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Strengthening oil & gas industry as well as growing tourism sector in the country would support the Azerbaijan diesel genset market during the forecast period - 6wresearch

01 July, 2019

The oil & gas industry in Azerbaijan is rising rapidly owing to several major projects in pipeline, such as modernization of Baku oil refinery, SOCAR GPC, and Karabakh oil fields. Moreover, rising investment, growing travel & tourism sector and government emphasis on the development of new luxury and budget hotels would further spur the market for diesel gensets in the hospitality domain in the country.

According to 6Wresearch, Azerbaijan diesel genset market size is projected to grow at a CAGR of 4.1% during 2019-2025. Rising investment in travel and tourism sector would lead to development of hospitality infrastructure, which would further benefit the growth of diesel gensets in the nation. Further, with several oil and gas sector projects being in pipeline, developing oil & gas sector and hospitality sector are predicted to be the key drivers behind the growth of Azerbaijan diesel genset market over the next six years.

According to Ravi Bhandari, Manager, Research and Consulting, 6Wresearch, "Diesel gensets in the 300.1-500 kVA range had the maximum revenue share in the overall diesel genset market of Azerbaijan owing to deployment of such gensets in the oil & gas sector, which generates a large part of revenue for the Azerbaijan government.”

"The industrial application of diesel gensets had the highest revenue share followed by commercial application in 2018. The revenue share for the industrial application of diesel gensets is further expected to rise due to growth in the oil and gas domain in the country." Ravi further added.

According to Hardik Malik, Research Associate, Research and Consulting, 6Wresearch, "The Eastern region of Azerbaijan accounted for majority of the revenue share in the overall market, by regions, due to the concentration of industrial and commercial activities in cities such as Baku, Sumqayit, and Lankaran."

Some of the prominent companies in the Azerbaijan diesel genset market include AKSA, Teksan, Caterpillar, Cummins, and Chinese brands.

"Azerbaijan Diesel Genset market (2019-2025)" report provides an in-depth analysis with 41 figures, covered in more than 80 pages. The report estimate and forecast the overall Azerbaijan 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.

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