Asia-Pacific Electric Generators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Electric Generators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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.

Key Highlights

• 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.

Key Market TrendsIndustrial 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.

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.

Competitive Landscape

The Asia-Pacific electric generators market is partially fragmented. Some of the key players are ABB Ltd, Siemens AG, Caterpillar Inc., Mitsubishi Heavy Industries Ltd., and Cummins Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.