Asia Pacific Generator Sales Market, By Fuel Type (Gas, Diesel), By Power Rating (Below 100 kVA, 100–350 kVA, 350–1,000 kVA, 1,000–2,500 kVA, 2,500–5,000 kVA, Above 5,000 kVA), By Application (Standby, Prime & Continuous, Peak Shaving), By End-User (Indus
Description
Asia Pacific Generator Sales Market, By Fuel Type (Gas, Diesel), By Power Rating (Below 100 kVA, 100–350 kVA, 350–1,000 kVA, 1,000–2,500 kVA, 2,500–5,000 kVA, Above 5,000 kVA), By Application (Standby, Prime & Continuous, Peak Shaving), By End-User (Industrial, Commercial, Residential), By Region (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Asia-Pacific Generator Sales Market Set to Witness Promising Growth: Forecast to Grow at a CAGR of 6.4% during 2022-2028
The Asia-Pacific generator sales market is growing at a high CAGR because of the increasing demand for continuous power supply in commercial and industrial sectors of the region. Furthermore, the flourishing manufacturing and construction sectors in Asian countries are also propelling the market forward…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the Asia-Pacific generator sales market was worth USD 7.1 billion in 2021. According to the study, the market is estimated to grow at a CAGR of 6.4%, earning revenue of around USD 10.9 billion by the end of 2028. A growing demand for continuous power supply in commercial and industrial sectors, such as IT & telecom, healthcare, utilities & power generation, etc., can be attributed to the growth of the Asia-Pacific generator sales market. Furthermore, the development of the manufacturing and construction sectors in Asian countries, such as China, India, Japan, South Korea, etc., is another major factor driving the generator sales market. However, the growing trend toward greener energy sources has emerged as a major hindrance to market growth.
Asia-Pacific Generator Sales Market is Driven by Growing Construction Activities
The Asia-Pacific region has some of the fastest-growing economies in the world including India, China, Australia, Japan, South Korea, etc. These nations are significantly investing in construction activities to boost their infrastructural development. Generators are employed at construction sites to provide reliable and portable power which is used to provide motive power to various construction machinery such as hand drill, chain saw, air compressors, etc. These also act as an important source of electricity at construction sites. Due to these factors, the generator sales market is gaining significant traction in the Asia Pacific.
Rapid Industrialization is Propelling the Asia-Pacific Generator Sales Market Forward
Based on end-users, the Asia-Pacific generator sales market is grouped into industrial, commercial, and residential segments. Among these, the industrial segment accounted for the largest market share in 2021. The Asia-Pacific region is emerging as a manufacturing hub worldwide. In addition, the ongoing construction activities for infrastructural development are also increasing the demand for a continuous power supply, which is driving the growth of generator sales. On the other hand, the commercial segment is projected to register the highest CAGR during the forecast period since countries such as India and South Korea are significantly investing in their service sector.
Asia-Pacific Generator Sales Market - By Application
Based on applications, the Asia-Pacific generator sales market is grouped into standby, prime & continuous, and peak shaving segments. The standby power generators segment holds the largest market share. Generators of this type provide backup power in the event of a power outage. Additionally, there is a high demand for standby power generators in India due to the frequent power outages in different parts of the country caused by overloading. Furthermore, due to its widespread use on construction and mining sites, the prime and continuous segment also holds a substantial share of the market.
Asia-Pacific Generator Sales Market - Regional Insights
Geographically, the Asia-Pacific generator sales market is segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. China dominates the Asia-Pacific generator sales market. However, India is also emerging as a potential market for generator sales. India is among the fastest-growing economies in the world and is significantly investing in infrastructural development, which in turn is driving the growth of the country’s generator sales market. Moreover, due to frequent power cuts, the demand for generator sales is surging in the commercial and industrial facilities of the country to ensure the smooth flow of the operations.
Impact of COVID-19 on Asia-Pacific Generator Sales Market
The COVID-19 pandemic has negatively impacted the growth of the Asia-Pacific generator sales market. As the countries had to impose a lockdown to mitigate the virus spread, the operations of the major end-users of generators, including manufacturing, construction, mining, marine, etc., were halted. This resulted in a sharp decline in the sales of generators across the Asia-Pacific, incurring huge losses to the manufacturers. The generator manufacturers themselves had to temporarily pause their production activities in light of social distancing norms, which also created a huge demand and supply gap post the upliftment of lockdown.
Asia-Pacific Generator Sales Market - Competitive Landscape
The leading players in the Asia-Pacific generator sales market are Cummins Inc., Doosan Corporation, Mitsubishi Heavy Industries Ltd., Siemens AG, Honda Siel Power Products Ltd, Caterpillar Inc, Kohler Co., ABB Ltd., Generac Power Systems, Weichai Group, and other prominent players.
