According to the research report titled ‘ASEAN Generator Sets Market Size By Power Rating, Fuel, End-Use, Application, Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2030’ available with Market Study Report, ASEAN generator sets market is anticipated to witness considerable expansion during 2020-2030.
 

Factors such as rising weather-related calamities, increasing occurrence of electrical outages, growing consumer awareness towards emergency preliminaries, and high accessibility towards various fuel types are augmenting the growth of ASEAN generator sets market.
 

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Additionally, escalating demand for emergency power backup solutions, growing population, and rising adoption of the product are positively swaying the overall market dynamics.
 

Based on power rating, the 75-375 kVA segment is expected to emerge as a major contributor to ASEAN generator sets industry growth throughout the analysis timeframe. Infrastructural expansion in the commercial sectors along with the ability of the product to provide uninterrupted power supply as well as efficient functioning of heavy machineries are propelling the growth of the segment.
 

With regards to fuel type, ASEAN generator sets industry from the gas segment is projected to expand considerably through 2030, owing to flourishing LNG (liquefied natural gas) vertical, strict regulations pertaining to emission control, increasing oil & gas exploration activities, and shifting consumer preference towards environment-friendly energy as well as emergency power supply security.
 

Moving on to application scope, the standby generator sets segment of ASEAN generator sets market is predicted to grow significantly over 2020-2030. Growing consumer awareness towards power backup solutions, frequent outages due to weather-related calamities, and rising adoption across numerous verticals such as construction, mining, manufacturing, and healthcare are fostering the expansion of the segment.
 

As per the country-level analysis of the report, Thailand generator sets industry is predicted to showcase significant growth over the forecast period. Surging electricity demand, rising product penetration in supermarkets, malls, and hotels, flourishing tourism industry, and high affordability are boosting the industry expansion in the country.
 

Leading players that define the ASEAN generator sets market trends are Yamaha Motor Company Limited, JCB India Limited, Wärtsilä Oyj Abp, Siemens AG, Cummins Inc., Mitsubishi Heavy Industries Ltd., Caterpillar Inc., and Atlas Copco Group.