Thailand DG Set Market Size

Thailand DG Set Market Future Prospects

The Thai DG set market size is USD 179.8 million in 2024, and it is expected to generate USD 240.9 million in 2030, progressing at a CAGR of 4.9% during 2025–2030. This is attributed to the increasing demand for standalone and backup power sources, primarily in offices, residential buildings, retail stores, hospitals, and hotels. Thailand is one of the major tourist destinations in the world. The Thai tourism industry has witnessed an average growth rate of 13% per annum since 2010, and it contributes a significant percentage to the country’s GDP.

The increasing number of tourists is creating opportunities for the growth of the hospitality sector in the country. The development of new hotels, resorts, and other related infrastructure would create the requirement for power backup solutions, such as DG sets, in the nation, once the units have been thrown open to people. Another major factor contributing to the growth of the market is the rising demand for power generation systems on islands with no or unreliable grid connectivity. For instance, according to an article published in Taipei Times, Phaluai Island has no central source of electricity, due to which people use small diesel-fueled generators in their homes.