Posted On: 2021-09-16
Commercial sector acquired the largest market revenue share in the Malaysia diesel genset market – 6Wresearch
Malaysia diesel genset market witnessed a slowdown in growth in 2019 due to oil-price instability, and a subsequent decline in 2020 owing to the outburst of coronavirus as the government imposed “movement control order” as a step for nation-wide lockdown which led to the closure of all construction operations and disrupted the demand & supply chain of diesel gensets. However, the market is expected to recover from 2021 onwards, due to the opening of international borders and the gradual restart of economic activities in the country. Further, the market is anticipated to witness moderate growth during the forecast period years on account of the country’s heavy reliance on diesel gensets for power backup solutions. Moreover, due to the increasing number of data centers in the country, positive manufacturing and mining sector outlook, rising on-going and upcoming residential and commercial projects, increasing focus of government towards the development of transportation and public infrastructure, among others, the demand for diesel gensets for prime-power and standby power, would increase in the coming years.
According to 6Wresearch, Malaysia Diesel Genset Market size is projected to grow at a CAGR of 5.8% during 2021-27. The market is in the later growth stage in industry life cycle due to rising foreign direct investment and increasing contribution of private sector players towards urban transformation. On the back of growing demand for diesel genset from the industries such as manufacturing, telecom, oil and gas and chemical sector. Additionally, steady, uninterrupted, and stable power supply requirement are the key driving forces triggering the demand for diesel genset in Malaysia.
According to Bhawna Singh, Research Analyst, 6Wresearch, “By Applications, commercial holds the majority of share in 2020 and the same trend is expected to prevail in the years to come owing to diesel genset’s wider application in retail, telecom, shopping malls, data centers and other segments. These sectors need a constant power supply and power backup solutions, thus the demand for diesel gensets would increase in this segment in the coming years”
According to Ananya Consul, Research Associate, 6Wresearch, “By kVA ratings, 5.1-75 kVA accounted for maximum revenue share for the year 2020 and the same trend is anticipated in the years to come on account of increasing demand for this type of genset in residential buildings, small commercial offices, retail stores, and hospitals. However, However, Above 1000 kVA segment is predicted to grow fastest in the forecast period on account of growing usage of these gensets in high-end industries and energy & utility sectors like data centers where power demand is in high megawatts.”
Some of the major companies in Malaysia diesel genset market include Caterpillar Inc., Cummins Inc., Yanmar Holdings Co. Ltd., Rolls-Royce Power Systems AG, Mitsubishi Heavy Industries Ltd., Atlas Copco AB., and Deutz AG.
“Malaysia diesel genset market (2021-2027)” report provides an in-depth analysis with 11 figures and 04 tables, covered in 70 pages. The report estimates and forecast the overall Malaysia diesel genset market by kVA Ratings and Applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics