Dublin, June 03, 2021 (GLOBE NEWSWIRE) -- The "Kuwait Diesel Genset Market (2021-2027): Market Forecast by KVA Rating, by Applications, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Kuwait Diesel Genset Market size is projected to grow at a CAGR of 4.9% during 2021-2027.
Kuwait diesel genset market would witness modest growth over the coming years on account of rising demand for a continuous and reliable source of power, increasing power outages, thereby leading to the rising need for power backup solutions.
Additionally, the rising demand for electricity in Kuwait in line with the infrastructural growth in the country along with the projected growth in the construction market, upcoming new hotels and shopping malls such as Horeca Kuwait, Dusit Princess Mahboula, Al Khiran Hybrid Outlet Mall, Marina Mall on the back of increasing government spending on infrastructural development projects would drive the diesel genset market in the country over the forthcoming period.
The outburst of coronavirus has adversely impacted the country's diesel genset market in 2020 as the government imposed a nation-wide lockdown which has led to the closure of all construction operations and disrupted the demand and supply of diesel gensets, however, the market is expected to recover in 2021 due to opening of international borders and gradual restart of economic activities in the country.
Diesel gensets find its applications in various sectors such as industrial, commercial and residential, however, on account of the global coronavirus pandemic, the government decided to shut all the major operations in many sectors to curb the spread of the virus thereby restraining the diesel genset market growth during the first three quarters of 2020.
However, the upcoming construction projects such as Sabah Al Ahmad City Sector B, South Al Mutlaa City, Al Sabah Al Ahmad Future City, Jaber Al Ahmad City, Nuwaiseeb Independent Water and Power Project among many others require uninterrupted power supply which would bolster the demand for diesel gensets in the country over the coming period.
Based on applications, the industrial vertical emerged as the dominating segment, in revenue terms in 2020 on account of widespread usage of gensets in factories and manufacturing plants. Power generation and oil & gas industries are the major users of diesel generators in the industrial segment. As these processes are critical, they are generally backed by a secondary power source such as diesel gensets, to provide power in case of outages and to cater to additional load/power requirements.
Atlas Copco Industrial Equipment Co.
Cummins Middle East FZE.
Himoinsa Middle East, FZE
Kirloskar Oil Engines Limited
MHI Engine System Middle East FZE
MTU Onsite Energy Corporation
Yanmar Holdings Co., Ltd.
Key Highlights of the Report:
Kuwait Diesel Genset Market Overview.
Kuwait Diesel Genset Market Outlook.
Kuwait Diesel Genset Market Forecast.
Historical data and forecast of Kuwait Diesel Genset Market Revenues and Volume, for the Period, 2017-2027F.
Historical data and Forecast of Revenues and Volume, By kVA Ratings, for the Period, 2017-2027F.
Historical data and Forecast of Revenues and Volume, By Applications, for the Period, 2017-2027F.
Historical data and Forecast of Revenues and Volume, By Regions, for the Period, 2017-2027F.
Market Drivers and Restraints
Kuwait Diesel Genset Market Trends
Industry Life Cycle
Porter's Five Forces Analysis
Market Opportunity Assessment
Kuwait Diesel Genset Market Share, By Companies
Key Strategic Recommendations
By kVA Ratings
Up to 75 kVA
1 - 375 kVA
1 - 750 kVA
1 - 1000 kVA
Above 1000 kVA
Commercial (Hospitality, BFSI, IT & ITES, Construction, Offices)
Transportation & Infrastructure
For more information about this report visit https://www.researchandmarkets.com/r/21bk7q
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