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Asia Pacific Standby Generator Sets Market Size
- Report ID: GMI11324
- Published Date: Sep 2024
- Report Format: PDF
Asia Pacific Standby Generator Sets Market Size
Asia Pacific standby generator sets market size in 2023 was valued at USD 12.4 billion and is set to grow at a rate of 7.1% between 2024 and 2032. The growing need for an uninterrupted power supply, driven by factors comprising of natural disasters, frequent electricity outages and the increasing reliance on technology is set to boost the product demand. For instance, in January 2024, Japan experienced a magnitude 7.5 earthquake near the northern coast of the Noto Peninsula on Honshu's western shore.
Standby generators are essential backup power systems that automatically supply electricity to homes, businesses, and critical facilities during power outages. These generators are permanently installed and connected directly to the building's electrical system ensuring a seamless transition when the main power source fails. These systems are powered by different fuels and are crucial in maintaining operations in facilities where continuous power is vital.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Standby Generator Sets Market Size in 2023: | USD 12.4 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 7.1% |
| 2024 – 2032 Value Projection: | USD 22.8 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 125 |
| Tables, Charts & Figures: | 8 |
| Segments covered: | Power Rating, Fuel, Application & Country |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Asia Pacific Standby Generator Sets Market Scope
