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Madagascar Diesel Genset Market Report 2022: A $27.75 Million Market by 2030 - Increase in Frequency of Power Outages
Malagasy Diesel Genset Market
Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Madagascar Diesel Genset Market Size and Share Analysis by Power Rating, Application - Industry Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Madagascar diesel genset market was valued at $21,429.8 thousand in 2021, and the market will propel at a 2.9% CAGR during 2021-2030, to reach $27,755.7 thousand.
The speedy growth in the construction and telecom sectors and the intensification in the incidence of power cuts are the main factors accountable for the growth of the market.
According to the World Bank, only about 27% of the population of Madagascar had access to electricity in 2019, which is one of the primary reasons for the increasing requirement for diesel gensets in the mining, telecom, construction, and residential sectors.
The telecom sector of Madagascar has profited from the snowballing rivalry among key operators such as Orange Madagascar, Airtel, and Telma. In 2021, the government relaxed the excise duty on telecom products to 8% from 10%, which is advantageous for customers. This opened the gates for a high requirement for diesel gensets in telecom towers to cope with the high-frequency power cuts.
Key Findings of Madagascar Diesel Genset Market
The 15-75 kVA category held the largest share, of approximately 42%, in 2021. This is due to the increasing use of these gensets in residences, small industries, restaurants, hotels, telecom towers, and commercial complexes.
Furthermore, the 376-750 kVA category is the second significant contributor to the Madagascar diesel genset market. The primary reason for this is the high requirement for these generators in industries and commercial complexes.
The commercial application category is likely to grow at the highest rate in the years to come, propelling at a 3.9% CAGR. This can be primarily due to the constant advancement in the construction sector.
The Madagascar diesel genset market is likely to be boosted by the increase in the requirement for power backup in the commercial and residential sectors and the development of the mining and construction industries.
Power consistency is an important prerequisite for Madagascar's economic development. Thus, the requirement for energy among public institutions of the country has augmented, to improve the eminence of the services provided to people.
Key firms in the Madagascar diesel genset market are taking part in partnerships and alliances with the intention of staying ahead of their competitors. For example, Green Energy Solutions (GES) and Colas Madagascar entered into a collaboration in April 2021 to construct a hybrid power plant driven by solar energy for Colas Madagascar at the Ambokatra quarry and offer construction supplies within the country.
Industry Outlook
Trends
Increase in frequency of power outages
Drivers
Rapid growth in telecom sector
Impact analysis of drivers on market forecast
Restraints
Growing preference for clean energy
Harmful effects of diesel gensets
Impact analysis of restraints on market forecast
Impact of COVID-19
Company Profiles
Aksa Power Generation SA (Pty) Ltd
Jubaili Bros
Atlas Copco AB
Kohler Co.
Cummins Inc.
Caterpillar Inc.
Aggreko Ltd
Market Segments
By Power Rating
15-75 kVA
76-375 kVA
376-750 kVA
Above 750 kVA
By Application
Commercial
Retail establishments
Offices
Telecom towers
Hospitals
Hotels
Others
Industrial
Manufacturing
Energy & Power
Others
Residential
For more information about this report visit https://www.researchandmarkets.com/r/x2l1gy
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