Vietnam Diesel Genset Market (2024-2030) | Growth, Size, Value, Industry, Share, Trends, Analysis, Revenue, Segmentation, Outlook

Topics Covered in the Vietnam Diesel Genset Market

Vietnam Diesel Genset Market report thoroughly covers the market by KVA rating and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Diesel Genset Market Synopsis

Vietnam Diesel Genset Market is expected to grow in the forecast period on account of increasing disposable income coupled with rising demand for regular and reliable power supply. Increasing urbanization and infrastructure development are accelerating the Vietnam Diesel Generator Market Growth. The growing expansion of the industrial and construction sector coupled with increasing power blackouts triggers the potential growth of the market. The Vietnam diesel genset market growth is mainly driven by the lack of constant power supply and increasing demand for electricity in industrial, commercial, and residential sectors. The tight power supply situation has led to an increased demand for backup power, and this has been the primary reason for the market's growth.

According to 6Wresearch, the Vietnam Diesel Genset Market size is projected to grow at the CAGR of 5.88 % during the forecast period of 2024-2030. The primary driver of the Vietnam diesel genset market is the inadequate power supply infrastructure. Vietnam's energy consumption has increased significantly, resulting in a widening gap between energy demand and supply. This has prompted individuals, businesses, and industries to install backup power solutions, with diesel gensets being the most preferred. Additionally, a growing population, urbanization, and industrialization have also contributed to the demand for uninterrupted power supply. The rise in demand for diesel gensets in Vietnam can be attributed to various factors. The most significant factor is a lack of constant power supply in the country. The government has taken various steps to improve the situation, but power cuts are still a common occurrence in many parts of the country. Besides, there has been a rise in demand for electricity in the industrial and commercial sectors, leading to an increased demand for backup power. Moreover, the growth in the construction sector, especially in the housing sector, has led to a surge in demand for diesel gensets for continuous power supply. Despite the growth opportunities, the Vietnam diesel genset Industry faces several challenges. The high cost of fuel, coupled with stringent regulations on the exhaust gases emitted by diesel gensets, can pose significant challenges for market players. Additionally, the lack of awareness about the benefits of diesel gensets in rural areas is also a challenge. This necessitates market players to undertake awareness programs to educate potential customers and better penetrate the market. The key challenge is the high prices of diesel gensets. The cost of diesel gensets is higher than the other renewable energy solutions available in the market. Besides, strict regulations regarding emissions have been limiting the growth of the diesel genset market. Another challenge includes the lack of subsidies from the government, which inhibits the Vietnam Diesel Genset Market Growth.

Government policies and schemes introduced in the Vietnam Diesel Genset Market

The Vietnamese government has implemented initiatives aimed at addressing the challenges facing the diesel genset market. The government has partnered with multinational and local companies to develop and produce renewable energy products. The government also implements regulations aimed at limiting the impact of diesel genset usage on air pollution. The Vietnamese government aims to reduce the country's dependence on diesel generators and provide clean energy in the country.

Leading players in the Vietnam Diesel Genset Market

Vietnam holds strong local and international companies manufacturing diesel gensets. The leading competitors in the Vietnamese diesel genset market include Caterpillar, Cummins, Perkins Engines Company Limited, Powerica Limited, Generac Power Systems, and MTU Onsite Energy and these companies are playing a vital role in increase of Vietnam Diesel Genset Market Share. These companies have a significant market share, with a large-scale product portfolio designed to cater to different power requirements.

Market analysis by KVA Ratings

The 75.1 kVA - 375 kVA, is expected to maintain its dominance throughout the forecast period. The primary drivers of this growth are the growing demand for backup power in the commercial and industrial sectors and the increasing investments in urban and rural infrastructure development.

Market analysis By Applications

According to Ravi Bhandari, Research Head, 6Wresearch, the residential segment of Vietnam's diesel genset market is expected to grow due to the government's push for rural electrification and the increasing number of households that require backup power. Diesel gensets offer an affordable and reliable solution for households that experience frequent blackouts, especially in rural areas.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Diesel Genset Market Outlook
• Market Size of Vietnam Diesel Genset Market, 2023
• Forecast of Vietnam Diesel Genset Market, 2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues & Volume for the Period 2020 - 2030
• Vietnam Diesel Genset Market Trend Evolution
• Vietnam Diesel Genset Market Drivers and Challenges
• Vietnam Diesel Genset Market Price Trends
• Vietnam Diesel Genset Market Porter's Five Forces
• Vietnam Diesel Genset Market Industry Life Cycle
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by KVA ratings for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and Volume by 5 - 75 KVA for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by 75.1 - 375 KVA for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by 375.1 - 750 KVA for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by 750.1 - 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Above 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Application for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Residential for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Commercial for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Industrial for the Period 2020-2030
• Historical Data and Forecast of Vietnam Diesel Genset Market Revenues and volume by Transportation and public Infrastructure for the Period 2020-2030
• Vietnam Diesel Genset Market Import Export Trade Statistics
• Market Opportunity Assessment by KVA ratings
• Market Opportunity Assessment by Application
• Vietnam Diesel Genset Market Top Companies Market Share
• Vietnam Diesel Genset Market Competitive Benchmarking by Technical and Operational Parameters
• Vietnam Diesel Genset Market Company Profiles
• Vietnam Diesel Genset Market Key Strategic Recommendation

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By kVA Rating

• 5 kVA - 75 kVA
• 75.1 kVA – 375 kVA
• 375.1 kVA - 750 kVA
• 750.1 KVA-1000 KVA
•  Above 1000 KVA

By Applications

• Residential
• Commercial
• Industrial
• Transportation & public Infrastructure

Vietnam Diesel Genset (Generator) Market: FAQs