Saudi Arabia’s diesel genset market is set to witness an upward trend over the next six years at a growth rate of 13.55 per cent, according to research firm 6Wresearch.

The demand for diesel genset is expected to thrive on account of growing public infrastructures, industrial base, retail and hospital sectors, and supplying power in remote areas, it said.

With rising investments in the kingdom, changing government policies and reforms, several mega construction activities has been witnessed in the last few years.

Among all GCC countries, Saudi Arabia is the leading country in the construction segment and to build these infrastructures and supply power at the construction sites, diesel gensets are primarily used.

Energy and utilities is another contributing application in Saudi Arabia’s diesel genset market, where these are required to provide auxiliary or back up power.

Saudi Arabia is an oil producing nation and almost 90 per cent of oil extracted is exported in the international market. The unavailability of grid power in remote locations has resulted into an increased demand for diesel gensets.

Avishrant Mani, senior research analyst, Research and Consulting, 6Wresearch, said: “During the forecast period, 85 mega projects each worth of more than $1 billion are lined up, which are expected to be completed by 2030, would spur the growth of genset in the coming years.

“Further, rising number of tourists have resulted into construction of new hotels and malls, which are depending heavily on diesel gensets. Additionally, these provide back-up power source in case of any power failure.

“Diesel genset on rent is one of the major trends that is witnessed in the country. Real estate companies deploy gensets on rental basis at the construction sites to reduce the burden of high purchasing cost.”

The major companies in Saudi Arabia’s diesel genset market include Saudi Diesel Equipment, Cummins, Caterpillar, Himoinsa Power, Atlas Copco, and Kirloskar, said the Saudi Arabia Diesel Genset Market (2015-2021).

The report estimates and forecast overall Saudi Diesel Genset market by revenue, by types of diesel gensets, and end user application such as telecommunications, construction, energy and utilities, metal and mining applications and others.

The report also gives the insights on competitive landscape, market share by companies, company profile, market drivers and restraints. - TradeArabia News Service