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The market for diesel generators in the Middle East is expected to grow at a compound annual growth rate of 4.3% from 2017 through to 2023, according to an industry report by 6Wresearch.
The growth in the segment being led both by efforts by Gulf economies to diversify into non-oil sectors, and by the ongoing development of mega projects in the region, including the Dahiyat Al Fursan New City in Saudi Arabia and Al Maktoum International Airport expansion in the UAE.
Diesel gensets with capacities ranging from 5kVA to 75kVA currently account for the majority of the market in Middle East markets, due to high demand in construction, retail and telecom sectors, followed by medium rated diesel gensets, ranging from 75kVA to 375kVA.
Government transportation projects are also a prime application for diesel gensets in Middle East, while the power rental or temporary power market is also witnessing growth due to short term power demand in various development projects.
[Saudi Arabia, UAE and Turkey are expected to capture majority of the market in Middle East region during the forecast period due to their economic recovery, high share of the construction awards and growing retail sectors," noted Akash Jain, research associate at 6Wresearch.
[Development of industrial zones such as Sino-Oman Industrial City and Al Naayem Industrial Zone in Kuwait and Oman will also drive the diesel genset market in Middle East region."
Companies highlighted by the report include Cummins, Caterpillar, Aksa, Teksan and Perkins.
Ravi Bhandari, assistant manager for research and consulting at 6Wresearch, added: [Turkey and Lebanon are the two prime locations for export of diesel genset to other parts of the Middle East region, as these countries have strong local manufacturing bases."
The full report provides an in-depth analysis of the market across 400 pages, with a breakdown of the forecast by revenues, volumes, KVA ratings, final applications and country markets.
In another 6Wresearch report published earlier this year, the diesel genset rental market in Saudi Arabia was forecast to grow at a compound annual growth rate of 3.7% from 2017 through to 2022.
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