Published: July 2022 | Report Code: 12109 | Available Format: PDF | Pages: 93
The Malaysian diesel generator set market size stood at around $82.6 million in 2021, and it will grow at a CAGR of 1.9% during 2021–2030, to reach $97.9 million by 2030. This is because the Government of Malaysia is focusing on increasing the infrastructural development, with plans to build 1 million housing structures, to cater to homebuyers who will be below the 40% income bracket by 2029. Moreover, the construction industry of the country is expanding. For instance, the industry grew by 14.6% in 2021 as compared to 2020.
In addition, the government declared further initiatives to support the construction sector, which include collaborations with financial organizations, as part of the 2021 Budget. The country assigned funds for the building of housing units for low-income homebuyers under the People’s Housing Program, as well as the Perumahan Penjawat Awam and Rumah Mesra Rakyat housing programs. With the increasing number of residential houses and commercial offices, the sales of diesel generator sets will increase in the country during the foreseeable future.
The above 750 kVA category held the largest market share in 2021, and it is projected to grow at a significant CAGR, of 1.7%, during 2021–2030, based on power rating. The demand for these generators primarily arises for applications in the industrial sector. During the last two decades, Malaysia has manufactured 40% of the world’s hard disk drives, and it continues to be one of the major exporters, which lead to the growth in the industrial sector of the country.
Additionally, the country’s focus is on the production of more value-added goods, for the enhancement of its economy, which impels startups to expand their production facilities, thus contributing to the increasing need for these generator sets.
In 2021, the commercial category held the largest market share, and it is predicted to increase at a CAGR of 2.0% during 2021–2030. Over the last decade, Malaysia has become a popular regional center for medical tourism, information and communications technology (ICT), and logistical services. Also, it is located at the center of Southeast Asia’s market.
Moreover, many multinational companies are establishing their offices in the country, as Malaysia offers a favorable business and consumer environment, an affinity for U.S. products, well-established infrastructure and legal framework, and the ability to make profits easily. These factors lead to the growth in the commercial sector, which, in turn, is boosting the demand for diesel generator sets in the country.
The demand for energy is continuously rising in Malaysia; until now, the supply is not meeting the requirement, resulting in frequent power outages in the country, which mainly occur due to natural calamities. Malaysia is highly prone to floods and tsunamis; for safety, the government shuts down power stations.
For instance, in December 2021, TNB temporarily shut down 333 power substations in six states. The closure affected 17,251 power consumers in Pahang, 5,062 in Selangor, 4,450 in Kuala Lumpur, 634 in Melaka, 470 in Kelantan, and 284 in Negeri Sembilan. However, electricity was provided through portable diesel generators at temporary evacuation centers that did not receive any power supply from substations. Thus, the perpetual power outage problem in the country is leading to the surging demand for diesel generator sets in the country.
Market Size in 2021
Revenue Forecast in 2030
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Segmentation Analysis of Countries; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
By Power Rating; By Application
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Major players operating in the Malaysian diesel generator set market have been involved in several strategic developments, such as product launches, to remain competitive. For instance, in September 2021, Cummins Inc. unveiled the NEW EC-AGS+ wireless control system for Onan diesel and gas DG sets. It allows users to control their generators utilizing a mobile app. The wireless control allows manual, automatic, and voice activation to start DG sets, offers maintenance reminders via Bluetooth, and enables climate monitoring.
The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.
Based on Power Rating
Based on Application
During 2021–2030, the growth rate of the Malaysian diesel generator set market will be around 1.9%.
In 2021, the size of the Malaysian diesel generator set market stood at $82.6 million.
Above 750 kVA is the largest power rating category in the Malaysian diesel generator set market.
The major Malaysian diesel generator set market drivers include the growing industrial sector and increasing construction industry.
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