Press Release

Growing Electricity Consumption and Increasing Number of Data Centers in Thailand Boosts the Diesel Generator Market

The Thailand Diesel Generator Market is projected to grow at a CAGR of 4.56% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The flourishing commercial sector, the thriving data center industry, and the expansion of residential sectors are creating an intense electricity demand and, in turn, driving the diesel generator industry in Thailand. With extreme weather conditions, increased economic activities, and the high electricity consumption by cooling appliances, the country is experiencing a surge in electricity demand across industrial, household, & business sectors, i.e., straining the existing grid infrastructure and elevating the risk of potential blackouts or power failures, thereby pushing the adoption of diesel generators as reliable backup power supply.

Furthermore, Thailand's data center industry has witnessed remarkable growth in recent years due to the country's rapidly expanding digital economy and increasing reliance on cloud computing & online services. Additionally, the BOI promotion scheme that provides tax incentives & benefits to companies investing in data centers is attracting companies like STT GDC, TCC Technology Group, & CAT Telecom to invest significantly in the country, creating a substantial demand for diesel generators to provide power backup for the upcoming data centers in the country, further states the research report, "Thailand Diesel Generator Market Analysis, 2023."

Commercial Segment to Account for Major Share of the Diesel Generator Market

Based on End-Users, the diesel generator market in Thailand is bifurcated into residential, commercial (Hospitality, Retail, Educational Institutions, etc.), healthcare, government & transport, industrial (manufacturing facilities, assembly units, etc.), and equipment rental companies. Among all, the commercial sector is projected to acquire a majority market share during 2023-28, backed by the rising tourism industry and the growing number of retail spaces. According to the World Bank forecasts, Thailand's economy is poised to accelerate to approximately 3.9 percent in 2023, exceeding the 2.6 percent growth recorded last year. This thriving economic environment is driving consumers towards seeking convenience & high-quality products, pushing the country's retailers to expand, establish new outlets, and upgrade existing ones. As a result, there is a notable surge in demand for retail spaces in commercial areas, shopping malls, & high-traffic locations in the country, i.e., creating the demand for diesel generators to ensure uninterrupted power supply.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including (Caterpillar Thailand Ltd., Cummins DSKH Thailand Ltd., FG Wilson Asia Pte Ltd., Denyo United Machinery Pte Ltd., Yanmar Holdings Co., Ltd., Atlas Copco, Mitsubishi, Doosan Portable Power, Kohler Co., and Airman Asia Sdn. Bhd) are looking forward to strengthening their market position.

Key Questions Answered in the Research Report:

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?