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 P&S 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.