Asia Pacific Power Generation Equipment Market Size, Share & Trends Analysis Report By Type (Turbine & Engines, Generators, and Others), By Application (Utility, Industrial, Commercial, and Residential), By Country and Growth Forecast, 2024 - 2031

PUBLISHED: April 5, 2024

PAGES: 105 Pages

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The Asia Pacific Power Generation Equipment Market would witness market growth of 5.1% CAGR during the forecast period (2024-2031).

The China market dominated the Asia Pacific Power Generation Equipment Market, by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $14,279.8 Million by 2031. The Japan market is registering a CAGR of 4.4% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 5.7% during (2024 - 2031).

CHP systems and cogeneration plants utilize this equipment to produce electricity and heat simultaneously for heating, cooling, and industrial processes. Waste heat recovery units, steam turbines, and absorption chillers capture and utilize waste heat from power generation processes for heating or cooling applications.

In addition, to facilitate energy storage and grid balancing, power-producing equipment is connected with energy storage devices, including flywheels, batteries, and pumped hydro storage. Energy storage solutions increase the flexibility, dependability, and efficiency of power-producing assets by storing extra energy during off-peak hours and releasing it during periods of high demand or grid disruptions.

With India's ambitious renewable energy targets, there will be a substantial demand for power generation equipment specifically designed for renewable energy sources such as solar, wind, hydro, and biomass. As per the Government of India, the nation is committed to attaining energy independence by 2047 and a Net Zero energy consumption status by 2070. To achieve this goal, India's energy transformation is based on increasing the usage of renewable energy in all economic sectors. Green hydrogen is regarded as a potentially viable substitute for facilitating this transition. Hydrogen can be employed for various purposes, including the long-term storage of renewable energy, industrial fossil fuel replacement, sustainable transportation, decentralized power generation, aviation, and marine transportation. The Union Cabinet sanctioned the National Green Hydrogen Mission on January 4, 2022. Hence, the expansion of the region's renewable energy sector is driving the market's growth.

Based on Type, the market is segmented into Turbine & Engines, Generators, and Others. Based on Application, the market is segmented into Utility, Industrial, Commercial, and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

Mitsubishi Heavy Industries Ltd.
Wartsila Corporation
ABB Ltd.
Siemens Energy AG
General Electric Company
Caterpillar, Inc.
Bharat Heavy Electricals Ltd.
Schneider Electric SE
Cummins, Inc.
Toshiba Energy Systems & Solutions Corporation (Toshiba Corporation)

Asia Pacific Power Generation Equipment Market Report Segmentation

By Type

Turbine & Engines
Generators
Others

By Application

Utility
Industrial
Commercial
Residential

By Country

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

Chapter 1.Market Scope & Methodology

1.1Market Definition
1.2Objectives
1.3Market Scope
1.4Segmentation
- 1.4.1Asia Pacific Power Generation Equipment Market, by Type
- 1.4.2Asia Pacific Power Generation Equipment Market, by Application
- 1.4.3Asia Pacific Power Generation Equipment Market, by Country
1.5Methodology for the research

Chapter 2.Market at a Glance

2.1Key Highlights

Chapter 3.Market Overview

3.1Introduction
- 3.1.1Overview
  - 3.1.1.1Market Composition and Scenario
3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges

Chapter 4.Competition Analysis - Global

4.1KBV Cardinal Matrix
4.2Recent Industry Wide Strategic Developments
- 4.2.1Partnerships, Collaborations and Agreements
- 4.2.2Product Launches and Product Expansions
- 4.2.3Acquisition and Mergers
- 4.2.4Geographical expansion
4.3Top Winning Strategies
- 4.3.1Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2Key Strategic Move: (Partnerships, Collaborations & Agreements: 2023, Nov - 2020, Mar) Leading Players
4.4Porter's Five Forces Analysis

Chapter 5.Asia Pacific Power Generation Equipment Market, by Type

5.1Asia Pacific Turbine & Engines Market, by Country
5.2Asia Pacific Generators Market, by Country
5.3Asia Pacific Others Market, by Country

Chapter 6.Asia Pacific Power Generation Equipment Market, by Application

6.1Asia Pacific Utility Market, by Country
6.2Asia Pacific Industrial Market, by Country
6.3Asia Pacific Commercial Market, by Country
6.4Asia Pacific Residential Market, by Country

