Market Size of Asia-Pacific Generator Sets Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Generator Sets Market Analysis
The Asia-Pacific generator sets market is expected to grow at a CAGR of more than 6.7% over the period of 2020-2025. 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. However, factors, such as high installation and operating costs and the consumer preference towards eco-friendly alternatives (solar, fuel cells, etc.) are restraining the market's growth.
- Below 75 kVA capacity generators are estimated to have the largest market share during the forecast period, supported by the increase in demand from telecom, retail, other commercial buildings, and residential sectors.
- 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 in the near future.
- China accounted for the largest share in the market in 2019, with majority of the demand coming from across the nation and rising commercial office spaces and small-scale vendors.
