Dublin, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The "Thailand Diesel Genset Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The Thailand Diesel Genset Market has demonstrated a strong trajectory with its valuation reaching USD 164.62 million in 2023. Forecasts indicate a continued rise in market value expected to crest at USD 213.71 million by 2029, achieving a Compound Annual Growth Rate (CAGR) of 4.29% over the forecast period. The market's progressive expansion is attributed to Thailand's rapid infrastructural developments, broad industrial growth, and an increase in the demand for power across various sectors.
The diesel genset market in Thailand is primarily driven by substantial infrastructural developments, including transportation networks, and the burgeoning need for dependable power sources in commercial complexes and industrial facilities. These factors, coupled with government initiatives promoting economic advancement, lay the groundwork for substantial investment in diesel gensets. Additionally, hybrid genset solutions that combine diesel with renewable energies are carving a niche in the market, influenced by global sustainability movements.
Regional Market Insights: Central Thailand's Dominance
Central Thailand has emerged as a dominant force within the market, with Bangkok at its core. The region's dense industrial and commercial landscape necessitates robust power sources, making diesel gensets essential for maintaining continuity of power during outages. Furthermore, Central Thailand's swift urban development trajectory propels demand for gensets in both residential and commercial sectors.
Key Challenges: Environmental Regulations and Fuel Price Volatility
The market, however, faces notable challenges particularly in the form of stringent environmental regulations aimed at reducing emissions, leading to increased operational costs and the need for compliance from diesel genset manufacturers. In addition to environmental concerns, fluctuations in diesel fuel prices pose a challenge by affecting the affordability and predictability of genset operations.
Market Trends and Segmental Insights
The market also reflects a trend in rising demand for the 351-1000 kVA segment, driven by the need for medium to high-capacity power solutions capable of supporting large operations. This segment's prominence emphasizes the versatility and balance between power capacity and cost.
Key Market Players
The Thailand Diesel Genset Market is contoured by leading global entities recognized for their innovative solutions and product reliability. These market players play a pivotal role in shaping the landscape of the diesel genset market by responding to industry challenges with technological advancements and comprehensive power solutions. The Thailand Diesel Genset Market stands as a testimony to the country's economic dynamism and industrial fortitude. As the nation continues to drive forward with infrastructure and industrial advancements, the diesel genset market is positioned to play an integral role in powering Thailand's future.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $164.62 Million |
| Forecasted Market Value (USD) by 2029 | $213.71 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Thailand |
Companies Featured
- Caterpillar Inc.
- Cummins Inc.
- Rolls-Royce plc
- Generac Holdings Inc.
- Kohler Co.
- Mitsubishi Heavy Industries, Ltd.
- Perkins Engines Company Limited
- Yanmar Holdings Co., Ltd.
- Kirloskar Oil Engines Limited
- Wärtsilä Corporation
- Doosan Corporation
- Deere & Company
For more information about this report visit https://www.researchandmarkets.com/r/37pwn1
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