Chapter 7.Asia Pacific Power Generation Equipment Market, by Country

7.1China Power Generation Equipment Market
- 7.1.1China Power Generation Equipment Market, by Type
- 7.1.2China Power Generation Equipment Market, by Application
7.2Japan Power Generation Equipment Market
- 7.2.1Japan Power Generation Equipment Market, by Type
- 7.2.2Japan Power Generation Equipment Market, by Application
7.3India Power Generation Equipment Market
- 7.3.1India Power Generation Equipment Market, by Type
- 7.3.2India Power Generation Equipment Market, by Application
7.4South Korea Power Generation Equipment Market
- 7.4.1South Korea Power Generation Equipment Market, by Type
- 7.4.2South Korea Power Generation Equipment Market, by Application
7.5Singapore Power Generation Equipment Market
- 7.5.1Singapore Power Generation Equipment Market, by Type
- 7.5.2Singapore Power Generation Equipment Market, by Application
7.6Malaysia Power Generation Equipment Market
- 7.6.1Malaysia Power Generation Equipment Market, by Type
- 7.6.2Malaysia Power Generation Equipment Market, by Application
7.7Rest of Asia Pacific Power Generation Equipment Market
- 7.7.1Rest of Asia Pacific Power Generation Equipment Market, by Type
- 7.7.2Rest of Asia Pacific Power Generation Equipment Market, by Application

Chapter 8.Company Profiles

8.1Mitsubishi Heavy Industries Ltd.
- 8.1.1Company Overview
- 8.1.2Financial Analysis
- 8.1.3Segmental Analysis
- 8.1.4Research & Development Expenses
- 8.1.5Recent strategies and developments:
  - 8.1.5.1Partnerships, Collaborations, and Agreements:
  - 8.1.5.2Acquisition and Mergers:
- 8.1.6SWOT Analysis
8.2Wartsila Corporation
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental Analysis and Regional Analysis
- 8.2.4Research & Development Expenses
- 8.2.5SWOT Analysis
8.3ABB Ltd.
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental and Regional Analysis
- 8.3.4Research & Development Expense
- 8.3.5Recent strategies and developments:
  - 8.3.5.1Acquisition and Mergers:
- 8.3.6SWOT Analysis
8.4Siemens Energy AG
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4Research & Development Expenses
- 8.4.5Recent strategies and developments:
  - 8.4.5.1Geographical Expansions:
- 8.4.6SWOT Analysis
8.5General Electric Company
- 8.5.1Company Overview
- 8.5.2Financial Analysis
- 8.5.3Segmental and Regional Analysis
- 8.5.4Research & Development Expense
- 8.5.5SWOT Analysis
8.6Caterpillar, Inc.
- 8.6.1Company Overview
- 8.6.2Financial Analysis
- 8.6.3Segmental and Regional Analysis
- 8.6.4Research & Development Expense
- 8.6.5Recent strategies and developments:
  - 8.6.5.1Product Launches and Product Expansions:
  - 8.6.5.2Acquisition and Mergers:
- 8.6.6SWOT Analysis
8.7Bharat Heavy Electricals Ltd.
- 8.7.1Company Overview
- 8.7.2Financial Analysis
- 8.7.3Segmental and Regional Analysis
- 8.7.4Research & Development Expenses
- 8.7.5SWOT Analysis
8.8Schneider Electric SE
- 8.8.1Company Overview
- 8.8.2Financial Analysis
- 8.8.3Segmental and Regional Analysis
- 8.8.4Research & Development Expense
- 8.8.5Recent strategies and developments:
  - 8.8.5.1Partnerships, Collaborations, and Agreements:
  - 8.8.5.2Product Launches and Product Expansions:
- 8.8.6SWOT Analysis
8.9Cummins, Inc.
- 8.9.1Company Overview
- 8.9.2Financial Analysis
- 8.9.3Regional & Segmental Analysis
- 8.9.4Research & Development Expenses
- 8.9.5Recent strategies and developments:
  - 8.9.5.1Partnerships, Collaborations, and Agreements:
  - 8.9.5.2Product Launches and Product Expansions:
  - 8.9.5.3Acquisition and Mergers:
- 8.9.6SWOT Analysis
8.10.Toshiba Energy Systems & Solutions Corporation (Toshiba Corporation)
- 8.10.1Company Overview
- 8.10.2Financial Analysis
- 8.10.3Segmental and Regional Analysis
- 8.10.4Research and Development Expense