The market is highly fragmented and consolidated due to the presence of multinational conglomerates as well as regional industry players. The market participants offer and launch a wide range of generators with different power ratings to match the needs of various end-users. They also significantly invest in research and development activities to improve their offerings in the competitive market. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Asia-Pacific Generator Sales Market Set to Witness Promising Growth: Forecast to Grow at a CAGR of 6.4% during 2022-2028
The Asia-Pacific generator sales market is growing at a high CAGR because of the increasing demand for continuous power supply in commercial and industrial sectors of the region. Furthermore, the flourishing manufacturing and construction sectors in Asian countries are also propelling the market forward…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the Asia-Pacific generator sales market was worth USD 7.1 billion in 2021. According to the study, the market is estimated to grow at a CAGR of 6.4%, earning revenue of around USD 10.9 billion by the end of 2028. A growing demand for continuous power supply in commercial and industrial sectors, such as IT & telecom, healthcare, utilities & power generation, etc., can be attributed to the growth of the Asia-Pacific generator sales market. Furthermore, the development of the manufacturing and construction sectors in Asian countries, such as China, India, Japan, South Korea, etc., is another major factor driving the generator sales market. However, the growing trend toward greener energy sources has emerged as a major hindrance to market growth.
Asia-Pacific Generator Sales Market is Driven by Growing Construction Activities
The Asia-Pacific region has some of the fastest-growing economies in the world including India, China, Australia, Japan, South Korea, etc. These nations are significantly investing in construction activities to boost their infrastructural development. Generators are employed at construction sites to provide reliable and portable power which is used to provide motive power to various construction machinery such as hand drill, chain saw, air compressors, etc. These also act as an important source of electricity at construction sites. Due to these factors, the generator sales market is gaining significant traction in the Asia Pacific.
Rapid Industrialization is Propelling the Asia-Pacific Generator Sales Market Forward
Based on end-users, the Asia-Pacific generator sales market is grouped into industrial, commercial, and residential segments. Among these, the industrial segment accounted for the largest market share in 2021. The Asia-Pacific region is emerging as a manufacturing hub worldwide. In addition, the ongoing construction activities for infrastructural development are also increasing the demand for a continuous power supply, which is driving the growth of generator sales. On the other hand, the commercial segment is projected to register the highest CAGR during the forecast period since countries such as India and South Korea are significantly investing in their service sector.
Asia-Pacific Generator Sales Market - By Application
Based on applications, the Asia-Pacific generator sales market is grouped into standby, prime & continuous, and peak shaving segments. The standby power generators segment holds the largest market share. Generators of this type provide backup power in the event of a power outage. Additionally, there is a high demand for standby power generators in India due to the frequent power outages in different parts of the country caused by overloading. Furthermore, due to its widespread use on construction and mining sites, the prime and continuous segment also holds a substantial share of the market.
Asia-Pacific Generator Sales Market - Regional Insights
Geographically, the Asia-Pacific generator sales market is segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. China dominates the Asia-Pacific generator sales market. However, India is also emerging as a potential market for generator sales. India is among the fastest-growing economies in the world and is significantly investing in infrastructural development, which in turn is driving the growth of the country’s generator sales market. Moreover, due to frequent power cuts, the demand for generator sales is surging in the commercial and industrial facilities of the country to ensure the smooth flow of the operations.
Impact of COVID-19 on Asia-Pacific Generator Sales Market
The COVID-19 pandemic has negatively impacted the growth of the Asia-Pacific generator sales market. As the countries had to impose a lockdown to mitigate the virus spread, the operations of the major end-users of generators, including manufacturing, construction, mining, marine, etc., were halted. This resulted in a sharp decline in the sales of generators across the Asia-Pacific, incurring huge losses to the manufacturers. The generator manufacturers themselves had to temporarily pause their production activities in light of social distancing norms, which also created a huge demand and supply gap post the upliftment of lockdown.
Asia-Pacific Generator Sales Market - Competitive Landscape
The leading players in the Asia-Pacific generator sales market are Cummins Inc., Doosan Corporation, Mitsubishi Heavy Industries Ltd., Siemens AG, Honda Siel Power Products Ltd, Caterpillar Inc, Kohler Co., ABB Ltd., Generac Power Systems, Weichai Group, and other prominent players.
