Saudi Arabia?s diesel genset market is expected to grow at a CAGR of 13.55 per cent from 2015 to 2021, mainly propelled by the rise in construction activities in the country, stated a new report by 6Wresearch
Covering the market extensively, the Saudi Arabia Diesel Genset Market (2015-2021) provides in-depth analysis, estimates and forecast by revenue, types of diesel gensets, and end-user application such as telecommunications, construction, energy and utilities, metal and mining applications and others.
According to research conducted by RnRMarketResearch, Saudi Arabia?s construction industry is expected to grow at a CAGR of 10.98 per cent and construction companies are planning major projects in the country over the next few years. This growth in construction activity has spurred the demand for diesel gensets.
Between 2010 and 2014, Saudi Arabia?s diesel market recorded a ?healthy growth rate? and is expected to witness an upward trend in the years to come, said the 6Wresearch report.
Specifically, the energy and utilities sector is contributing to the demand for diesel gensets. Other sectors that thrive on gensets include retail, hospitality, power and various industries.
According to senior research analyst Avishrant Mani, during the forecast period, there are 85 mega projects worth billions that are being lined up and will mostly be completed by 2030. In addition, a rising number of tourists have resulted in the construction of new hotels and malls, which are heavily dependent on diesel gensets. Additionally, these provide back-up power in case of a power failure.
The analysts also pointed out that diesel gensets being taken on rent is one of the major trends being witnessed in the country ? real estate companies are deploying gensets on a rental basis at construction sites to reduce costs.
The report mentioned the major players in Saudi Arabia?s diesel genset market such as Saudi Diesel Equipment, Cummins, Caterpillar, Himoinsa Power, Atlas Copco and Kirloskar.
