Posted On: 2018-12-04
Asia Pacific gas genset market contributed more than 45% volume share towards global gas genset market in 2017. Increasing usage of clean energy coupled with industrial growth in Asia Pacific region are the key factors propelling the growth of gas genset market in the region. China, Japan, and Australia are the major markets within the Asia Pacific gas genset market which captured key market volume in 2017.
According to 6Wresearch, Asia Pacific Gas Genset market is projected to grow at a CAGR of nearly 7.5% during 2018-24. Industrial and power & energy application segments remained major revenue contributors towards the Asia Pacific gas genset market. Further, 375.1 to 1,000 KVA gas gensets registered largest market revenue share in 2017, however, up to 100 KVA rating gas genset segment held majority of the market volume share owing to lower prices as compared to high rating gas gensets.
According to Anuj Mehrotra, Assistant Research Manager, Research and Consulting, 6Wresearch, "100.1 to 375 KVA gas gensets registered major application within infrastructure and real estate applications. In addition, above 1000 KVA gas gensets market growth is expected to be driven by deployment across power generation plants in countries such as China and India on account of phasing out of diesel and coal power sources and pollution concerns in the region."
"Moreover, technological advancements such as optimization of engine speed, integrated approaches to generator paralleling, and bi-fuel or combined diesel & gas fuel operations would also complement the growth of gas gensets market in power sector during the forecast period," Anuj concluded.
According to Suman Gautam, Research Analyst, Research and Consulting, 6Wresearch, "Gas genset market in China and Japan are anticipated to exhibit high growth as compared to other countries on account of rising demand across transportation infrastructure, data centers, manufacturing plants, and factories. For instance, Japan is going to host Olympics 2020 which is likely to drive the demand for gas gensets across upcoming and ongoing transportation, hospitality, and construction projects."
"In addition, growing use of ICT in manufacturing sector to increase trade and productivity is leading to establishment of new data centers and expansion of existing ones, which is likely to further assist in gas genset market growth over the coming years," Suman added.
"Asia Pacific Gas Genset Market (2018-2024)" provides in-depth analysis of the market dynamics." The report estimates and forecast the overall Asia Pacific Gas Genset market by KVA rating, applications, and countries. The report also offer insights on competitive landscape, companies benchmarking, company profiles, market drivers, and restraints.