Market Trends of Asia Pacific Electric Generators Industry
This section covers the major market trends shaping the APAC Electric Generators Market according to our research experts:
Industrial Sector to Dominate the Market
- In 2019, the industrial sector is estimated to account for the largest share in the electric generators market. Industrial operations are mainly dependent on electricity generated from generators during power outages (to avoid production risks) and in regions where grid access is limited.
- The industrial sector, which includes mining, manufacturing, agriculture, construction,
data centers and telecommunications 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 electric generators. - China and India are expected to witness robust industrial growth in the coming years on account of the sharp increase in manufacturing sectors, which is expected to drive the demand for electric generators in the industrial sector.
- The increasing power blackouts have significantly hampered the industrial sector in Indonesia, which has increased the adoption of electric generators in the country to ensure continuous and reliable power supply. South Sumatra and Jakarta are the key contributing areas for the growth of market in Indonesia owing to the frequent power blackouts in these areas.
- Furthermore, government initiatives to expand the industrial sector, especially in China and India, are expected to continue propelling the demand for electric generators over the forecast period.
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China to Drive the Electric Generators Market
- In China, 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 electric generators.
- 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 electric generators market in the country.
- As of 2018, steel production in China accounts for approximately 50% of the global steel production, which makes it a huge market for electric generators, as the steel industry is extremely energy-intensive and its operations are highly dependent on power generated from electric generators during power outages.
- Therefore, the economic growth in China is expected to drive the demand for electric generators, where power consumption is expected to grow with the increased use of electronic appliances in the commercial and residential sectors.
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