The Asia-Pacific gas genset market is witnessing robust growth owing to rapid industrialization, urbanization, and infrastructural development in emerging economies. Governments' initiatives to curb pollution and promote clean energy solutions are driving the adoption of gas gensets in the region. The growing demand for reliable power supply, particularly in remote and off-grid areas, further fuels market expansion. Moreover, the availability of abundant natural gas resources in countries like China and India contributes to the market's growth trajectory. Key market players are focusing on product innovation and strategic collaborations to gain a competitive edge in the rapidly evolving Asia-Pacific market.
The Asia-Pacific Gas Genset market is expected to grow from USD 11.87 billion in 2024 to USD 16.8 billion by 2032, at a CAGR of 4.44% over the forecast period. The growth of the market is attributed to the increasing demand for reliable and efficient power supply from various industries, such as data centers, healthcare, and telecommunications.
Asia-Pacific Gas Gensets are used to generate electricity using natural gas or propane. They are more efficient and environmentally friendly than diesel gensets. Asia-Pacific Gas Gensets are also becoming more popular in developing countries, where the demand for reliable power supply is high.
Competitive Outlook
- Caterpillar
- Cummins
- Wartsila
- Siemens AG
- GE
- ABB
- Genrac Power Systems
- MTU Onsite Energy GmbH
- PARAMAC
- Himoinsa
- Sudhir Power
Market Scope
The Asia-Pacific Gas Genset market is expected to grow at ~4.44% CAGR during the forecast period.
Segmentation
The Asia-Pacific Gas Genset market has been segmented based on fuel, power rating, application, and end-user.
Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.
The Asia-Pacific Gas Genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and above 1000 KVA.
Based on application, the Asia-Pacific Gas Genset market is segmented into standby, peak shaving, and continuous. Standby segment led the Asia-Pacific Gas Genset market in 2017.
By end-user, it is segmented into residential, industrial, and commercial. Residential segment is estimated to register the highest growth rate in the Asia-Pacific Gas Genset market during the forecast period.
Regional Analysis
North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the Natural gas generators market share in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the Asia-Pacific Gas Genset market owing to rising natural gas production in Southeast Asian countries in the region.
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