DUBLIN–(BUSINESS WIRE)–The “Philippines Diesel Generator Set Market Report: By Power Rating, Application – Industry Analysis and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The 2021 value of the Philippines diesel genset market was estimated at $152.9 million, and it is expected to witness a 5.4% CAGR to reach $245.2 million by 2030
Currently, much of the revenue for genset manufacturers and suppliers in the country comes from the industrial sector, which is witnessing rapid advances. This is partly due to the government initiatives to develop special economic zones and attract foreign direct investments.
Further, among all commercial users, telecom towers are the most significant in terms of diesel genset adoption in the Philippines. With numerous firms transitioning their 3G networks to 4G and many more launching 5G services, telecom towers are being rapidly advanced and installed. Since gensets are essential for uninterrupted communication services, the demand for these systems continues to grow in telecom towers.
Based on power rating, 76-375-kilovolt-Ampere (kVA) variants are the most popular in the Philippines diesel genset market because they are suitable for small industries, restaurants, telecom towers, hotels, and commercial complexes.
With the swift urbanization in the country, the demand for all such facilities is surging, which is leading to a boom in the construction sector. Moreover, after the units start operations, genset would be essential considering the high frequency of power outages in the nation.
To leverage the growth opportunities, the leading companies are launching generators that not only offer more value to customers but also comply with international emission standards.
Key Findings of Philippines Diesel Genset Market Report
Market Dynamics
Trends
Drivers
Restraints
Impact of Covid-19
Porter’s Five Forces Analysis
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/8ebxsy
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