Diesel
Gensets are used in commercial and residential complexes as backup
power sources lest the main grid should fail. They can also be used
as the primary source of power in long-running construction projects.
The diesel genset market is huge in Kuwait. Kuwait’s self-reliance
on petroleum production means that diesel is cheaper there than in
other countries and the raft of new construction projects means that
the demand is rising for the Kuwait diesel genset market.
Browse
Kuwait Diesel Gensets Market Report with Full TOC at
http://www.transparencymarketresearch.com/kuwait-diesel-gensets-market.html
Segmentation
of the Kuwait Diesel Genset Market
The
Kuwait diesel genset market can be divided into two broad categories:
rented and newly purchased. Rented diesel gensets are usually
employed on small-to-moderate construction projects, mainly as backup
to the main power supply. Small private projects usually employ
rented diesel gensets. The rent agreements favor the construction
contractor, since they usually contain clauses that hold the owner of
the gensets responsible for their repairs and regular maintenance,
rather than the contractor.
Long-running
projects initiated by the government often buy new diesel gensets.
This option proves to be cost-effective over long periods. Large
complexes which can’t afford to lose electricity for even short
amounts of time, such as malls and hospitals, also often purchase new
diesel gensets as power backup. Residential buyers also
overwhelmingly prefer buying over renting. The construction industry
boom in Kuwait is expected to boost the numbers of both categories
during the forecast period of 2014-2023.
The
Kuwait diesel genset market is divided by power output into four
categories: 0-75kVA, 75-500 kVA, 500-2000 kVA, and 2000+ kVA. The
0-75 kVA category is by far the most popular category among both
rented and new diesel gensets, with a market share of close to 50% by
volume. The 2000+ kVA category is rare in the market and absent from
the rental category, but due to its high prices, it is the highest
grossing category. These high-capacity gensets are only used in
large, important, and energy-intensive complexes such as oil
refineries and airports.
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Drivers
and Restraints of the Kuwait Diesel Genset Market
One
of the major drivers of the Kuwait diesel genset market is Kuwait’s
strong petroleum industry. Kuwait’s economy is highly reliant on
its production of crude oil and petroleum products; it is a founding
member of the global petroleum cartel OPEC. This benefits the diesel
genset market in two ways. The main influence of the petroleum trade
is the need for diesel gensets in oil extraction and processing
industries. These industries are vital to Kuwait’s economy and need
to be kept running without respite, ensuring a consistent demand for
diesel gensets.
Local
production of petroleum also results in lower prices of diesel than
the global average. This helps the diesel genset market as they are
cheaper to run than other sources of backup power.
A
construction boom initiated by the Kuwaiti government as well as
private constructors has also driven up the Kuwait diesel gensets
market. The expansion of the Kuwait International Airport is one of
many major construction projects initiated by the Kuwaiti government.
These projects will drive up the Kuwait diesel genset market
significantly, allowing it to achieve a CAGR of 5%.
Browse
Press Release Of Kuwait Diesel Gensets Market
http://www.transparencymarketresearch.com/pressrelease/kuwait-diesel-gensets-market.htm
The
only significant restraints to the Kuwait diesel genset market are
the proposals for numerous other power plants. None of the new plants
are built yet, and the diesel genset market will enjoy an unhindered
run till they are finished. Ironically the construction of the power
plants will also drive up the demand for diesel gensets until the
power plants are constructed.
Major
Players of the Kuwait Diesel Genset Market
The
report covers diesel genset companies such as Cummins, Inc.,
Caterpillar, Inc., FG Wilson, etc.
According
to the report, the Kuwait diesel genset market is expected to reach
an estimated value of US$79.7 million in 2023, improving upon its
valuation of US$49.1 million in 2013.
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