LIST OF TABLES

TABLE 1Asia Pacific Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 2Asia Pacific Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 3Partnerships, Collaborations and Agreements- Power Generation Equipment Market
TABLE 4Product Launches And Product Expansions- Power Generation Equipment Market
TABLE 5Acquisition and Mergers- Power Generation Equipment Market
TABLE 6Geographical expansion - Power Generation Equipment Market
TABLE 7Asia Pacific Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 8Asia Pacific Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 9Asia Pacific Turbine & Engines Market, by Country, 2020 - 2023, USD Million
TABLE 10Asia Pacific Turbine & Engines Market, by Country, 2024 - 2031, USD Million
TABLE 11Asia Pacific Generators Market, by Country, 2020 - 2023, USD Million
TABLE 12Asia Pacific Generators Market, by Country, 2024 - 2031, USD Million
TABLE 13Asia Pacific Others Market, by Country, 2020 - 2023, USD Million
TABLE 14Asia Pacific Others Market, by Country, 2024 - 2031, USD Million
TABLE 15Asia Pacific Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 16Asia Pacific Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 17Asia Pacific Utility Market, by Country, 2020 - 2023, USD Million
TABLE 18Asia Pacific Utility Market, by Country, 2024 - 2031, USD Million
TABLE 19Asia Pacific Industrial Market, by Country, 2020 - 2023, USD Million
TABLE 20Asia Pacific Industrial Market, by Country, 2024 - 2031, USD Million
TABLE 21Asia Pacific Commercial Market, by Country, 2020 - 2023, USD Million
TABLE 22Asia Pacific Commercial Market, by Country, 2024 - 2031, USD Million
TABLE 23Asia Pacific Residential Market, by Country, 2020 - 2023, USD Million
TABLE 24Asia Pacific Residential Market, by Country, 2024 - 2031, USD Million
TABLE 25Asia Pacific Power Generation Equipment Market, by Country, 2020 - 2023, USD Million
TABLE 26Asia Pacific Power Generation Equipment Market, by Country, 2024 - 2031, USD Million
TABLE 27China Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 28China Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 29China Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 30China Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 31China Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 32China Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 33Japan Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 34Japan Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 35Japan Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 36Japan Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 37Japan Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 38Japan Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 39India Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 40India Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 41India Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 42India Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 43India Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 44India Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 45South Korea Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 46South Korea Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 47South Korea Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 48South Korea Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 49South Korea Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 50South Korea Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 51Singapore Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 52Singapore Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 53Singapore Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 54Singapore Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 55Singapore Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 56Singapore Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 57Malaysia Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 58Malaysia Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 59Malaysia Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 60Malaysia Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 61Malaysia Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 62Malaysia Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 63Rest of Asia Pacific Power Generation Equipment Market, 2020 - 2023, USD Million
TABLE 64Rest of Asia Pacific Power Generation Equipment Market, 2024 - 2031, USD Million
TABLE 65Rest of Asia Pacific Power Generation Equipment Market, by Type, 2020 - 2023, USD Million
TABLE 66Rest of Asia Pacific Power Generation Equipment Market, by Type, 2024 - 2031, USD Million
TABLE 67Rest of Asia Pacific Power Generation Equipment Market, by Application, 2020 - 2023, USD Million
TABLE 68Rest of Asia Pacific Power Generation Equipment Market, by Application, 2024 - 2031, USD Million
TABLE 69Key Information - Mitsubishi Heavy Industries Ltd.
TABLE 70Key Information - Wartsila Corporation
TABLE 71Key Information - ABB Ltd.
TABLE 72Key Information - Siemens Energy AG
TABLE 73Key Information - General Electric Company
TABLE 74key information - Caterpillar, Inc.
TABLE 75Key information - Bharat Heavy Electricals Ltd.
TABLE 76Key Information - Schneider Electric SE
TABLE 77Key information - Cummins, Inc.
TABLE 78Key Information - Toshiba Energy Systems & Solutions Corporation