Kuwait Diesel Gensets Market to Reach US$79.7 mn by 2023 owing to Shortage of Power Supply
Transparency Market Research has published a new report on the Kuwait diesel gensets market. As per the report, the Kuwait diesel gensets market is expected to expand at a 5.0% CAGR during the period from 2014 to 2023. The report, titled ‘Kuwait Diesel Gensets Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2023,’ states that the Kuwait diesel gensets market is predicted to progress from a value of US$49.1 mn in 2013 to US$79.7 mn by 2023.
Browse the full Kuwait Diesel Gensets Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2023 report at https://www.transparencymarketresearch.com/kuwait-diesel-gensets-market.html
The construction industry across Kuwait is developing fast, with a series of new development projects lined up in the coming few years. The added capacity of power generation and the augmented deployment of renewable energy across Kuwait is expected to curb the demand for diesel operated gensets and thus hamper the growth of the Kuwait diesel gensets market in the next five years. However, in recent times, Kuwait has faced several challenges in power supply, resulting in slow progress of construction projects in the country. Thus, the demand for diesel gensets is predicted to rise across Kuwait in the coming few years.
The Kuwait diesel gensets market is segmented on the basis of type and capacity. By type, the Kuwait diesel gensets market is classified into rented diesel gensets and new diesel gensets. At present, in Kuwait, rented diesel operated gensets are generating more revenue as compared to new diesel gensets. However, the rented diesel gensets segment is expected to dominate the Kuwait diesel gensets market in the years to come. Operators and contractors of infrastructure projects that are to be constructed across Kuwait are expected to be the lead consumer segment for rental diesel gensets.
By capacity, the Kuwait diesel gensets market is classified into 0-75 kVA, 75-500 kVA, 500-2000 kVA, and 2000 kVA and above. In 2013, in terms of units installed, the 0-75 kVA capacity segment dominated the Kuwait diesel gensets market. However, in terms of revenue, in 2013, the Kuwait diesel gensets market was led by the 500-2000 kVA capacity segment.
500-2000 kVA and 2000 kVA and higher capacity gensets are employed in bigger establishments as their primary source of standby power. Such high-capacity diesel gensets are deployed by large industrial users, including refinery complexes and airports. Some of the leading companies operating in the Kuwait diesel gensets market are Kohler Co., FG Wilson Ltd., MTU Onsite Energy GmbH., Aggreko Plc., Caterpillar, Inc., and Cummins, Inc. In the next few years, several new infrastructure projects for port construction and refineries are planned across Kuwait by the leading players. Also, the expansion of existing projects across Kuwait is predicted to propel the Kuwait diesel gensets market in the years to come.
By 2023, the Kuwait diesel gensets market will be focusing on the provision of power supply for the completion of projects such as the expansion of Kuwait International Airport, metro rail, and the silk city. The demand for small-capacity diesel gensets is expected to be higher in the domestic and commercial sectors, whereas high-capacity gensets are expected to be deployed for refinery operations.
Key Segments of Kuwait Diesel Gensets Market
Kuwait Diesel Gensets Market: Type Analysis
- Rental Gensets
- New Gensets
Kuwait Diesel Gensets Market: Capacity Analysis
- 0–75 kVA
- 75–500 kVA
- 500–2000 kVA
- Over 2000 kVA
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