Posted On: 2020-03-09
5-75kVA rating diesel genset would generate the highest revenues in the Saudi Arabia diesel genset market over the coming years- 6Wresearch
Saudi Arabia diesel genset market is expected to witness enormous growth owing to rising construction activities along with increasing demand for continuous and reliable source of power, which would boost the demand for diesel genset market in the country. Further, upcoming infrastructure projects such as Neom, the Red Sea Project, Amaala, GCC Railway Project, Waterfront Infrastructure Facilities Project - Phase II, Medina Metro Project and others would require widespread application of diesel genset across several applications, thereby propelling the growth of diesel genset market over the coming years in Saudi Arabia.
According to 6Wresearch, Saudi Arabia Diesel Genset Market is expected to grow at a CAGR of 2.8% during 2020-26. “The residential sector is expected to acquire major market share in terms of revenue in the diesel genset market over the coming years due to rising demand for households in the country along with upcoming projects in the residential sector such as Al Farida, al Mayar, Masharif, Diyar Al Salaam, Ascott Villas Poject. The fulfilment of these projects would require a continuous source of power supply and this would further propel the demand for diesel genset in Saudi Arabia.”
According to Akansha Chopra, Research Associate, Research and Consulting, 6Wresearch, “The Diesel genset market in Saudi Arabia would accelerate due to rising need to provide electricity in rural areas and to overcome huge demand supply gap. The growing demand for electricity would also create opportunities for the diesel genset companies to provide low cost power solution.”
“Rising instances of power shortages and power failures across various applications in Saudi Arabia would also add on to the demand for diesel genset market growth. Moreover, cities such as Makkah and Al Madinah are experiencing growth in number of new hotels, in order to attract tourism. Upcoming hotel facilities would require continuous power supply which leads to an increase in installation of diesel genset as they are the only reliable backup source in case of power outages further spurring the growth of diesel genset market in the country.” Akansha further added.
Some of the key players in Saudi Arabia diesel genset market include Caterpillar Inc., MTU, Kohler, FG Wilson, Cummins Inc., Himoinsa, Yanmar, Perkins Engines Ltd and others.
According to Gurbani Kaur, Senior Research Analyst, Research and Consulting, 6Wresearch, “Based on kVA ratings, the 5-75 kVA diesel genset acquired majority of the market share in terms of volume. Due to its compact size, easy installation and maintenance, ease of availability, low cost and noiseless operations, these genset are widely used across applications such as industrial, commercial and others. This trend would spur the growth of 5-75 kVA diesel genset market in Saudi Arabia over the coming years.
"Saudi Arabia Diesel Genset Market (2020-2026)” report provides an in-depth analysis with 38 figures covered in 90 pages. The report estimates and forecast the overall Saudi Arabia diesel genset market by kVA rating, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.