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Asia Pacific Standby Generator Sets Market Trends

Report ID: GMI11324
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Standby Generator Sets Market Trends

The standby generator sets market is poised for significant growth owing to rapid industrialization and the booming commercial sector. The rising urbanization and population growth along with the increasing need for uninterrupted power supply will drive demand for these generators. Additionally, growing investments in residential infrastructure expansion and frequent power outages will further propel the business growth. Growing consumer awareness of power backup solutions along with the increasing demand for enhanced comfort and security will drive the industry landscape.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Asia Pacific standby generator sets industry was valued at USD 12.4 billion in 2023 and is anticipated to register a 7.1% CAGR between 2024 and 2032 augmented by the growing need for uninterrupted power supply.

The > 50 kVA - 150 kVA rated standby generator sets market will cross USD 6 billion by 2032, stimulated by the increasing demand for backup power solutions capable of supporting larger loads.

The China standby generator sets market is set to surpass USD 7.5 billion by 2032, thrusted by the rapid expansion of commercial complexes, office complexes, and production plants.

Caterpillar, Cummins, Inc., Eaton, Escorts Group, Generac Power Systems, Inc., and Gillette Generators, among others.