Report Overview

Asia Pacific Generator Sales Market- Industry Trends & Forecast Report 2028

Asia Pacific generator sales market was worth USD 7.1 billion in 2021 and is further projected to reach USD 10.9 billion by the year 2028, growing at a CAGR of 6.4% during the forecast period (2022-2028). The market is flourishing at a high rate owing to the growing demand for uninterrupted power supply in the commercial and industrial sectors. Furthermore, the expanding manufacturing sector in the emerging economies of Asia-Pacific, such as China, Japan, and India, is significantly propelling the growth of the region’s generator sales market.

Generators- A Brief Overview

A generator is a device that converts mechanical energy into electrical power that can be used in an external circuit. These devices work on the principle of Faraday’s law of electromagnetic induction. Several mechanical energy sources are used in generators for converting energy, including water turbines, internal combustion engines, wind turbines, steam turbines, etc. The use of generators is not restricted to domestic purposes but is also prevalent in commercial and industrial applications. Furthermore, they are also used for powering automobiles, ships, trains, aircraft, etc.

Asia Pacific Generator Sales Market Forecast and Trends

Growth Drivers

Flourishing Manufacturing Sector

The APAC countries have already established themselves as manufacturing hubs with low-cost production and high-quality outputs. The countries are now investing in further expansion of their manufacturing sectors to stay ahead of the curve. With this expansion, the demand for industrial generators is projected to surge during the forecast period. There is always a need for a backup power supply in factories, warehouses, and other plants since power outages can result in huge losses to the manufacturers and can cause severe damage to equipment and data. Due to this, the generator sales are gaining significant traction, driving the overall market growth.

Launch of Wide Range of Advanced Generators

There is intense competition in the Asia-Pacific generator sales market, and end-users are heavily inclined to products that are fuel-efficient and offer high power output. Consequently, the companies constantly launch new ranges of generators to grab a larger share of the market. For instance, HIMOINSA, a leading Japanese manufacturer of diesel and gas generators, has recently released the HHW series, Seven soundproofed, open generator models with power output ranging between 20 and 100 kVA at 50Hz and between 30 and 120 kVA at 60Hz. Such launches provide lucrative growth opportunities to the Asia-Pacific generator sales market.

Restraints

Increasing Shift Towards Greener Power Technologies

End-users are becoming more conscious of pollution caused by fuel generators as well as power generators, which is prompting them to switch to greener power options. Diesel generators emit large amounts of carbon dioxide, nitrogen oxides, particulates, and other dangerous substances into the atmosphere. This also contributes significantly to noise pollution along with air pollution. Moreover, diesel is also a non-renewable energy source that is declining at a very fast pace. The market growth is being hampered by all of these factors.

Impact of COVID-19 on Asia Pacific Generator Sales Market

The COVID-19-induced pandemic has had a mixed impact on the Asia-Pacific generator sales market. The rising cases of COVID-19 infected patients resulted in nationwide lockdown in various Asian countries, followed by restrictions on commercial and industrial activities. The generator sales also declined sharply due to a temporary halt of operations by major end-users, including the construction, mining, manufacturing, and oil & gas industries. However, the demand for generators spiked in the healthcare facilities owing to the need for continuous power supply to run ventilators, oxygen concentrators, and other medical devices for COVID-19 patients.

Asia Pacific Generator Sales Market - By Fuel Type

Based on fuel type, the Asia Pacific generator sales market is segmented into gas and diesel. The diesel segment holds the largest market share due to its higher fuel efficiency compared to its counterpart. This fuel can offer higher electricity output per liter than other types of fuel. Furthermore, diesel is more economical than gas which makes the running cost of the generator per hour less than that of gas. These benefits act as a major contributing factor for its market growth.

Asia Pacific Generator Sales Market - By Power Rating

Based on power rating, the Asia Pacific generator sales market is grouped into below 100 kVA, 100–350 kVA, 350–1,000 kVA, 1,000–2,500 kVA, 2,500–5,000 kVA, and above 5,000 kVA segments. Among these, the below 100 kVA segment accounts for the largest market share. Most generators that are generally used at homes or for rental, events, and different industries fall under the power rating range of 20 kVA and 100 kVA, which drives the growth of the segment. However, the 350-1000 kVA power rating generator also holds a significant market share owing to its use at construction and mining sites.

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 due to the expanding generator production and increasing need for uninterrupted power supply due to the flourishing manufacturing sector in this country. Furthermore, the increasing power crisis in China is also prompting the country’s factory owners to switch to diesel generators, which is anticipated to drive the market growth during the forecast period.

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 Asia Pacific generator sales market is highly fragmented and consolidated due to the presence of multinational conglomerates as well as regional industry players. The company offers and launches a wide range of products with different power ratings to match the needs of various end-users. They are also significantly investing 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.

Recent Development

• In October 2021, Panasonic Corporation, a Japanese multinational conglomerate company, announced the launch of its pure hydrogen fuel cell generator, which generates power through chemical reactions with high purity hydrogen and oxygen in the air.

Scope of the Report

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

1. Utilities/Power Generation
2. Oil & Gas
3. Other Industrial

• Commercial

1. Healthcare
2. IT & Telecom
3. Others

• Residential

By Region

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Flourishing Manufacturing Sector
         2. Launch Of Wide Range Of Products
      2. Market Restraints
         1. Increasing Shift Towards Greener Power Technologies
      3. Market Challenges
         1. Stringent Government Regulations
      4. Market Opportunity
         1. Increasing Construction Activities
         2. Rapid Industrialization in Asia-Pacific
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Asia Pacific Generator Sales Market Overview
   1. Market Size & Forecast by Value, 2018-2028
   2. Market Size and Forecast, By Segment
      1. By Fuel Type
         1. Gas
         2. Diesel
      2. By Power Rating
         1. Below 100 KVA
         2. 100–350 KVA
         3. 350–1,000 KVA
         4. 1,000–2,500 KVA
         5. 2,500–5,000 KVA
         6. Above 5,000 KVA
      3. By Application
         1. Standby
         2. Prime & Continuous
         3. Peak Shaving
      4. By End-User
         1. Industrial
            1. Utilities/Power Generation
            2. Oil & Gas
            3. Other Industrial
         2. Commercial
            1. Healthcare
            2. IT & Telecom
            3. Others
         3. Residential
      5. By Region
         1. China
         2. India
         3. Japan
         4. Australia
         5. South Korea
         6. Rest of Asia-Pacific
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis (2021)
   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) *
   1. Cummins Inc.
   2. Doosan Corporation
   3. Mitsubishi Heavy Industries Ltd.
   4. Siemens AG
   5. Honda Siel Power Products Ltd
   6. Caterpillar Inc
   7. Kohler Co
   8. ABB Ltd
   9. Generac Power Systems
   10. Weichai Group
   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