Expansion of infrastructure, establishment of new industries, strong economic growth as well as changing business environment in the South-East Asian countries such as Indonesia, Philippines, Vietnam, etc. would foster the demand for diesel gensets over the next six years. In addition, increasing foreign investment for the development of commercial and public infrastructures in South-East Asia region would also contribute to the rise in sales of diesel gensets during 2018-24.
According to 6Wresearch, the South-East Asia Diesel Genset market revenues are projected to grow with a CAGR of 3.1% during 2018-24. The demand for power has increased tremendously in the South-East Asian countries in the past few years. Requirement for continuous power in manufacturing and commercial sectors would be the key driver for the growth of diesel genset market across various South-East Asian countries. Moreover, the development of agro-based industries in countries such as Indonesia, Vietnam and Malaysia would further accelerate the demand for diesel genset in the region.
According to Ravi Bhandari, Research Manager, 6Wresearch, "Amongst all the applications, the commercial application accounted for the major revenue share in the South-East Asia diesel genset market. Growing construction of office spaces and hotels would act as the key growth driver ins the diesel genset market."
"However, planned construction of new power plants and setting up of new renewable energy projects in South-East Asian countries are anticipated to restrict the demand for diesel gensets over the coming years,"Ravi further added.
According to Priya Sharma, Research Analyst, Research and Consulting, 6Wresearch, "Above 750 KVA rating diesel gensets are the major kVA ranges which would register highest market revenue share in the overall diesel genset market on account of surging demand from manufacturing, and power utility applications in several South-East Asian countries."
"Further, the anticipated growth in the commercial and retail sectors due to rising foreign investments in countries such as Singapore, Indonesia and Malaysia would correspondingly help medium range diesel gensets to grow significantly during the forecast period," Priya further said.
Some of the major companies in the South-East Asia Diesel Genset Market include - Caterpillar, Cummins, Denyo, Huutoan, Komatsu, Kohler, Mitsubishi, Yanmar, and MTU.
"South-East Asia Diesel Genset Market (2018-2024)" provides an in-depth analysis with 477 figures and 50 tables, covered in more than 470 pages. The report estimates and forecast the overall South-East Asia Diesel Genset Market by kVA rating, country and applications such as residential, commercial, industrial and others. The report also offer insights on the competitive landscape, company profiles, market drivers and restraints.