Posted On: 2017-04-07
Huge electricity demand supply gap, industrialization and commercialization of African countries such as Nigeria, Kenya and Tanzania would be the key growth drivers for diesel genset market in Africa. With growing demand for power in urban parts of Africa owing to increase in population coupled with increasing government investments in public infrastructure, diesel genset market in Africa would register a moderate growth during 2017-23.
According to 6Wresearch, Africa Diesel Genset market is projected to grow at a CAGR of 4.6% during 2017-23. Growth in the forecast period would be registered on account of increasing demand from residential, oil & gas, power utilities and manufacturing industries. However, slump in global oil prices and weakening of commodity prices on global level has affected the growth of market post 2014 till now.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "East African countries such as Kenya, Tanzania and Uganda are expected to show highest growth rates in the forecast period due to development in manufacturing and oil & gas sector. According to IMF, it is estimated that East African countries would grow at a rate 5% in forecast period.
"Residential and commercial are other key sectors that would boost the demand of diesel gensets in Africa owing to growth in residential and retail sectors in the continent," Ravi further added.
According to Akash Jain, Research Associate, Research and Consulting, 6Wresearch, "375.1- 750 KVA rating diesel gensets accounts for majority of revenue share in 2016 due to demand by construction and industrial sectors in countries such as South Africa, Egypt and Nigeria. Unreliable power supply and frequent power blackouts are the primary reasons for the demand of diesel gensets, which are not only used as standby power source but also prime source."
"Local assemblers captures key share in countries such as South Africa, Angola, Nigeria and Uganda due to advantages such as strong distribution network across Africa and lower prices as there are no or less import duties on parts of gensets, which are locally assembled" Akash Concluded.
Some of the major companies in Africa Diesel Genset market include- Caterpillar, Cummins, SDMO, MTU Onsite, Himoinsa and Perkins.
"Africa Diesel Gensets Market (2017-2023)" provides in-depth analysis with 188 figures covered in more than 300 pages. The report estimates and forecast overall Africa diesel genset market by revenues, volume, KVA rating and verticals such as industrial, power utilities, residential, commercial and retail & logistic and countries. The report also gives the insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.