APAC Diesel Generator Industry Overview
|CAGR:||> 5.37 %|
*Disclaimer: Major Players sorted in no particular order
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APAC Diesel Generator Market Analysis
The Asia-Pacific Diesel Generator Market is expected to grow at a CAGR of more than 5.37% over the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the long term, the targets of the governments of various countries to achieve significant improvement in the rural electrification rate, increase in power outages in the urban areas, and the more extended timeframe required to set up the transmission and distribution infrastructure are some of the driving factors for the diesel generator market.
- On the flip side, the increasing availability of natural gas and the rapidly expanding natural gas generator technology, increasing deployment of renewables as an alternative power source, and the maintenance challenges for diesel generators are the restraining factors for the market studied.
- The commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants shortly.
- China accounted for the largest market share in 2021, with most of the demand coming from across the nation and rising commercial office spaces and small-scale vendor markets.
APAC Diesel Generator Industry Segments
A diesel generator (also known as a diesel Genset) combines a diesel engine with an electric generator (often an alternator) to generate electrical energy.
The Asia-Pacific Diesel Generator Market report is segmented by capacity, end-user, and application. By capacity, the market is segmented into below 75 kVA, 75-350 kVA, and above 350 kVA. By end-user, the market is segmented into residential, commercial, and industrial. By application, the market is segmented by standby backup power, prime/continuous power, and peak shaving power. The report also covers the market size and forecasts for the Asia-Pacific Diesel Generator Market across the major region or countries. The report offers the market size and forecasts in revenue (USD billion) for all the above segments.
|Below 75 kVA|
|Above 350 kVA|
|Standby Backup Power|
|Peak Shaving Power|
|Rest of Asia-Pacific|
APAC Diesel Generator Market Trends
Industrial Sector to Dominate the Market
- In 2021, the industrial sector is estimated to account for the largest share of the diesel generator market. Industrial operations mainly depend on electricity generated from diesel generators during power outages (to avoid production risks) and in regions with limited grid access.
- The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for the largest share of energy consumption of any end-use sector. Therefore, the increasing demand for continuous and reliable power supply from these industries, especially from healthcare facilities, pharmaceutical industries, and manufacturing facilities, is expected to escalate the demand for diesel generators.
- Moreover, in 2021, the value added in the industry in Singapore grew by 13.4 percent from the previous year. In comparison, Myanmar recorded a decrease of approximately 21 percent from the previous year in value added in the industry in 2021. The growing industrial growth will, in turn, supports the growth of the diesel generator market.
- Also, China and India are expected to witness robust industrial growth in the coming years because of the sharp increase in manufacturing sectors, which is expected to drive the demand for diesel generators in the industrial sector.
- Moreover, in August 2022, Caterpillar announced that it had added new standby diesel gen-sets, namely three 60 Hz power nodes from 20 to 30 kW in the Asian market. These units are suited to a range of applications, including small healthcare, retail and commercial enterprises.
- Furthermore, government initiatives to expand the industrial sector, especially in China and India, are expected to propel the demand for diesel generators over the forecast period.
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China to Dominate the Market
- China is the leading diesel generator market in the Asia-Pacific region owing to increasing infrastructure projects, widening power demand-supply gap, expansion of manufacturing facilities across the nation, and rising commercial office spaces.
- The country benefits from the cost and effectiveness of diesel generators, with improved living standards increasing the demand for power back-up devices.
- Factors such as the expansion of existing manufacturing units across the country and the dedicated ‘Made in China’ initiative launched by the Chinese central government are expected to drive the diesel generator market in the country.
- In addition, the rapid growth in various end-use sectors, such as infrastructure, telecommunication, and information technology (IT) & IT-enabled services is expected to further spur the demand for diesel generators in China.
- China has inadequate gas pipeline network, which creates a major hurdle for most industries with gas requirement. Although the government is investing heavily to ramp up this capacity, this is expected to restrain the growth of the gas generator market, creating an opportunity for diesel generators.
- In 2021, the growth of real gross domestic product (GDP) in China amounted to approximately 8.1 percent. Due to pandemic the country witnessed declination of growth rate in the year 2020 to 2.24%. However, according to the International Monetary Forum the country is estimated tol witness around 4.63% of GDP by 2027. The growth in GDP will affects the goods and services within the country and supports the growth of industries, that requires diesel generators.
- Moreover, in March 2022, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of the Mitsubishi Heavy Industries (MHI) Group, launched a new MGS-R Series of diesel generator sets in Chinese market. The new series provides outputs ranging from 500 to 2,750 kVA for 50Hz, and 460 to 2,000 kVA for 60Hz for standby offerings.
- Owing to above points, China is expected to dominate the diesel generator market during the forecast period.
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APAC Diesel Generator Market Competitor Analysis
The Asia-Pacific Diesel Generator Market is fragmented. Some of the key players in this market (in particular order) include Cummins Inc, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd, and Yanmar Holdings co. Ltd, Caterpillar Inc., and Mahindra Powerol Ltd.
APAC Diesel Generator Market Top Players
Mitsubishi Heavy Industries Engine & Turbocharger
Yanmar Holdings co. Ltd
Mahindra Powerol Ltd.
*Disclaimer: Major Players sorted in no particular order
APAC Diesel Generator Market Recent Developments
- June 2022: Kirloskar Group, an Indian conglomerate, unveiled Kirloskar iGreen Version 2.0 for the power generation business. The gensets powered with the R550 series of engines offer compactness, fuel efficiency, and high-power quality.
APAC Diesel Generator Market Report - Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Below 75 kVA
5.1.2 75-350 kVA
5.1.3 Above 350 kVA
5.3.1 Standby Backup Power
5.3.2 Prime/Continuous Power
5.3.3 Peak Shaving Power
5.4.4 South Korea
5.4.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Cummins Inc
6.3.2 Mitsubishi Heavy Industries Engine & Turbocharger, Ltd
6.3.3 Yanmar Holdings co. Ltd
6.3.4 Caterpillar Inc
6.3.5 Mahindra Powerol Ltd
6.3.6 Generac Power Systems
6.3.7 Doosan Corporation
6.3.8 Honda Siel Power Products Ltd
6.3.9 Kohler Co
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Diesel Generator Market Research FAQs
What is the study period of this market?
The Asia-Pacific Diesel Generator Market market is studied from 2019 - 2027.
What is the growth rate of Asia-Pacific Diesel Generator Market?
The Asia-Pacific Diesel Generator Market is growing at a CAGR of >5.37% over the next 5 years.
Who are the key players in Asia-Pacific Diesel Generator Market?
Cummins Inc, Mitsubishi Heavy Industries Engine & Turbocharger, Yanmar Holdings co. Ltd, Caterpillar Inc, Mahindra Powerol Ltd. are the major companies operating in Asia-Pacific Diesel Generator Market.
Asia-Pacific Diesel Generator Industry Report
In-depth industry statistics and market share insights of the Asia-Pacific Diesel Generator Market sector for 2020, 2021, and 2022. The Asia-Pacific Diesel Generator Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Asia-Pacific Diesel Generator Market report PDF.