The revival of crude oil prices in 2017 positively impacted the growth of the country’s construction sector. The growing support of the Saudi Arabian government to diversify the economy from oil sector has boosted infrastructure development in the country. In 2018, the country introduced an annual budget of around USD 260 billion, to be spent across the creation of new infrastructure, construction, mining, and oil exploration activities, etc. Therefore, these developments are anticipated to provide new opportunities to the companies providing diesel generators in the Kingdom.
According to the MarkNtel Advisors’ research report titled “Saudi Arabia Diesel Generator Market Analysis, 2020”, the Diesel Generator market is projected to register a CAGR of less than 5% during 2020-25. The diesel generator with 5 KVA to 75 KVA capacity captured a considerable market share in the Saudi Arabia Diesel Generator market in 2019. The establishment of new buildings in the commercial and residential sectors is strongly contributing to the requirement for diesel generators which are used for power backup.
Moreover, the residential sector acquired the highest market share in the Saudi Arabia Diesel Generator market in 2019. The air conditioners in the residential sector result in the highest electricity consumption and with the rising average annual temperature of the country, the demand for air conditioners is also increasing at a faster pace, thus, leading to considerable usage of diesel generators. Hence, it is anticipated to strongly contribute to the growth of the Saudi Arabia Diesel Generator market.
According to MarkNtel Advisors, the key players capturing a substantial market share in the Saudi Arabia Diesel Generator market include Cummins, Caterpillar, FG Wilson, Perkins, MTU, etc. The companies are collaborating together and entering into joint ventures to gain an advantage over their competitors.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Saudi Arabia Diesel Generator Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of Unit sold.
Q. What would be the growth rate or CAGR of Saudi Arabia Diesel Generator Market during 2020-25?
A. The growth rate of Saudi Arabia Diesel Generator Market during 2020-25 is forecast to be around 6%.
Q. Who are the key competitors or players operating in Saudi Arabia Diesel Generator Market?
A Cummins Saudi Arabia Ltd., Kirloskar Oil Engines Limited, Mahindra Powerol Ltd., Caterpillar Inc., Greave Cotton Limited are few of the leading players in the Saudi Arabia Diesel Generator Market.
Q. Does the report scope cover Saudi Arabia Diesel Generator Market Power rating wise market statistics also?
A. Yes, the scope of the report encompass detailed power rating wise statistics such as market size, market segmentation based on various subcategories.
Q. Which capacity of generator would emerge as an opportunity area for players in Saudi Arabia Diesel Generator Market?
A. The diesel generators with capacities ranging from 5 KVA to 75 KVA grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Saudi Arabia Diesel Generator Market.
Q. Which end-user would emerge as an opportunity area for players in Saudi Arabia Diesel Generator Market?
A. The Residential sector will grabbed a significant market and it will continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Saudi Arabia Diesel Generator Market.
