Posted On: 2021-05-10
375.1 kVA– 750 kVA diesel gensets acquired the largest revenue share in the diesel genset market of Egypt in recent years – 6Wresearch.
Egypt Diesel Genset market witnessed a modest decline during the period 2017-2020 owing to the global oil price crises and the subsequent global pandemic situation caused by the outbreak of coronavirus in 2020, which led to the closure of all construction operations and disrupted the demand and supply of diesel gensets due to the government imposed nation-wide lockdown. However, growing electricity demand supported by the country's economic diversification plans such as Egypt Vision 2030 and Egypt's long-term national development framework, Industry and Trade Development Strategy, ICT strategy 2030, and government's emphasis on infrastructure and construction as a key engine of urban growth and financial stability on account of IMF (International Monetary Fund) backed economic reform program, would positively influence the demand for diesel gensets in the country in the coming years.
According to 6Wresearch, the Egypt Diesel Genset Market size is projected to grow at a CAGR of 3.1% during 2021-2027F. The primary reason for the growth in the Egypt diesel genset industry can be attributed to the upcoming projects, including the Middle East region's largest private medical city, entertainment district. Moreover, the rising economic growth and per capita income of Egypt and rapid industrialization have resulted in the increasing demand for a continuous and reliable electricity source, which is expected to drive the diesel genset market in the coming years.
According to Navneet Aggarwal, Research Analyst, 6Wresearch, "In terms of kVA ratings, 375.1kVA – 750 kVA rating diesel genset has emerged as a major market revenue shareholder in Egypt diesel genset market in 2020 owing to the high-power requirements for wide-scale projects in the country. Moreover, increasing power outages due to aging power transmission networks and the primary deployment of 375.1kVA– 750 kVA as power backup systems in the industrial and logistics sector. This has led to the growing adoption of secondary power sources, hence, escalating the demand for 375.1 to 750 kVA rated diesel gensets over the coming years.
Moreover, on the back of the growing electricity demand supported by the country's economic diversification and heavy usage across various domains such as commercial, industrial, residential, transportation, among others, to provide a reliable and uninterrupted power supply, the demand for diesel gensets would increase in Egypt in the upcoming years." Navneet further added.
According to Bhawna Singh, Research Associate, 6Wresearch, "The industrial sector garnered the majority of the market revenue share during the year 2020, and the same trend is anticipated to persist over the coming years as a result of the widespread usage of gensets in factories and manufacturing plants. Further, diesel gensets are needed to provide a backup power supply in the event of a power failure and meet additional load/power requirements, owing to power generation and industrial processes' critical nature.
The rising number of government initiatives such as Egypt's Industry and Trade Development Strategy, Egypt Vision 2030 and ongoing industrial projects, such as the Industrial City in Atfih, Coal-Fired Power Plant –Hamrawein, El-Dabaa Nuclear Power Plant Coal-Fired Power Plant would further contribute to the growth of the deployment of diesel gensets in the industrial domain in Egypt in coming years.", Bhawna further added.
"Egypt Diesel Genset Market (2021-2027F)" report provides an in-depth analysis with 21 figures and 07 tables, covered in 88 pages. The report estimates and forecasts the Egypt diesel genset market by kVA ratings, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/ high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.