Growing public infrastructure, industrial, retail and hospitality sectors, and the need to supply power in remote areas are expected to drive Saudi Arabia's diesel genset market to grow at a CAGR of 13.55 per cent until 2021, a report said.
Energy and utilities is another contributing application in the Saudi diesel genset market, where these are required to provide auxiliary or back-up power, explained the report titled Saudi Arabia Diesel Genset Market (2015-2021) from 6Wresearch, a top market intelligence firm.
Saudi Arabia is an oil producing nation and almost 90 per cent of oil extracted is exported in the international market. Unavailability of grid power in remote locations has resulted into an increased demand for diesel gensets.
Avishrant Mani, senior research analyst, Research and Consulting, 6Wresearch, said: "During the forecast period, 85 mega projects each worth more than $1 billion are lined up, which are expected to be completed by 2030, and would spur the growth of genset in the coming years. Further, rising number of tourists have resulted into construction of new hotels and malls, which are depending heavily on diesel gensets. Additionally, these provide back-up power source in case of any power failure."
"Diesel genset on rent is one of the major trends that is witnessed in the country. Real estate companies deploy gensets on a rental basis at construction sites to reduce the burden of high purchasing cost," Mani added.
The major companies in Saudi Arabia's diesel genset market include Saudi Diesel Equipment, Cummins, Caterpillar, Himoinsa Power, Atlas Copco, and Kirloskar, the report said. - TradeArabia News Service
Media Source: Trade Arabia