Kuwait Diesel Generator Set Market Overview
A key trend observed in the Kuwaiti diesel generator set market is the steady-increasing usage of diesel generator (DG) sets in the commercial sector. The government of the country is taking initiatives for diversifying the economy from the oil sector. Additionally, it is focusing on providing adequate infrastructure to meet the growing needs of the citizens. This includes commercial complexes, education institutes, schools, and hospitals. In order to provide continuous power supply in such facilities, the adoption of diesel gensets is expected to grow in the country.
The Kuwaiti diesel generator set market is categorized into 5 kVA–75 kVA, 75 kVA–375 kVA, 375 kVA–750 kVA, and above 750 kVA, based on power rating. Among these, the 5 kVA–75 kVA category is projected to account for the largest market share throughout forecast period. This can be primarily attributed to the high-volume adoption of 5 kVA–75 kVA DG sets in areas, such as retail establishments, telecom towers, commercial complexes, offices, and small-scale industrial facilities.
The Kuwaiti diesel generator set market is categorized into residential, commercial, and industrial, on the basis of application. Among these, the industrial application of DG sets is expected to hold a significant market share during the forecast period. The can be ascribed to the high-volume usage of DG sets in the upstream and downstream operations of the oil & gas sector of the country.
Kuwait Diesel Generator Set Market Dynamics
Drivers
The Kuwaiti diesel generator set market is primarily driven on account of the high-volume demand arising from the oil & gas sector. The country is a petroleum-based economy, with 90% of the government revenues coming from the petroleum sector. Additionally, as of 2019, it had oil reserve of 104 billion barrels, which accounted for 9% of the world’s reserve. Moreover, the petroleum industry contributes 43% of the country’s GDP, as the nation is one of the primary exporters of oil & gas. Hence, in order to continue smooth business operations at production sites and for uninterrupted power supply, DG sets serve as a preferable alternative for power generation. Therefore, such factors are expected to drive the diesel generator set market in Kuwait in coming years.
Restraints
The Kuwaiti government is implementing a strong focus toward power generation through renewable energy sources. In 2017, the country announced its target to produce 15% of its power from renewable energy by 2030. This target comes with a focus on reducing dependency on oil resources, in order to be at par with other emerging economies. Additionally, the country aims to adopt technologies for generating solar power in desert areas. Owing to this, the demand for DG sets is likely to be impacted, which, in turn, restraining the market growth during the forecast period.
Kuwait Diesel Generator Set Market Competitive Landscape
Some of the major companies operating in the diesel generator set market in the country include YANMAR HOLDINGS CO. LTD., Jubaili Bros., Cummins Arabia, Caterpillar Inc., Mitsubishi Power Ltd., and Atlas Copco AB.
The study provides the historical as well the forecast market size for the diesel generator set market in Kuwait.
Kuwait Diesel Generator Set Market Size Breakdown by Segment
The Kuwait diesel generator set market 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
