PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1395021
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1395021
Asia Pacific Gasoline Gensets Market will witness 4.4% CAGR between 2023 and 2032, driven by government initiatives prioritizing sustainability and power accessibility. Heightened regulations aiming for eco-friendly solutions have spurred innovation and adoption in this market.
For instance, in February 2023, The Commission for Air Quality Management (CAQM) in NCR and neighboring areas issued several directives to the state governments of Delhi, Haryana, Uttar Pradesh, and Rajasthan. The directives stated that starting May 15, 2023, it is mandating the conversion of diesel generator (DG) sets up to 800KW in industrial and commercial sectors to operate on a dual fuel system-running on 70% gas and 30% diesel. CAQM expressed concerns over unregulated DG set usage, noting their significant contribution to air pollution, particularly outside banned periods under GRAP, impacting the region's air quality.
With a focus on clean energy and reliable power sources, the region embraces gasoline gensets as a pivotal solution. Government efforts align sustainability goals with economic growth, propelling the gasoline gensets market growth from Asia Pacific to meet evolving energy needs while fostering environmental stewardship and resilience in power infrastructure.
The overall Asia Pacific Gasoline Gensets Market is classified based on power ratings, end-use, and country.
2 kW-5kW segment will undergo significant development from 2023 to 2032. Fueled by diverse applications across residential, commercial, and small-scale industrial sectors, this market segment signifies reliability and portability. With an increasing need for backup power solutions in remote areas or during grid outages, the compact yet efficient 2kW-5kW gasoline gensets serve as essential power sources. This heightened demand underscores their pivotal role in ensuring consistent and accessible electricity, driving the gasoline gensets market share in the region.
Residential segment will register a noteworthy CAGR from 2023 to 2032. As urban and rural areas seek reliable backup power, gensets offer a lifeline during frequent power outages. Compact and efficient, these generators cater to diverse household requirements, ensuring uninterrupted electricity for essential appliances. With an emphasis on convenience and reliability, the residential sector fuels the escalating gasoline gensets market demand in the Asia Pacific region, reflecting their indispensable role in maintaining everyday comforts despite electrical disruptions.
India gasoline gensets industry will showcase a commendable CAGR from 2023 to 2032. Fueled by rapid urbanization and frequent power fluctuations, gensets serve as lifelines in residential, commercial, and industrial sectors. India's diverse landscape and varying power infrastructure create a vital need for reliable backup, driving the demand for gasoline gensets.
As businesses and households prioritize uninterrupted power, these generators play a pivotal role, reflecting their indispensability amidst India's evolving energy landscape, contributing significantly to the country's growing demand for reliable electricity solutions. Additionally, the rising number of companies following regulatory guidelines supports the market. For instance, in July 2023, Cummins India Limited, a prominent power solutions technology provider, unveiled its latest range of genset engines complying with the CPCBIV+ emission standards.