February 27, 2020
According to a recent study titled ‘Asia Pacific Diesel Gensets Market Size By Application, Power Rating, Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020–2026’, available with Marketstudyreport.com, the Asia Pacific diesel gensets market is anticipated to witness rapid growth during the forecast period.
Increasing demand for reliable and continuous power supply, coupled with growing importance of the strategic positioning of gensets to counter unavoidable power deficits are driving the growth of Asia Pacific diesel gensets market. High efficiency, low initial cost, and ease of replacement are underlying benefits encouraging the adoption of diesel gensets.
Growing dependence on electrical energy, technical product advancements, and expansion of data centers and increasing digitization especially in South Asian countries are other factors supporting the market growth.
Based on the power rating, Asia Pacific diesel gensets market is segmented into <75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA. <75 kVA market segment is presumed to grow considerably during the forecast period, on account of frequent occurrences of natural disasters, increasing cases of power failure, and aging grid infrastructure. Growing consumer inclination towards less powerful units with a smaller footprint on account of their operational efficiency and economic viability is augmenting the demand for <75kVA gensets.
Elaborating on the application scope, Asia Pacific diesel gensets market is split into standby, peak shaving, and prime/continuous. Standby market segment is projected to witness modest growth over the forecast timeline. Inefficient power generation infrastructure in emerging nations along with frequent grid disruptions have increased the deployment of standby gensets. Replacement of mines, construction sites, and oil & gas fields to remote locations due to a lack of proper power infrastructure is further enhancing the product demand. In addition, expansion of distribution channels has increased the accessibility to backup units, thereby rendering a positive impact on the segment growth.
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Considering the regional outlook, Asia Pacific diesel gensets market is divided into China, Japan, South Korea, India, Australia, and Indonesia. China diesel gensets market is slated to grow momentously during the study period, owing to the escalating expenses of data center outage coupled with growing consumer awareness towards reliable backup power solutions. Increasing shift towards sustainable development in tandem with stringent regulatory norms will augment the regional business outlook in the years to come.
Prominent players of Asia Pacific diesel gensets market include Powerica, Caterpillar, C&S Electric, Kirloskar, Ashok Leyland, Ingersoll-Rand, Atlas Copco., Sterling Generators, Himoinsa, Honda, Yamaha, Generac, Escorts Group, Cummins, and Briggs & Stratton. These companies are focusing on product differentiation and new technology to expand their market reach.
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