According to MarkNtel Advisors' research report, "Saudi Arabia Diesel Generator Market Analysis, 2021," the market is likely to grow at a CAGR of 5% in the forecast period of 2021-26. It owes prominently to the rapidly increasing government support to diversify the overall economy from the oil sector and boost the infrastructural development in the country. In recent years, Saudi Arabia came up with an annual budget for modern infrastructure, mining, construction, oil exploration, etc. These aspects exponentially increase the demand for diesel generators and are likely to create lucrative growth opportunities for the Saudi Arabia Diesel Generators market in the forecast period.
Key Questions Answered in the Study
5 KVA To 75KVA Capacity Diesel Generators To Dominate The Market
Based on Capacity, Saudi Arabia Diesel Generator Market bifurcates into 5 KVA to 75KVA, 75.1 KVA to 375 KVA, 375.1 to 750 KVA, 750.1 KVA to 1000 KVA, and Above 1000 KVA. While each capacity serves a different purpose, the 5 KVA to 75KVA capacity diesel generators are more likely to dominate the market with the largest share in the forecast years. The prominent factors supporting the booming demand of the segment are the increasing need and disruption in the supply of electricity, oil, and gas and growing investments in infrastructure, chemicals, petrochemicals, etc., in the country. Hence, the demand is rising exponentially to fulfill all these burgeoning needs, and it is likely to result in a significant number of purchases of Diesel Generators in Saudi Arabia.
"Saudi Arabia Diesel Generator Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Diesel Generator providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Residential Sector Grabbed the Fastest Market Growth
Based on End-Users, the market segments into Commercial, Industrial, and Residential Sectors. Here, the Residential Sector perceived the fastest growth in the previous years, owing to various supporting factors like rising customer awareness, growing load demand on the primary grid, and a rapidly increasing number of power failures. Besides, diesel generators are a reliable subsequent power source in households in electrical outage situations like blackout, grid failures & power cuts, or others. Hence, the demand for diesel generators is surging, resulting in the segment witnessing the fastest growth, states MarkNtel Advisors in their research report, “Saudi Arabia Diesel Generator Market Analysis, 2021.”
According to MarkNtel Advisors, the leading players in the Saudi Arabia Diesel Generator Market are Cummins, Caterpillar, FG Wilson, Perkins, MTU, etc.