Thailand DG Set Market Projection, Technological Innovation And Emerging Trends 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.
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.
Get More Insights: Thailand DG Set Market Revenue Estimation and Growth Forecast Report
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.