(MENAFN- Market Press) Development of Commercial Sector in the Country Would Drive the Demand for Diesel Gensets in Malaysia - 6Wresearch
Rising energy demand along with increasing commercial and industrial activities in the country under the Wawasan 2020 initiative would accelerate the demand for diesel gensets over the coming years. Additionally, growing number of data Centers, commercial offices and hotels are expected to further boost the market for diesel gensets in Malaysia during 2018-24.
According to 6Wresearch, Malaysia Diesel Genset market revenues are predicted to grow at a CAGR of 3.0% during 2018-24. Ongoing government initiatives such as Economic Transformation Program, the 11th Malaysia Plan and Wawasan 2020 would drive the infrastructure development in the country, thereby increasing the demand for diesel gensets over the coming years.
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According to Priya Sharma, Research Analyst, 6Wresearch, "The commercial application segment which includes offices, BFSI and data centers has occupied majority of market revenue share in the overall diesel genset market in 2017 and would continue to act as a key source of demand for diesel gensets for emergency source of power. The above 750 KVA segment held key revenue share in the overall diesel genset market on account of developing power and public infrastructure sector in the country."
According to Prithu Chawla, Research Associate, Research and Consulting, 6Wresearch, "The development of new industrial projects such as the Samalaju Industrial Steel Park, expansion of public and private infrastructure and new residential projects such as The Shore and Riveria city would fuel the market for diesel gensets in Malaysia during the forecast period. However, Government schemes such as Sarawak Alternatives Rural Electrification Plan and National Renewable Energy Policy and Action Plan may hinder the growth of diesel genset market over the coming years."
"The Peninsular Malaysia Region holds majority of the revenue share in the diesel genset market of Malaysia on account of higher number of upcoming infrastructural projects in comparison to the region of Sabah and Sarawak. Additionally, rising investors' confidence and a growing focus on the tourism sector in the country, under the Visit Malaysia 2020 Plan, would benefit the diesel genset market of Malaysia over the coming years,"Prithu further added.
Some of the key players in Malaysia diesel genset market includes- Caterpillar, Cummins, Deutz Asia-Pacific, FG Wilson Asia, Kohler Power Systems, Mitsubishi Heavy Industries Engine System and Yanmar.
"Malaysia Diesel Genset Market (2014-2024)" provides in-depth analysis with 51 figures and 18 tables covered in 118 pages. The report estimates and forecast the overall Malaysia diesel genset market by revenue, volume, KVA rating, verticals, regions and states. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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