Market Size of Asia-Pacific Diesel Generator Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 5.37 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific 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.
