Post 2014, the revenues of the Government of Saudi Arabia suffered a downward spiral due to plummeting crude oil prices. This global trend transformed into a considerable loss of earnings to the Government. Therefore, the major construction activities were put on a hold. However, revival of crude oil prices in early 2017 had a positive impact on the investments of the government on infrastructure development. Therefore, the increasing government initiatives such as Saudi Vision 2030 is anticipated to positively impact the growth of the construction sector thereby strongly contributing to the growth of Saudi Arabia power rental market in the forthcoming period.
According to MarkNtel Advisors’ research report “Saudi Arabia Power Rental Market Analysis, 2020”, the power rental market is projected to grow at a CAGR of around 12% during 2020-25. The economic diversification and introduction of new projects apart from oil & gas sector has boosted the number of foreign investments in the country. The total number of greenfield investments in the Kingdom reached 103 in 2018 from 89 in 2017. Hence, it is estimated to result in the establishment of new buildings which would positively impact the growth of Saudi Arabia power rental market.
With increasing tourism activities in Saudi Arabia, the demand for luxury hospitality segment has been growing at a rapid pace, which is further anticipated to catalyse the power rental market in the country. Moreover, the surging number of pilgrims in the country provides emphasis on establishing more mosques and metro rail projects to offer quality services to the pilgrims thereby strongly contributing to the growth of Saudi Arabia power rental market, revealed by MarkNtel Advisors’ research report “Saudi Arabia Power Rental Market Analysis, 2020”.
As per MarkNtel Advisors’ study, the diesel generator captured a significant market share in the Saudi Arabia power rental market in 2019. The growing energy consumption in the country is projected to positively impact the demand for diesel generators. According to the General Authority of Statistics, the energy consumption from the household is rising at a faster pace and the total number of housing units in 2018 were around 5.5 million, an increase of around 2.1% over 2017. The increase is majorly driven by expatriates and foreign workers. Therefore, the surging number of residential units is anticipated to boost the opportunities for diesel generator companies.
The major players who has grabbed a considerable market share in the Saudi Arabia power rental market include Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, etc.
"Saudi Arabia Power Rental Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for power rental firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Genset Type (Diesel Generator, Gas Generator)
2. By Capacity (Below 100 KVA, 100.1 KVA-350 KVA, 350.1-750 KVA, 750.1-1000KVA, Above 1000 KVA)
3. By Application (Power Utilities, Oil & Gas, Construction, Manufacturing, Mining, Others)
4. By Geographic Region (North, West, East, Central)
5. By Competitors (Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, Others)
Key questions answered in the study:
1. What are the current and future trends of the Saudi Arabia power rental market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Saudi Arabia power rental market?
6. What are the customer orientation, purchase behavior, and expectations from the power rental companies across various regions?