The market is highly fragmented and consolidated due to the presence of multinational conglomerates as well as regional industry players. The market participants offer and launch a wide range of generators with different power ratings to match the needs of various end-users. They also significantly invest in research and development activities to improve their offerings in the competitive market. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Table of Contents
118 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Key Market Segments
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.2. Methodology
- 2.3. Regional Split of Primary & Secondary Research
- 2.4. Secondary Research
- 2.5. Primary Research
- 2.5.1. Breakdown of Primary Research Respondents, By Region
- 2.5.2. Breakdown of Primary Research Respondents, By Industry Participants
- 2.6. Market Size Estimation
- 2.7. Assumptions for the Study
- 2.8. Market Breakdown & Data Triangulation
- 3. Executive Summary
- 4. Industry Insight and Growth Strategy
- 4.1. Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Market Drivers
- 4.2.1.1. Flourishing Manufacturing Sector
- 4.2.1.2. Launch Of Wide Range Of Products
- 4.2.2. Market Restraints
- 4.2.2.1. Increasing Shift Towards Greener Power Technologies
- 4.2.3. Market Challenges
- 4.2.3.1. Stringent Government Regulations
- 4.2.4. Market Opportunity
- 4.2.4.1. Increasing Construction Activities
- 4.2.4.2. Rapid Industrialization in Asia-Pacific
- 4.3. Recent Developments
- 4.4. Porter’s Five Forces Analysis
- 4.4.1. Bargaining Power of Buyers
- 4.4.2. Bargaining Power of Suppliers
- 4.4.3. Intensity of Rivalry
- 4.4.4. Threat of New Entrants
- 4.4.5. Threat of Substitutes
- 5. Asia Pacific Generator Sales Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.2. Market Size and Forecast, By Segment
- 5.2.1. By Fuel Type
- 5.2.1.1. Gas
- 5.2.1.2. Diesel
- 5.2.2. By Power Rating
- 5.2.2.1. Below 100 KVA
- 5.2.2.2. 100–350 KVA
- 5.2.2.3. 350–1,000 KVA
- 5.2.2.4. 1,000–2,500 KVA
- 5.2.2.5. 2,500–5,000 KVA
- 5.2.2.6. Above 5,000 KVA
- 5.2.3. By Application
- 5.2.3.1. Standby
- 5.2.3.2. Prime & Continuous
- 5.2.3.3. Peak Shaving
- 5.2.4. By End-User
- 5.2.4.1. Industrial
- 5.2.4.1.1. Utilities/Power Generation
- 5.2.4.1.2. Oil & Gas
- 5.2.4.1.3. Other Industrial
- 5.2.4.2. Commercial
- 5.2.4.2.1. Healthcare
- 5.2.4.2.2. IT & Telecom
- 5.2.4.2.3. Others
- 5.2.4.3. Residential
- 5.2.5. By Region
- 5.2.5.1. China
- 5.2.5.2. India
- 5.2.5.3. Japan
- 5.2.5.4. Australia
- 5.2.5.5. South Korea
- 5.2.5.6. Rest of Asia-Pacific
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. Market Share Analysis (2021)
- 6.3. Competitive Benchmarking by Operating Parameters
- 7. Impact of COVID-19 on Asia Pacific Generator Sales Market
- 8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- 8.1. Cummins Inc.
- 8.2. Doosan Corporation
- 8.3. Mitsubishi Heavy Industries Ltd.
- 8.4. Siemens AG
- 8.5. Honda Siel Power Products Ltd
- 8.6. Caterpillar Inc
- 8.7. Kohler Co
- 8.8. ABB Ltd
- 8.9. Generac Power Systems
- 8.10. Weichai Group
- 8.11. Other Prominent Players
- 9. Key Strategic Recommendations
- List of Figures
- Figure 1: Asia Pacific Generator Sales Market Segmentation
- Figure 2: Asia Pacific Generator Sales Market Value Chain Analysis,
- Figure 3: Company Market Share Analysis, 2021
- Figure 4: Asia Pacific Generator Sales Market Size, By Value (USD Million), 2018-2028
- Figure 5: Asia Pacific Generator Sales Market Share (%), By Fuel Type, By Value, 2018-2028
- Figure 6: Asia Pacific Generator Sales Market Share (%), By Power Rating, By Value, 2018-2028
- Figure 7: Asia Pacific Generator Sales Market Share (%), By Application, By Value, 2018-2028
- Figure 8: Asia Pacific Generator Sales Market Share (%), By End-Users, By Value, 2018-2028
- Figure 9: Asia Pacific Generator Sales Market Share (%), By Region, By Value, 2018-2028
- List of Tables
- Table 1: Asia Pacific Generator Sales Market Size, By Fuel Type, By Value, 2018-2028
- Table 2: Asia Pacific Generator Sales Market Size, By Power Rating, By Value, 2018-2028
- Table 3: Asia Pacific Generator Sales Market Size, By Application, By Value, 2018-2028
- Table 4: Asia Pacific Generator Sales Market Size, By End-Users, By Value (USD Million), 2018-2028
- Table 5: Asia Pacific Generator Sales Market Size, By Region, By Value (USD Million), 2018-2028
- Table 6: Cummins Inc. Financial Analysis
- Table 7: Cummins Inc. Business Overview
- Table 8: Doosan Corporation Financial Analysis
- Table 9: Doosan Corporation Business Overview
- Table 10: Mitsubishi Heavy Industries Ltd. Financial Analysis
- Table 11: Mitsubishi Heavy Industries Ltd. Business Overview
- Table 12: Siemens AG Financial Analysis
- Table 13: Siemens AG Business Overview
- Table 14: Honda Siel Power Products Ltd Financial Analysis
- Table 15: Honda Siel Power Products Ltd Business Overview
- Table 16: Caterpillar Inc Financial Analysis
- Table 17: Caterpillar Inc Business Overview
- Table 18: Kohler Co Financial Analysis
- Table 19: Kohler Co Business Overview
- Table 20: ABB Ltd Financial Analysis
- Table 21: ABB Ltd Business Overview
- Table 22: Generac Power Systems Financial Analysis
- Table 23: Generac Power Systems Business Overview
- Table 24: Weichai Group Financial Analysis
- Table 25: Weichai Group Business Overview
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