Medium Diesel Genset {375.1kVA - 750kVA} segment is Expected to Dominate the Saudi Arabia Diesel Genset Market in the Forecast Period
The Saudi Vision 2030 and Increasing Investments in
Infrastructure Development are driving the market of Saudi Arabia Diesel Genset
market in the forecast period 2024-2028.
According to
TechSci Research report, “Saudi Arabia Diesel Genset Market - By Region, Competition, Forecast & Opportunities, 2028F”. Due to expanding public
infrastructures, an expanding industrial base, increasing retail and
hospitality industries, and the need to deliver electricity to remote areas,
the Saudi Arabia Diesel Genset market is predicted to have strong growth in the
forecast period. In addition, there are substantial infrastructure projects
underway throughout several countries. Building activities have also increased
in the Saudi Arabian area. The main commercial hub of the Gulf Cooperation
Council is Saudi Arabia (GCC). The last several years have seen several massive
building projects take place as a result of increasing foreign investments,
shifting government regulations, and changes. Saudi Arabia is among top country
in the building sector among the GCC nations.
Diesel Genset is generally
employed to create these infrastructures and provide electricity at the
construction sites. The market for diesel genset in Saudi Arabia also includes
the application of energy and utilities, where they are needed to
supply auxiliary or backup power. Saudi Arabia is an oil-producing country, and
about 90% of the extracted oil is exported to other markets. Demand for diesel
genset has risen as a result of rural areas' lack of access to grid
electricity. Because of the 85 mega projects worth more than $1 billion each
that are planned to be finished by 2030 and expected to boost the growth
of Genset in the upcoming years, the Saudi Arabia Diesel Genset market is
anticipated to expand during the projected period. For instance, development
of new hotels and malls, which mainly rely on diesel generators, has also been
prompted by an increase in tourists across the regions.
The market's growth may be
attributed to the substantial demand from the construction and infrastructure
industries as well as recently established industries like the automotive and
transportation sectors. The market also experienced significant growth in the
following years as a result of "Saudi Vision 2030" and mega projects
like Al Widyan, Aseer Development Project, Jeddah Central Projects, and many
others, which contributed to the rise in demand for diesel Genset in the Saudi
Arabian region, specifically in the Eastern, Central, Northern, Northwest,
Midwest, and Southwest.
Based on KVA rating, there
are various sub-segments namely Small Diesel Generator {10KVA-375KVA}, Medium
Diesel Generator {375KVA-1000KVA}. The Medium Diesel Genset {375.1kVA - 750kVA}
has emerged as a major shareholder in the market and is expected to remain at a
healthy CAGR in the upcoming years, due to the extensive use of its power
backup system in the industrial and logistical sectors. Additionally, the Saudi
Arabian National Development and Logistic Program are anticipated to draw in a
sizable amount of investment—roughly USD 500 billion—by 2030 in the
manufacturing, logistics, and industrial sectors, fueling the demand for the
Saudi Arabia Diesel Genset market in the coming years.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Saudi Arabia Diesel Genset Market".
In the upcoming years, the
market for diesel generators in Saudi Arabia is anticipated to be influenced by
several important factors, including the increasing number of upcoming
infrastructure projects and rising electricity demand, both of which are
supported by favorable government initiative schemes for the country's overall
development. Examples of upcoming infrastructure projects in the nation include
"Neom," the Red Sea Project, Amaala, GCC Railway Project, Waterfront
Infrastructure Facilities Project - Phase II, Medina Metro Project, and many
more. Additionally, throughout the projected period, the Saudi Arabian diesel Genset
market is anticipated to benefit from the growing emphasis on energy
efficiency. The government-imposed statewide lockdown caused by the coronavirus
outbreak has negatively damaged the country's diesel generator industry in
2020, causing both the demand and supply of diesel Genset to be interrupted.
After the pandemic, the market is anticipated to grow.
The Saudi
Arabia market for diesel gensets accounted for a sizable portion of the
global market, which may be attributed to the country's strong industrial
sector and its quickly expanding automobile industry. However, the market is
anticipated to develop at the fastest rate due to the booming construction and
industrial sectors, which will greatly increase the need for Diesel Genset
in the nation throughout the course of the forecast period.
Moreover, the
National Transformation Programme 2020 and Saudi Arabia Vision 2030 are two
government initiatives that aimed to develop and strengthen public service
sectors including healthcare, education, infrastructure, and tourism. As a
result, these government initiatives have increased the demand for Diesel
Gensets in Saudi Arabia.
Key market
players in the Saudi Arabia Diesel Genset Market include:
- Saudi Cyprus
Foundry Limited
- Aksa Power Generation
- Alkhorayef Group
- Atlas Copco Industrial Equipment Co
- Cummins Inc
- Kirloskar DMCC
- MTU Onsite Energy Corporation
- Saudi Diesel Equipment Co. Ltd
- Abdullah Hashim Co.Ltd (Damman)
- Caterpillar Inc
- Kohler Co
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“The
government's efforts to diversify the economy away from the oil sector and
toward non-oil sectors, as well as the rising number of upcoming infrastructure
projects like Neom City, the Red Sea Project, Amaala, GCC Railway Project,
Waterfront Infrastructure Facilities Project - Phase II, and Medina Metro
Project, are supporting the rising electricity demand. The "Saudi Vision
2030" also had a significant impact on the market. This plan aims to
lessen Saudi Arabia's dependency on oil and put more emphasis on the growth of
other industries, including tourism, infrastructure, and health. The
establishment of Dahiyat Al Fursan City in Riyadh, which is expected to be
finished by 2026, is planned by the Saudi Arabian Ministry of Housing. The
project involves erecting townhomes, apartments, educational and commercial
facilities, as well as centers for research and development.” Therefore, these
factors are fuelling the market growth of the “Saudi Arabia Diesel Genset market in
the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Saudi Arabia Diesel Genset Market, By KVA Rating (Small Diesel Generator {10KVA-375KVA},
Medium Diesel Generator {375KVA-1000KVA}, Large Diesel Generator{1000+KVA}), By
Application (Backup Power, Prime Power, Peak Shaving), By End User Industry (Residential,
Commercial, Industrial, Public, Others), By
Region, Competition, Forecast & Opportunities, 2028F”, has evaluated the future growth potential of Saudi Arabia Diesel Genset Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in Saudi Arabia Diesel
Genset market.
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