Market Size of Asia-Pacific Gas Generator Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.38 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Gas Generator Market Analysis
The Asia-Pacific gas generator market is expected to grow at a CAGR of more than 6.38% during the forecast period of 2020-2025. Factors, such as increasing awareness regarding natural gas as a clean and reliable fuel, increased concerns over diesel maintenance and refueling issues, decreasing natural gas fuel prices, and the general desire to be more environmentally responsible, have supplemented the demand for gas generators in the region. However, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a challenging factor to overcome for the gas generators market in the coming years.
- The industrial sector has accounted for the largest share of the revenue from the sale of gas generators in 2019, owing to the increasing demand for continuous and reliable power supply from the industrial sector.
- The commercial and industrial sectors of the 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 in the near future.
- China is expected to dominate the market during the forecast period for gas generators, with the falling cost of natural gas, the usage of natural gas across the residential sector is expected to increase.
