Thailand DG Set Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025

Description

Market Overview

The Thailand DG set market is projected to grow from USD 179.8 million in 2024 to USD 240.9 million by 2030, advancing at a CAGR of 4.9% during the forecast period. This growth is fueled by the rising demand for standalone and backup power solutions in commercial, industrial, and residential sectors. Factors such as unreliable grid connectivity in remote regions, infrastructure development, and increasing power needs in the tourism and hospitality sectors are driving the market.

Additionally, the growth of real estate projects, expansion of industrial facilities, and Thailand's focus on infrastructure investments further boost demand for diesel generators (DG sets) across the country.

Key Insights

Market Segmentation:

By power rating, the above 750 kVA category holds the largest share at 37% in 2024, owing to high power requirements in industrial sectors, including manufacturing and automotive production. These generators are crucial for uninterrupted power supply in large-scale operations.

The 76-375 kVA category is expected to grow at the fastest CAGR of 5.0%, driven by demand from hospitals, hotels, and mid-sized commercial establishments. The rapid growth of Thailand's tourism and hospitality sectors further fuels demand for gensets in this range.

By application, the commercial category dominates the market, with significant demand from retail spaces, office buildings, and hotels requiring reliable backup power. Increasing investments in infrastructure projects, particularly in urban centers, also contribute to the dominance of this segment.

The residential sector is witnessing notable growth, as real estate developments and urbanization lead to rising demand for backup power solutions in housing societies and residential complexes.

Trends and Drivers:

The development of tourism infrastructure, including hotels, resorts, and restaurants, is a major growth driver. With Thailand being a leading tourist destination, power backup solutions are critical to ensure uninterrupted services in hospitality facilities.

The increasing demand for reliable power on islands and remote areas, where grid connectivity is limited or inconsistent, is boosting the adoption of diesel generators. Small gensets are often used in off-grid locations for domestic and commercial purposes.

Technological advancements in DG sets, including higher power density and fuel-efficient engines, are improving performance and reliability. Manufacturers are innovating products with enhanced fuel systems and filtration to cater to the country's specific needs.

Challenges:

The growing adoption of renewable energy sources such as solar and wind power is hindering market growth. Thailand aims to achieve 30% renewable energy usage by 2036, which reduces reliance on diesel gensets for power supply.

Rising concerns about greenhouse gas emissions and stringent government policies to curb pollution are driving efforts to explore cleaner alternatives to diesel generators.

Regional Insights:

The demand for DG sets is prominent in regions with significant commercial activity, infrastructure development, and limited grid reliability. Areas with ongoing real estate growth and industrial expansion are key contributors to market growth.

Competitive Landscape:

The market is consolidated, with major players focusing on innovative technologies, strategic partnerships, and product launches to enhance their offerings. Companies are developing fuel-efficient gensets and collaborating to expand their reach in Thailand's growing power backup market.

Product Code: 12361

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Size Breakdown by Segment
- 1.4.1 Market Segmentation by Power Rating
- 1.4.2 Market Segmentation by Application
1.5 Market Data Reporting Unit
- 1.5.1 Volume
- 1.5.2 Value
1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
- 2.1.1 Paid
- 2.1.2 Unpaid
- 2.1.3 P&S Intelligence Database
2.2 Primary Research
- 2.2.1 Breakdown of Primary Research, by Industry Participant
- 2.2.2 Breakdown of Primary Research, by Designation
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Industry Outlook

4.1 Voice of Industry Experts/KOLS
4.2 Definition of Market Segments
- 4.2.1 By Power Rating
  - 4.2.1.4 Above 750 kVA
- 4.2.2 By Application
  - 4.2.2.1 Commercial
    - 4.2.2.1.1 Retail establishments
    - 4.2.2.1.2 Offices
    - 4.2.2.1.3 Telecom towers
    - 4.2.2.1.4 Hospitals
    - 4.2.2.1.5 Hotels
    - 4.2.2.1.6 Others
  - 4.2.2.2 Industrial
    - 4.2.2.2.1 Manufacturing
    - 4.2.2.2.2 Energy & power
    - 4.2.2.2.3 Others
  - 4.2.2.3 Residential
4.3 Market Dynamics
- 4.3.1 Trends
  - 4.3.1.1 Technological advancements in diesel gensets
- 4.3.2 Drivers
  - 4.3.2.1 Rising number of residential societies
  - 4.3.2.2 Development of Eastern Economic Corridor
- 4.3.3 Impact Analysis of Drivers on Market Forecast
- 4.3.4 Restraints
  - 4.3.4.1 Increasing penetration of renewable sources
- 4.3.5 Impact Analysis of Restraints on Market Forecast
4.4 Impact of COVID-19
4.5 Regulatory Analysis
4.6 Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Buyers
- 4.6.2 Bargaining Power of Suppliers
- 4.6.3 Intensity of Rivalry
- 4.6.4 Threat of New Entrants
- 4.6.5 Threat of Substitutes

Chapter 5. Thailand Market Size and Forecast

5.1 Overview
5.2 Market Volume, by Power Rating (2019-2030)
5.3 Market Revenue, by Power Rating (2019-2030)
5.4 Market Volume, by Application (2019-2030)
- 5.4.1 Commercial Market Volume, by User
- 5.4.2 Commercial Market Volume, by Power Rating
- 5.4.3 Industrial Market Volume, by User
- 5.4.4 Industrial Market Volume, by Power Rating
5.5 Market Revenue, by Application (2019-2030)
- 5.5.1 Commercial Market Revenue, by User
- 5.5.2 Commercial Market Revenue, by Power Rating
- 5.5.3 Industrial Market Revenue, by User
- 5.5.4 Industrial Market Revenue, by Power Rating

Chapter 6. Competitive Landscape

6.1 List of Market Players and Their Offerings
6.2 Market Share Analysis of Key Players
6.3 Recent Strategic Developments of Key Players

Chapter 7. Company Profiles

7.1 Cummins Inc.
- 7.1.1 Business Overview
- 7.1.2 Product and Service Offerings
- 7.1.3 Key Financial Summary
7.2 Atlas Copco AB
- 7.2.1 Business Overview
- 7.2.2 Product and Service Offerings
- 7.2.3 Key Financial Summary
7.3 Mitsubishi Heavy Industries Ltd.
- 7.3.1 Business Overview
- 7.3.2 Product and Service Offering
- 7.3.3 Key Financial Summary
7.4 Caterpillar Inc.
- 7.4.1 Business Overview
- 7.4.2 Product and Service Offerings
- 7.4.3 Key Financial Summary
7.5 Denyo Co. Ltd.
- 7.5.1 Business Overview
- 7.5.2 Product and Service Offerings
- 7.5.3 Key Financial Summary
7.6 Changzhou ITC Power Equipment Manufacturing Co. Ltd.
- 7.6.1 Business Overview
- 7.6.2 Product and Service Offerings
7.7 Yanmar Holdings Co. Ltd.
- 7.7.1 Business Overview
- 7.7.2 Product and Service Offerings
- 7.7.3 Key Financial Summary
7.8 Piller (Thailand) CO. LTD.
- 7.8.1 Business Overview
- 7.8.2 Product and Service Offerings
7.9 Thai Generator Sales & Services Co. Ltd.
- 7.9.1 Business Overview
- 7.9.2 Product and Service Offerings
7.10 YUCHAI (THAILAND) CO. LTD.
- 7.10.1 Business Overview
- 7.10.2 Product and Service Offerings

Chapter 8. Appendix

8.1 Abbreviations
8.2 Sources and References
8.3 Related Reports

Thailand DG Set Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2030)