MarkNtel Advisors recently released a research report focusing on the Thailand Diesel Generator Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.
Thailand Diesel Generator Market Insight and Analysis:
The Thailand Diesel Generator Market is estimated to grow at a CAGR of around 4.56% during the forecast period, i.e., 2023-28.
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Thailand Diesel Generator Industry Segmentation:
By KVA Rating
-Up to 75KVA- Market Size & Forecast 2018-2028, (Units Sold)
-75.1 KVA to 375 KVA- Market Size & Forecast 2018-2028, (Units Sold)
-375.1 to 750 KVA- Market Size & Forecast 2018-2028, (Units Sold)
-750.1 KVA to 1000 KVA- Market Size & Forecast 2018-2028, (Units Sold)
-Above 1000 KVA- Market Size & Forecast 2018-2028, (Units Sold)
By Type
-Stand By- Market Size & Forecast 2018-2028, (Units Sold)
-Prime & Continuous Power- Market Size & Forecast 2018-2028, (Units Sold)
-Peak Shaving- Market Size & Forecast 2018-2028, (Units Sold)
By End Users
-Residential- Market Size & Forecast 2018-2028, (Units Sold)
-Commercial (Hospitality, Retail, Educational Institutions, etc.) – Market Size & Forecast 2018-2028, (Units Sold)
-Healthcare- Market Size & Forecast 2018-2028, (Units Sold)
-Government & Transport- Market Size & Forecast 2018-2028, (Units Sold)
-Industrial (Manufacturing Facilities, Assembly Units, etc.) – Market Size & Forecast 2018-2028, (Units Sold)
-Equipment Rental Companies- Market Size & Forecast 2018-2028, (Units Sold)
Thailand Diesel Generator Market (2023-28): Segmentation Analysis
Thailand Diesel Generator Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:
Based on Type:
- Standby
- Prime & Continues Power
- Peak Shaving
Here, standby diesel generators hold a major market share, owing to the growing infrastructure projects, coupled with rising FDI investments across the country. As Thailand continues to attract foreign investments in its infrastructure developments, there is a growing need for dependable backup power in various projects & construction sites, driving the demand for standby diesel generators that offer a reliable & cost-effective solution for providing temporary power in such scenarios. According to the UNESCAP, Thailand recorded an average annual FDI inflow growth of around 45.5% from 2017 to 2021, which was higher than the Asia-Pacific’s 3.8% average annual FDI inflow growth.
- In 2023, Department of Business Development (DBD) announced 274 foreign investors were granted permission under the Foreign Business Act to set up in Thailand from January to May.
As a result of these growing FDI investments, the country is witnessing the increasing number of mega infrastructure projects associated with oil well control, electrical system design for trains, etc., creating the demand for standby diesel generators in various projects & construction sites in the country.
Based on End User:
- Residential
- Commercial (Hospitality, Retail, Educational Institutions, etc.)
- Healthcare
- Government & Transport
- Industrial (Manufacturing Facilities, Assembly Units, etc.)
- Equipment Rental Companies
Here, the commercial sector is projected to acquire the major market share in the coming years, owing to the rapidly growing number of retail spaces and the booming tourism industry. According to the World Bank Thailand’s economy is projected to accelerate to around 3.9 percent in 2023 from 2.6 percent last year, backed by stronger-than-expected economic growth, i.e., encouraging retailers in the country to expand their operations, open new stores, or upgrade existing ones in order to cater to ever-evolving consumer requirements. As a result, the country is witnessing various ongoing construction projects associated with commercial areas, shopping malls, & high-traffic locations, creating the demand for diesel generators to ensure uninterrupted power supply for construction activities.
- In 2022, Thailand’s Central Retail Corporation Pcl (CRC) announced it plans to invest baht USD3.03 billion over the next five years to expand its retail businesses in the country and other Southeast Asian Countries.
Thailand Diesel Generator Industry Recent Development:
- In 2023, Caterpillar Inc., announced the introduction of the Cat XQ330 mobile diesel generator set, a new power solution for standby and prime power applications that meets U.S. EPA Tier 4 Final emission standard.
Geographical overview:
-Midwest
-Northeast
-South
-West.
The Thailand Diesel Generator Market Trend:
Rising Prevalence for Digitally-Controlled Diesel Generators: Digital control systems in diesel generators, such as TPEM (Total Plant Energy Management) systems, control panels, & automatic remotes, are gaining traction among residential, commercial, & industrial customers. This is due to their ability to enable consumers to monitor, manage, & enhance generator operations, resulting in optimized performance and low maintenance costs. Along with this, customers can even monitor running hours, temperature, and coolant & fuel levels by incorporating digitally controlled diesel generators, leading to a better user experience. Prominent manufacturers like Cummins, Caterpillar, & MHI, are joining forces with IoT companies like Tomoni, Elevat, Gmmco, etc., for integrating advanced digital control systems into their diesel generators, allowing users to conveniently monitor & manage their diesel generators through mobile phones. This aspect is projected to accelerate the overall growth of the diesel generator market in Thailand over the coming years.
Top Leading key players of Thailand Diesel Generator Market
A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including –
-Caterpillar Thailand Ltd.
-Cummins DKSH Thailand Ltd
-FG Wilson Asia Pte Ltd.
-Denyo United Machinery Pte Ltd
-Yanmar Holdings Co., Ltd
-Atlas Copco
-Mitsubishi
-Doosan Portable Power
-Kohler Co.
-Airman Asia Sdn. Bhd.
The Thailand Diesel Generator Market report addresses the following concern:
- The Thailand Diesel Generator Market report explores the influence of key trends on market share within the primary segments.
- What are the leading market trends that propel the expansion of the Thailand Diesel Generator market?
- What are the projected CAGR, market size, and growth rate for the Thailand Diesel Generator Market in the upcoming years?
- What are the key players in the Thailand Diesel Generator market, and what strategies are they implementing?
- What factors, such as industry trends, drivers, and challenges, are contributing to the growth of the Thailand Diesel Generator market?
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