Rising number of infrastructure projects and manufacturing units along with favorable government initiatives to fuel Saudi Arabia diesel gensets market through 2023
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According to TechSci Research report,“Saudi Arabia Diesel Gensets Market By Rating, By End Use, By Sales Channel, Competition Forecast & Opportunities, 2013-2023’’,Saudi Arabia diesel gensets market is projected to cross $ 500 million by 2023 on account of increasing number of infrastructure projects, establishment of new manufacturing units and government’s Saudi Arabia Vision 2030 to transform the country into a diversified economy by promoting and investing into non-oil based sectors in the coming years. Moreover,rising demand for diesel gensets from the industrial sector is likely to further steer Saudi Arabia diesel gensets market.Additionally, increase in the number of data centers along with growing electricity demand is propelling demand for diesel gensets across the country.
Industrialsector had the largest application share in Saudi Arabia diesel gensets market in 2017, and the segment is likely to maintain its dominance throughout the forecast periodas well owing to increasingoil and gas projects and booming construction and real estate sectors in Saudi Arabia. On the basis of rating, medium voltage diesel gensets accounted for the major revenue sharein the market in 2017due togrowing demand for these gensets from refineries, IT/ITES andretail sector.As per the regional analysis of Saudi Arabia diesel gensetsmarket, Riyadhgarnered the largest value share in 2017 and the region is expected to dominate during the forecast period as well on account of presence of large number of industries and commercial facilities in the region where diesel gensets are used as primary as well as backup power sources.
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Growingdemand for medium voltage diesel gensets over the last five years has led Perkins Engines Company Limitedto account for the largest share in Saudi Arabiadiesel gensets market, followed by Cummins Inc., Jubaili Bros, etc.“’Saudi Arabia Vision 2030’is aimed at boosting the share of non-oil based sectorsfrom 16% in 2016 to 50% by 2030, which would positively influence Saudi Arabia diesel gensets market over medium to long term. Furthermore, technological developments for the use of diesel gensetsin the electricity deficit regions in Saudi Arabia is likely to benefit the market during the forecast period.These market developments are anticipated to steer growth inSaudi Arabia diesel gensetsmarket through 2023.”said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Diesel Gensets Market By Rating, By End Use, By Sales Channel, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of Saudi Arabia diesel gensetsmarket and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Saudi Arabia diesel gensetsmarket.