At 10.0% CAGR, the Asia-Pacific Large Generator Market is projected to be worth US$ 4,606.49 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia-Pacific large generator market was valued at US$ 2,605.68 million in 2022 and is expected to reach US$ 4,606.49 million by 2028, registering an annual growth rate of 10.0% from 2022 to 2028.  Increasing requirement for hybrid, bi-fuel, or dual fuel generators and development of smart solutions for generators are the critical factors attributed to the Asia-Pacific large generator market expansion. 

To identify alternative energy sources to conventional fossil fuels, other fuel sources are used to provide power for the required business. Hybrid generators are internal combustion engines coupled with batteries offered by many OEMs. When the load is high, these hybrid generators directly power the engine; when the load is low, the battery powers the engine. They lessen the noise generated by generators and consume less fuel. They have several advantages over traditional generators and are predicted to gain ground on mobile generators, which are usually employed in mining, construction sites, and remote applications. By combining the benefits of gas and diesel generators, bi-fuel generators increase the dependability of standby power systems. They mostly run on gas, but in case of an emergency, they may run on diesel. While the engine runs in dual-fuel mode, natural gas is added to the intake system, lowering the amount of diesel used while preserving the base diesel engine's power density, torque, and transient responsiveness. The demand for dual fuel generators is increasing in Asia-Pacific large generator market; hence, few manufacturers are developing these types of generators. For instance, in September 2021, KOHLER Power Systems announced the launch of a 500 kW generator featuring a dual fuel option, including natural gas (primary) and liquid petroleum gas (LPG) (secondary). The system automatically enables the generator to switch from natural gas to LPG, and when LPG is low, it reverts to natural gas. Thus, for efficient power supply, the demand for hybrid, bi-fuel, and dual fuel generators is expected to grow in coming years, creating lucrative opportunity for the Asia-Pacific large generator market's growth.

On the contrary, growing adoption of renewable energy sources and energy storage technologies hurdles the growth of Asia-Pacific large generator market.    

On the basis of fuel type, the Asia-Pacific large generator market is segmented into diesel, natural gas, hydrogen, and dual. The diesel segment held 60.0% market share in 2022, amassing US$ 1,563.89 million. It is projected to garner US$ 2,706.13 million by 2028 to expand at 9.6% CAGR during 2022–2028.  

Based on industry, the Asia-Pacific large generator market is further segmented into oil & gas, IT & telecom, power & utility, and others. The IT & telecom segment held 42.2% market share in 2022, amassing US$ 1,100.60 million. It is projected to garner US$ 2,029.31 million by 2028 to expand at 10.7% CAGR during 2022–2028.  

Based on country, the Asia-Pacific large generator market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. Our regional analysis states that China captured 33.9% market share in 2022. It was assessed at US$ 884.58 million in 2022 and is likely to hit US$ 1,672.45 million by 2028, exhibiting a CAGR of 11.2% during the forecast period.    

Key players dominating the Asia-Pacific large generator market are ABB Ltd, Atlas Copco AB, Caterpillar Inc, Cummins Inc, INNIO Jenbacher GmbH & Co OG, Kohler Co, Mitsubishi Heavy Industries Ltd, Siemens AG, and Yanmar Holdings Co Ltd among others.  

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