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Thailand DG Set Market To Reach USD 236.9 Million in 2030

05-02-2023 02:23 PM CET | Energy & Environment

Press release from: P&S Intelligence

Thailand DG Set Market To Reach USD 236.9 Million in 2030

The total size of the Thailand DG set market was USD 158.3 million in 2021, and it will reach a value of USD 236.9 million in 2030, progressing at a rate of 4.6% in the years to come, as stated by a market research company, P&S Intelligence.

The commercial sector dominated the industry, with over 40% share, and it will grow at a rate of approximately 5% in the years to come, on the basis of application. Thailand's commercial industry has been presenting a positive growth since the last financial slowdown in 2015.

The increasing count of restaurants and shopping malls is powering its commercial industry. Moreover, tourism is a key factor making the commercial industry of the country prosperous. With the increasing count of restaurants, shopping malls, and hotels, the need for DG sets in these buildings is on the rise.

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Above-750-kVA variants dominated the Thailand DG set market, with a considerable share in the past, and this would grow at a substantial rate, of over 4%, in the years to come, on the basis of power rating.

This is mainly due to the high-power requirement in the industrial sector. Thailand is among the of the foremost manufacturers of high-tech products, particularly those associated with electronics and automobiles.

In addition, the nation's emphasis is on the production of more value-added goods, for the improvement of its economy, which compelling startups to increase their production facilities, therefore contributing to the need for gensets.

Fundings by real estate corporations and governments are increasing in the residential sector. The evolution of this sector is complemented by the corporate sector, as it is powering the requirement for urban and semi-urban housings, which, in line, drives the requirement for residential DG sets.

The government of the country is investing heavily and develop the infra in the recent past through public-private partnerships, and public investments. In the past ten years, the government invested nearly USD 116 billion for the infra development.

As per the PPI database of the World Bank, PPP investments in infra have amounted to USD 28 billion in the last two decades. A considerable part of the funding was for the residential sector.

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The industry will grow considerably in the years to come with the growing competition amongst the foremost DG set providers.

Furthermore, novel companies are more interested in cooperating with other market players, therefore intensifying the competition further. Furthermore, companies are strongly focused on product development and tech progressions to attain a leading position in the market.

The growing tourism industry in the country has powered the demand for DG sets in Thailand.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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