The
Kuwait diesel gensets market stood at US$49.1 million. It is expected
that this market will register growth at a CAGR of 5.0% during the
period of 2014 to 2023 and will reach US$79.7 million by the end of
the forecast period.The construction industry in Kuwait is thriving,
with a series of new projects set to be completed in the near future.
However, this region has faced major problems of power supply
shortage in recent times. Consequently, the demand for diesel gensets
is expected to rise in the coming years as diesel gensets, apart from
being a steady source of standby power, are also utilized for
continuous power supply in large construction projects. On the other
hand, the added power generation capacity and increased deployment of
renewable energy in this region is likely to curb the dependency on
diesel-fueled power solutions limiting the market for diesel gensets
in Kuwait.
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Kuwait Diesel Gensets Market Report with Full TOC at
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Presently,
in Kuwait, the rental diesel gensets market generates more revenue
than the new diesel gensets market, and is thus considered the
dominant segment based on product type. Contractors and operators of
infrastructure projects to be constructed in Kuwait are projected to
be the main consumer segment of rental diesel gensets. For new diesel
gensets, the major buyers are the end-use industries in the region
that employ diesel gensets as a source of backup power.In 2013, the
market for diesel gensets having a capacity of 0-75 kVA was the key
market for new diesel gensets in terms of units installed. However,
the diesel gensets market in the 500-2000 kVA capacity group
generated the highest revenue and held the largest market share in
2013. The residential sector utilizes these gensets as a source of
backup power, whereas the hydrocarbons and defense industry often
uses these as prime power sources.
500-2000
kVA and over-2000 kVA diesel gensets are generally employed in large
establishments as a source of standby power. Various large industrial
users such as airports and refinery complexes deploy such large
diesel gensets for power backup. The major participants in the Kuwait
diesel gensets industry are Kohler Co., Caterpillar, Inc., FG Wilson
Ltd., Cummins, Inc., MTU Onsite Energy GmbH., and Aggreko Plc.
Several projects for new refineries and port construction as well as
expansion of existing ones are planned in the coming years in this
region. These projects are expected to extensively propel the demand
for diesel gensets in Kuwait during the forecast period.
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