The Qatar Diesel Generator market is projected to grow at a CAGR of around 8.25% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. This is due to the surge in construction activities, including the development of residential & commercial sectors and sports facilities in the nation to meet the housing, tourism, and entertainment needs. The demand for these generators in Qatar is also largely driven by the government's investment in the building & development of stadiums to support the launch of a growing number of sporting events.
Additionally, upcoming occasions, like the Asian Games in 2030, are fueling the growth of equipment rental businesses & creating a sizable prospective market for domestic producers. Along with this, the government's growing desire to improve the nation's healthcare infrastructure to meet domestic & neighboring countries' healthcare needs, as well as the rising prevalence of non-communicable diseases would contribute to a surge in construction activity.
Moreover, the requirement for continuous power supply for powering equipment at construction sites & for operating medical equipment, temperature control units, and others in hospitals, labs, etc., is escalating the demand. Furthermore, the construction projects of residential buildings, schools, mosques, hospitals, shopping centers, and other facilities in smart cities, as well as the Qatari government's expanding initiatives to strengthen the country's transportation, healthcare, and educational systems would uplift the demand for these generators in the coming years, further states the research report, “Qatar Diesel Generator Market Analysis, 2023.”
Standby Diesel Generators to Witness Surge in Demand in Coming Years
Based on the type of diesel generators, the market is further bifurcated into Standby, Prime & Continuous Power, and Peak Shaving. Of these, Standby generators would acquire a major market share in the ensuing years. This attributes to the increasing construction of hospitality infrastructure, such as hotels, villas, and resorts, which require a constant power supply in response to the development of the tourism industry in the country.
Further, the rising government focus on improving its revenue from the tourism sector is leading to the development of theme parks, entertainment zones, etc. Also, the growing number of national & international events in Qatar is leading to the construction of conference halls, stadiums, etc. Hence, the requirement for standby generators to facilitate continuous power supply at these places would support the demand in the coming years.
Commercial Sector to Lead the Growth of the Market
Based on end users, the market is divided into Residential, Commercial, Healthcare, Government & Transport, Oil & Gas, Industrial, and Equipment Rental Companies. Amongst these, the Commercial sector would register consistent growth in the market for diesel generators in Qatar in the upcoming years. This is in line with the rapid growth of sectors, such as hospitality, real estate, and finance, in response to the country's booming tourism sector. Along with this, the increasing disposable income of the Qatari population is expanding the demand from these sectors. Hence, the development of these sectors is further supporting the demand for these generators for providing an optimum energy supply to units such as hotels, restaurants, corporate offices, resorts, etc.
Further, the economy is witnessing the development of supermarkets, shopping complexes, stadiums, and other allied infrastructure in response to the surging number of inhabitants, visitors, and sports professionals. Also, the government’s focus on the diversification of the economy & the introduction of new industries would heighten the requirement for diesel generators in the forthcoming years.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Caterpillar Inc., Cummins Middle East FZE, FG Wilson Engineering FZE, PR Middle East FZE, Rolls Royce Solution Middle East FZE, Himoinsa Middle East FZE, Atlas Copco Middle East FZE, MHI Engine Solution Middle East FZE, Saudi Diesel Equipment Co. Ltd., and JCB, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report