Asia Pacific Electric Generators Market Size

APAC Electric Generators Market Analysis

The Asia-Pacific electric generators market is expected to grow approximately at a CAGR of over 5.5% during the forecast period. Factors such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply are driving the generator sets market in Asia-Pacific. Moreover, the growing energy demands from the burgeoning manufacturing industry are expected to provide greater market opportunities for electric generators. However, factors such as high installation and operating costs and the increasing consumer preference towards eco-friendly alternatives (solar, fuel cells, etc.) are restraining the market's growth.

• The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for the largest share of energy consumption of any end-use sector, accounting for more than 50% during the forecast period. Hence, the industrial sector is estimated to account for the largest share of the revenue from the sale of electric generators in 2019, owing to the increasing demand for continuous and reliable power supply from the industrial sector.
• The commercial and industrial sectors of emerging economies, the residential sector of developed economies in Asia-Pacific, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
• China is expected to be the largest market for electric generators in Asia-Pacific region, due to increasing infrastructure projects, increased demand for uninterrupted electricity, expansion of manufacturing facilities across the nation, and rising commercial office spaces.