January 07, 2021
According to the research report titled ‘Saudi Arabia Diesel Generator Market Analysis, 2020’, available with Market Study Report LLC, Saudi Arabia diesel generator market is predicted to expand at a CAGR of 5% during 2020-2025.
As per the report findings, rising demand from construction sector facilitated by recovery of crude oil prices is fueling the growth of Saudi Arabia diesel generator market. Further, favorable government initiatives to diversify the economy from oil sector is enhancing the business landscape. For instance, in 2018, the country allocated an annual budget of USD 260 for establishing new infrastructure, oil exploration activities, mining, construction, etc. Such developments are likely to act as lucrative prospects for firms offering diesel generators in the nation.
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Saudi Arabia diesel generator industry assessment provides critical data pertaining to the various growth driving factors, obstacles, and other expansion trends predominant in this business domain. It also evaluates the past records and the current market trends in order to determine the growth rate of this business sphere over the period of 2020-2025.
Proceeding further, the research report also highlights the several market segments, including power rating, type, end-user spectrum, and geographical fragmentation. The document also takes into consideration various industry participants, their relevant market share and growth strategies that have helped them gain a competitive edge in this business sphere.
Based on power rating, Saudi Arabia diesel generator market is categorized into above 1000 KVA, 750.1 KVA to 1000 KVA, 375.1 to 750 KVA, 75.1 KVA to 375 KVA, and 5 KVA to 75KVA. Among these, the report states that 5 KVA to 75 KVA segment accounted for considerable share of the overall market in 2019. The segment growth is creditable to new residential and commercial construction which are boosting the demand for diesel generators that mainly serve as power backup.
Speaking of end-user scope, the industry is bifurcated into residential, retail, oil & gas, govt. & transport, commercial & telecom, and others. Out of these, residential segment held majority of Saudi Arabia diesel generator market share in the year 2019 and is likely to gain considerable traction in the coming years. Air conditioners used in residential sector consume a high amount of electricity, and the country’s increasing average annual temperature further surges the demand for air conditioners, leading to an increased demand for diesel generators in these settings.
Considering the geographical landscape, Saudi Arabia diesel generator market is categorized into Central, South, West, and East segments.
The major companies impacting Saudi Arabia diesel generator market dynamics are Saudi Diesel Equipment Co., Ltd., Kirloskar Oil Engines Ltd., Kohler Power Systems, Inc., Atlas Copco Group, Himoinsa S.L., MTU Friedrichshafen GmbH, Perkins Engines Co., Ltd., FG Wilson, Cummins, Inc., and Caterpillar Inc.