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Government Initiatives for Economic Diversification to Drive Saudi Arabia Diesel Genset Market During 2016-22– 6Wresearch

13 September, 2016

Saudi Arabia is the largest diesel genset market in GCC. Increasing construction activities, expansion of public infrastructures, government policies to support establishment of new industries and need to supply power in off-grid and remote areas are the key factors that have spurred the market for diesel gensets in Saudi Arabia.

According to 6Wresearch, Saudi Arabia Diesel Genset Market is projected to grow at a CAGR of 2.24% during 2016-22. Saudi Arabia’s construction industry witnessed sharp fall in 2015-16 with majority of infrastructure projects have been cancelled, delayed or put on hold. Significant reduction in government spending was registered due to low crude oil prices, which impacted infrastructure development activities resulting into decline in diesel genset market revenues. However, with the expected recovery of crude oil prices, the diesel genset market would rebound with increasing government expenditure on infrastructure development.

According to Rajat Kharbanda, Senior Consultant, 6Wresearch, “In Saudi Arabia, diesel gensets with medium ratings have captured major revenue share of market pie as these are used for wide range of applications such as hospitality, healthcare, public infrastructure, retail, etc.”

“On the other hand, small rating diesel gensets accounts for maximum volume share due to high demand from construction sector. However, this segment was significantly affected in 2015-16 due to collapse of construction industry”, Rajat concluded.

According to Ravi Bhandari, Research Analyst, Research and Consulting, 6Wresearch, “Rental segment comprised the largest revenue share, due to high demand for rental gensets from construction and industrial sectors. Remotely located petrochemical plants, refineries, oil & gas exploration sites, border posts and educational institutes represent huge potential for power rental market.

“Also, the government & transportation sector is anticipated to register robust growth during forecast period as a result government efforts for the development of public infrastructure in the areas road, rail, and air transportation.” Ravi further added.

Some of the major companies in Saudi Arabia diesel genset market include- Caterpillar, Cummins, Perkins, Kohler, Kirloskar, and FG Wilson.

“Saudi Arabia Diesel Genset Market (2016–2022)” provides in-depth analysis with 51 figures and 14 tables covered in more than 130 pages. The report estimates and forecast overall Saudi Arabia diesel genset market by revenues, volume, KVA rating of diesel gensets and verticals such as retail & logistics, rental, government & transportation, oil & gas and power utilities, commercial, hospitality, others and regions. The report also gives the insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.

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