Saudi Diesel Gensets Market Growth Set to Decline: TechSci Research Report
NEW YORK, November 15, 2016 /PRNewswire/ --
Growing infrastructure sector, coupled with rising development projects in residential, commercial and manufacturing sectors to drive demand for diesel gensets in Saudi Arabia in the coming years
According to a recently published TechSci Research report "Saudi Arabia Diesel Gensets Market By Rating, By End User Competition Forecast & Opportunities, 2021",the market for diesel gensets in Saudi Arabia is projected to witness decline in growth during next five years. Though owing topoor grid infrastructure in the country, coupled with rising need for consistent and reliable source of electricity the demand for diesel gensets will growth but marginally.Diesel gensets are deployed in building modern infrastructure to provide prime, back-up and peak powerfor the entire setup. Moreover,as per Ministry of Water and Electricity, Saudi Arabia's peak electricity is projected to reach 90,000MW by 2022, coupled with growing crude oil production to drive demand for diesel gensets in the coming years. Crude oil production in Saudi Arabia is forecast to exhibit a CAGR of 1.29% during 2011-2020, and is projected to reach 12.5 million barrels per day by 2020. Thus, rising crude oil production, coupled with increasinginfrastructure activities to drive the market of diesel gensets in the country through 2021.
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Browse 10 market data Tables and 47 Figures spread through 155 Pages and an in-depth TOC on
"Saudi Arabia Diesel Gensets Market"
Saudi Arabia diesel gensets market was dominated by northern andcentral region, as both the region cumulatively accounted for highest volume shares in 2015, and the regions are anticipated to continue to dominate the market through 2021, owing tofavourable government support that are fueling infrastructural development activities in this region, particularly in cities like Riyadh and Jeddah. Moreover, residential and commercialsectors were leading the end users in thediesel gensets market in Saudi Arabia in 2015, and are further anticipated to lead the market in during the forecast period as well, owing to rapidly expanding population base, increasing purchasing power parity,coupled with rising construction activities in commercial sector and growing tourism industry in the country.
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"Growing demand from construction and industrial sectors located inremoteareas like, petrochemical plants, refineries, oil & gas exploration sites, border posts and educational institutes are driving demand for diesel gensets in Saudi Arabia. Moreover, global crude oil prices are expected to recover by end of 2017, which are further anticipated to fuel oil & gas production. Thereby, driving growth in Saudi Arabia diesel gensets market during the forecast period."Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Saudi Arabia Diesel Gensets Market By Rating, By End User Competition Forecast & Opportunities, 2021" has evaluated the diesel gensets market across Saudi Arabia, and provides statistics and information on market structure, industry behaviour and trends driving the market. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities in Saudi Arabiadiesel gensetsmarket.
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