Saudi Arabia Diesel Gensets Market to be Worth USD700 Million by 2020
Growing demand from residential, commercial as well as manufacturing sectors to augment demand for diesel gensets in Saudi Arabia through 2020
According to TechSci Research report “Saudi Arabia Diesel Gensets Market Forecast and Opportunities, 2020”, the market for diesel gensets in Saudi Arabia is forecast to surpass USD700 million by 2020. With the country anticipated to witness robust increase in infrastructure expansion and development projects in residential, commercial and manufacturing sectors in the coming years, the need for a consistent and reliable source of electricity. This along with increasing government focus to reduce dependence on oil, in the form of government investments in non-oil sectors is forecast to propel demand for diesel gensets in the country from various end user sectors over the next five years.
Growing burden to meet the continuously growing demand for reliable and seamless electricity supply is expected to pump growth in the country’s diesel gensets market through 2020. The highest demand for diesel gensets in the country is forecast to emanate from the Eastern and Northern & Central regions, as a large number of major residential, commercial and manufacturing facilities fall in these regions. In 2014, eastern, northern and central parts of the country accounted for around three-fourths of the overall demand for diesel gensets. Residential sector, which accounted for a majority volume share in the country’s diesel gensets market in 2014, has been growing consistently in Riyadh and Jeddah, and both of these regions are expected to fuel growth in diesel gensets market during the forecast period.
“Saudi Arabia diesel gensets is projected to witness moderate growth on account of consistently growing demand from end use sectors. Increasing government focus on these end use non-oil industries is expected to boost the sales of diesel gensets during 2015-20. Further, implementation of stringent environmental regulations is expected to increase demand for environment-friendly diesel gensets in Saudi Arabia through 2020.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Diesel Gensets Market Forecast and Opportunities, 2020” has evaluated the potential of diesel gensets market in Saudi Arabia,and provide information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in diesel gensets market in Saudi Arabia.
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