The Asia-Pacific large generator market is expected to grow from US$ 2,605.68 million in 2022 to US$ 4,606.49 million by 2028. It is estimated to grow at a CAGR of 10.0% from 2022 to 2028.
Development of Smart Solutions for Generators in Asia-Pacific Large Generator Market
Nowadays, even the basic generators consist of a control panel that helps the operator to check the health status of the generator when it is running. Further to advance the control panel, intelligent features are incorporated in it to provide information regarding the output, the remaining fuel, and other features. Some smart generators also help check performance and status using an app on a mobile phone. Also, various big, standalone generators used at hospitals, hotels, industries, and other enterprises come with a remote monitoring solution. These generators provide a complete analysis of how much fuel the generator consumes under quarter, half, or full load. This fuel consumption rate will help customers calculate how much fuel they need for a specific time. Furthermore, some generators provide alerts on the phone when there is a need for any checking. This helps operators keep their generators’ health in check even when they are not around. Also, incorporating technologies such as IoT is rising in large generators to make them smarter. Thus, the development of such intelligent solutions for the large generator will further boost its demand in the market. Thus, with the rising adoption of new technologies to make generators’ operation and maintenance more efficient, the production of smart generators will increase, augmenting the growth of the large generator market during the forecast period.
Asia-Pacific Large Generator Market Overview
The large generator market in Asia Pacific is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. The growing manufacturing industry propels the demand for large generators across the region. The manufacturing sector in many economies in Asia Pacific has shown a significant rebound since September 2020, as COVID-19-related lockdown measures were eased in many nations as conditions were stabilized. Disruption such as shortage of raw materials, supply chain delays in the manufacturing industry can mean low-volume and poor-quality production. Any production line in a manufacturing facility must be operating as required at all times. When blackouts occur in manufacturing plants, they affect all processes, from raw material sourcing to product sales. Normal schedules are also interrupted, targets are not met, raw materials go bad, safety is compromised, and in some cases, a product’s quality is affected. This can lead to customer loss. To avoid this, large generators are widely used across the growing manufacturing sector in Asia Pacific.
Asia-Pacific Large Generator market Revenue and Forecast to 2028 (US$ Million)
Asia-Pacific Large Generator Market Segmentation
The Asia-Pacific large generator market is segmented on the basis of fuel type, industry, and country. On the basis of fuel type, the Asia-Pacific large generator market is segmented into diesel, natural gas, hydrogen, and dual. The diesel segment registered a larger market share in 2022.
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 registered a larger market share in 2022.
Based on country, the Asia-Pacific large generator market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. China dominated the market share in 2022.
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 are the leading companies operating in the Asia-Pacific large generator market.