Iran Diesel Generator Set Market Overview
The Iranian diesel generator set market is expected to witness a strong growth during the forecast period, owing to the increasing demand for diesel generator (DG) sets from the industrial sector of the country. In recent years, the country has received investments for the setup of new manufacturing facilities, along with the growth in the construction sector. This, in turn, has benefitted the market to a great extent, owing to the requirement of continuous electric power in manufacturing units. With the increasing investments in research for the development of highly efficient DG sets, manufacturers in the country market are shifting toward the development of new diesel genset models for serving emergency as well as common power applications. This is likely to pave the way for the adoption of efficient and technical advanced DG sets in Iran.
The Iranian diesel generator set market is classified into 5 kVA–75 kVA, 75 kVA–375 kVA, 375 kVA–750 kVA, and above 750 kVA, based on power rating. Of these, the 5 kVA–75 kVA category is expected to account for a significant market share during the forecast period. This can be ascribed to the high preference of 5 kVA–75 kVA DG sets in small-scale manufacturing facilities, telecom towers, commercial complexes, and offices, among several others.
The Iranian diesel generator set market is categorized, on the basis of application, into residential, commercial, and industrial. Amongst these, the industrial category is projected to hold a significant share in the market in coming years. This can be ascribed to the substantial growth of the petrochemicals, textiles, and construction sectors in the country, wherein manufacturing facilities require continuous supply of power for smooth and efficient operations. Owing to such factors, the demand for diesel gensets from the industrial sector is expected to grow in Iran during the forecast period.
Iran Diesel Generator Set Market Dynamics
Drivers
The mining sector is showcasing significant demand for DG sets, which, in turn, is driving the Iranian diesel generator set market growth to a great extent. Mining sites are located in remote locations, wherein there is low or no grid connectivity, and in order to conduct smooth operations, DG sets serve as an efficient source of electricity. Additionally, the mining industry in the country holds significant growth opportunities, on account of the country holding the world’s largest zinc reserve and the second-largest copper reserve. Additionally, the commercial sector is witnessing a strong growth, owing to which the demand for DG sets from facilities, such as education institutes and commercial buildings, is projected to increase. Therefore, such factors are expected to boost the diesel generator set market in Iran during the forecast period.
Restraints
In recent years, the market in the country has witnessed a negative impact on account of the U.S. sanctions, which have created a turmoil for oil and gas exports of the country. The reinstatement of the U.S. sanctions in November 2018 imposed on the energy, shipping, and financial sectors caused foreign investment to dry up and hit oil exports. This has significantly impacted the oil & gas production in the country, thereby negatively impacting the market for DG sets in the country.
Iran Diesel Generator Set Market Competitive Landscape
Some of the major companies operating in the diesel generator set market in the country include Cummins Inc., Parsian Diesel Company, MTU Onsite Energy, Caterpillar Inc., and Kashanico.
The study provides the historical as well the forecast market size for diesel generator set market in Iran.
Market Size Breakdown by Segment
The report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Power Rating
- 5 kVA–75 kVA
- 75 kVA–375 kVA
- 375 kVA–750 kVA
- Above 750 kVA
Based on Power Requirement
Based on Application
- Residential
- Commercial
- Industrial
