increasing needs of the digital economy in Asian markets. With 21 models spanning across all power rating categories, this series provides a dependable power solution for various commercial applications.
This Asia Pacific commercial gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units” & “USD Million” from 2019 to 2032, for the following segments:
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Market, By Power Rating
- ≤ 50 kVA
- > 50 kVA - 125 kVA
- > 125 kVA - 200 kVA
- > 200 kVA - 330 kVA
- > 330 kVA - 750 kVA
- > 750 kVA
Market, By Fuel
- Diesel
- Gas
- Hybrid
Market, By End Use
- Telecom
- Healthcare
- Data Centers
- Educational Institutions
- Government Centers
- Hospitality
- Retail Sales
- Real Estate
- Commercial Complex
- Infrastructure
- Others
Market, By Application
- Standby
- Peak Shaving
- Prime/Continuous
The above information has been provided for the following regions and country:
- China
- Australia
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Philippines
- Myanmar
- Bangladesh
Frequently Asked Questions (FAQ) :