The total size of the Vietnam diesel generator set market was approximately USD 109 million in the past, and it will power at a compound annual growth rate of 3.6% in the coming years, for reaching about USD 150 million by 2030, according to a report by PS intelligence.

In Southeast Asia, the country is quickly becoming one of the significant genset markets. The nation’s industry for diesel gensets will be powered by the construction of SEZs; government infra initiatives, including smart cities, metro trains, and state and national roads; and improved consumption of power.

Also, electricity is important for economic progress, but Vietnam does not have a proper grid infra, because of which there is an insufficient power supply hampering residential and commercial operations.
Thus, the requirement for generators is growing, for providing a continuous power supply throughout a blackout and ensuring continuous supply of electricity for numerous uses.

Due to the remarkable performance and development of the manufacturing industry, the economy of the country has continued to be robust. Actually, the domestic manufacturing sector accounted for over 25% of Vietnam's overall gross domestic product in the past.

With numerous, rail stations, airports, seaports, and direct highway networks connecting Vietnam, the nation's geographic position is an asset for luring investments in the manufacturing industry.

Browse detailed report - Vietnam Diesel Generator Set Market Analysis and Demand Forecast Report

With the growth of the manufacturing sector, the need for electricity is growing all over the country. As a result of this, the requirement for diesel generator sets is increasing all-over Vietnam, for meeting the power requirement throughout the time of power cut or where there is no obtainability of electricity from the grid.

It is because of the increased consumption of power in Vietnam, the demand for diesel generator set in Vietnam will also be on the rise in the future.