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Asia Pacific Generator Sets Market Size
Asia Pacific Generator Sets Market was valued at USD 21 billion in 2023 and is estimated to grow at a CAGR of 7.5% between 2024 and 2032. Increasing consumer inclination toward increased reliability and zero downtime will favor the business scenario. In addition, escalating demand for reliable electricity supply and high investments in T&D infrastructure will drive the demand for gensets.
Generator sets, commonly referred to as gensets, are mechanical systems consisting of an engine and an electric alternator combined into a single unit. These systems are designed to generate electricity by converting mechanical energy into electrical energy. The engine, typically powered by diesel, gasoline, natural gas, or propane, drives the generator to produce electricity. The alternator within the generator set converts the rotational energy from the engine into electrical energy through the principle of electromagnetic induction.
Asia Pacific Generator Sets Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Asia Pacific Generator Sets Market Size in 2023: | USD 21 Billion |
|---|
| Forecast Period: | 2024 - 2032 |
|---|
| Forecast Period 2024 - 2032 CAGR: | 7.5% |
|---|
| 2032 Value Projection: | USD 40.2 Billion |
|---|
| Historical Data for: | 2018 to 2023 |
|---|
| No. of Pages: | 280 |
|---|
| Tables, Charts & Figures: | 686 |
| Segments covered: | Power Rating, Fuel, End Use, Application & Country |
|---|
| Growth Drivers: | - Unreliable grid infrastructure coupled with rapid population growth
- Rapid industrialization & increasing infrastructural investments.
- Burgeoning expansion in the telecom sector
|
|---|
| Pitfalls & Challenges: | - High installation & maintenance costs
- Shifting trends toward renewable power generation
|
|---|
