Asia Pacific Commercial Gensets Market
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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 Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Commercial Gensets Market size in 2023: | USD 9.3 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.4 |
| 2023 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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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.
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.
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.
Some of major players profiled in the industry include:
Market, By Power Rating
Market, By Fuel
Market, By End Use
Market, By Application
The above information has been provided for the following regions and country:
Some of the key commercial genset industry players across APAC include Aggreko, ASHOK LEYLAND, Atlas Copco, Briggs & Stratton, Caterpillar, and Cummins
India commercial gensets market size will exceed USD 3.5 billion by 2032, owing to the expansion of electrification initiatives, coupled with the widespread deployment of generators to bolster the primary grid or synergize with renewable energy sources.
Asia Pacific commercial diesel gensets market size will witness over 6.5% growth rate from 2024 to 2032, led by the notable increase in demand for sturdy construction activities, especially in the building of hospitals and healthcare facilities.
Asia Pacific market for commercial gensets was reached USD 9.3 billion in 2023 and is estimated to grow at 7.4% CAGR up to 2032, due to increasingly stringent environmental regulations and the shift towards cleaner power sources.