NEW YORK , July 8, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the size of the Japan diesel generator set market was about $1,120 million in 2021, which will experience a growth rate of more than 5% over this decade, to reach an approximate value of $1,816 million by 2030. The growth of the market will be driven by the surge in the urban population and the high frequency of power cuts in most areas of Japan , majorly because of natural calamities.
Among Japan's 47 prefectures, only seven have fewer than 1 million people. As per the World Bank, Japan's urban population increased to about 92% in 2020. Therefore, its urban areas require a massive amount of electrical power for meeting the ends of the population. Hence, the rising demand for backup power is providing impetus to genset sales.
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Generators of ratings above 750 kVA have the highest demand in the Japan diesel generator set market, and their sales will grow at a rate of about 5% during 2021–2030. The demand for them mainly arises in the commercial and industrial sectors, which comprise a large share, of about 70%, of the electricity demand in Japan . Moreover, due to power cuts owing to Japan's geographical location and weather conditions, the need for these generators is high in the industrial sector.
The commercial sector generates the highest demand for generator sets in Japan , and this category will grow at a rate of around 6% in the coming years. Both the hotel and retail sectors are expanding in the country because of the domestic company divestitures. Furthermore, for delivering all sorts of products and services, roads and highways are being constructed, thus driving the Japan diesel generator set market growth.
In addition, despite being one of the most-developed nations in the world, there are frequent power outages in Japan . For example, in May 2021 , around 9,000 houses had a power cut in Ayase City because of a problem in power transmission.
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Key businesses in the Japan diesel generator set market focus on the innovation of the mechanism and power system of these systems, for meeting the specific requirements of different sectors. For example, Cummins Inc., in January 2022 , introduced the C550D5 and C500D6 series diesel gensets for prime and standby use, worldwide. This series will offer a higher power concentration as compared to 15- and 16-liter alternatives with an output of 42 kVA per liter.
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