Vietnam Diesel Generator Set Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025

Description

List of Tables

The Vietnamese diesel generator set market is projected to grow from $123.2 million in 2024 to $165.8 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.2% during the forecast period.

This growth is driven by the country's rapid industrialization and urbanization, leading to increased power consumption and a heightened demand for reliable backup power solutions. The development of special economic zones (SEZs) and government infrastructure initiatives, such as metro trains, smart cities, and state and national roads, further contribute to the expanding market for diesel generator sets.

Key Insights

The industrial sector holds the largest share in the Vietnamese diesel generator set market, attributed to the country's growing manufacturing base. Vietnam's domestic manufacturing sector contributes significantly to its GDP, with major outputs in garments, textiles, and footwear, making it a key manufacturing hub in Asia.

The 5-75 kVA power rating category is expected to witness significant growth, especially for applications in the residential and commercial sectors. These generators are in high demand to provide continuous power supply during blackouts and ensure operational continuity.

Vietnam's inadequate grid infrastructure results in frequent power outages, disrupting operations in residential and commercial spaces. This has led to an increased reliance on diesel generator sets to maintain uninterrupted electricity supply.

Government initiatives aimed at housing development are expected to drive the demand for diesel generator sets. Efforts to increase housing space per person by 2025 and 2030, with a focus on smart and green homes, redevelopment of old apartment buildings, and urban expansion projects, are boosting market growth.

The commercial sector is also contributing significantly to the market, with rising demand for diesel generator sets in data centers, hospitals, retail outlets, and other establishments that require reliable power to avoid operational disruptions.

Infrastructure development projects such as metro systems and smart cities are further driving the demand for diesel generator sets, ensuring reliable power supply during both construction and operational phases.

Product Code: 12391

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 Definition of Market Segments
- 4.1.1 By Power Rating
  - 4.1.1.4 Above 750 kVA
- 4.1.2 By Application
  - 4.1.2.1 Commercial
    - 4.1.2.1.1 Retail establishments
    - 4.1.2.1.2 Offices
    - 4.1.2.1.3 Telecom towers
    - 4.1.2.1.4 Hospitals
    - 4.1.2.1.5 Hotels
    - 4.1.2.1.6 Others
  - 4.1.2.2 Industrial
    - 4.1.2.2.1 Manufacturing
    - 4.1.2.2.2 Energy & power
    - 4.1.2.2.3 Others
  - 4.1.2.3 Residential
4.2 Market Dynamics
- 4.2.1 Trends
  - 4.2.1.1 Privatization of power plants
- 4.2.2 Drivers
  - 4.2.2.1 Increasing sales of properties
  - 4.2.2.2 Growing manufacturing sector
- 4.2.3 Impact Analysis of Drivers on Market Forecast
- 4.2.4 Restraints
  - 4.2.4.1 Increasing penetration of renewable sources
- 4.2.5 Impact Analysis of Restraints on Market Forecast
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Intensity of Rivalry
- 4.4.4 Threat of New Entrants
- 4.4.5 Threat of Substitutes

Chapter 5. Vietnam 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 Huu Toan Group Co. Ltd.
- 7.8.1 Business Overview
- 7.8.2 Product and Service Offerings
7.9 Marubeni Heavy Equipment Co. Ltd.
- 7.9.1 Business Overview
- 7.9.2 Product and Service Offerings

Chapter 8. Appendix

8.1 Abbreviations
8.2 Sources and References
8.3 Related Reports