Booming Construction Industry Along with Rising Tourism Sector Would Surge the Demand for Diesel Gensets in Georgia - 6Wresearch
The construction sector in Georgia is rising rapidly owing to several major construction projects, such as Twin Tower, Metro City 2 and several others in the pipeline. Additionally, the influx of huge investment would lead to the growth of construction activities in several sectors such as residential, industrial and the reconstruction of roads would further boost the demand for diesel gensets in the construction domain in the country over the coming years.
According to 6Wresearch, Georgia diesel genset market size is projected to grow at a CAGR of 3.2% during 2019-2025F. Increased investment in the travel and tourism sector for infrastructure development projects would eventually surge the demand for diesel gensets in Georgia. Additionally, the deficit of electricity in underdeveloped or remote areas of the country is continuously spurring the market for diesel gensets to meet the growing power requirement.
According to Ravi Bhandari, Manager, Research and Consulting, 6Wresearch, "The 300 kVA rating diesel genset holds the maximum revenue share in the overall diesel genset market of Georgia owing to deployment of such gensets in the infrastructural development projects in several verticals such as manufacturing, commercial, transportation, and real estate.
"The infrastructure application acquires the highest revenue share followed by industrial application. The industrial sector is benefitted by the geographical location of Georgia which connects Europe with Asia. Additionally, lower taxes and free industrial zones would further drive the segment to grow during the forecast period,” Ravi further added.
According to Prateek Gupta, Research Associate, Research and Consulting, 6Wresearch, "The Eastern region of Georgia has a higher demand for diesel gensets owing to the concentration of a larger number of construction projects in Tbilisi, the capital of Georgia."
Some of the prominent companies in the Georgia diesel genset market include AKSA, Teksan, Caterpillar, Cummins, and Chinese brands.
"Georgia Diesel Genset Market (2019-2025)" report provides an in-depth analysis with 41 figures and 3 tables, covered in more than 89 pages. The report estimates and forecast the overall Georgia diesel genset market by kVA rating, applications, and regions. The report also offer insights on market ranking by companies, company profiles, market drivers, restraints, and recommendations.
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