The Saudi Vision 2030 and rising investments in infrastructure development are driving the growth of the Saudi Arabia Diesel Genset market during the 2024-2028 forecast period.
According to TechSci Research report, “Saudi Arabia Diesel Genset Market – By Region, Competition, Forecast & Opportunities, 2028F”. Due to expanding public infrastructures, an expanding industrial base, increasing retail and hospitality industries, and the need to deliver electricity to remote areas, the Saudi Arabia Diesel Genset market is predicted to have strong growth in the forecast period. In addition, there are substantial infrastructure projects underway throughout several countries.
Building activities have also increased in the Saudi Arabian area. The main commercial hub of the Gulf Cooperation Council is Saudi Arabia (GCC). The last several years have seen several massive building projects take place as a result of increasing foreign investments, shifting government regulations, and changes. Saudi Arabia is among top country in the building sector among the GCC nations.
Diesel Genset is generally employed to create these infrastructures and provide electricity at the construction sites. The market for diesel genset in Saudi Arabia also includes the application of energy and utilities, where they are needed to supply auxiliary or backup power. Saudi Arabia is an oil-producing country, and about 90% of the extracted oil is exported to other markets. Demand for diesel genset has risen as a result of rural areas’ lack of access to grid electricity.
Because of the 85 mega projects worth more than $1 billion each that are planned to be finished by 2030 and expected to boost the growth of Genset in the upcoming years, the Saudi Arabia Diesel Genset market is anticipated to expand during the projected period. For instance, development of new hotels and malls, which mainly rely on diesel generators, has also been prompted by an increase in tourists across the regions.
The market’s growth may be attributed to the substantial demand from the construction and infrastructure industries as well as recently established industries like the automotive and transportation sectors. The market also experienced significant growth in the following years as a result of “Saudi Vision 2030” and mega projects like Al Widyan, Aseer Development Project, Jeddah Central Projects, and many others, which contributed to the rise in demand for diesel Genset in the Saudi Arabian region, specifically in the Eastern, Central, Northern, Northwest, Midwest, and Southwest.
Based on KVA rating, there are various sub-segments namely Small Diesel Generator {10KVA-375KVA}, Medium Diesel Generator {375KVA-1000KVA}. The Medium Diesel Genset {375.1kVA – 750kVA} has emerged as a major shareholder in the market and is expected to remain at a healthy CAGR in the upcoming years, due to the extensive use of its power backup system in the industrial and logistical sectors.
Additionally, the Saudi Arabian National Development and Logistic Program are anticipated to draw in a sizable amount of investment—roughly USD 500 billion—by 2030 in the manufacturing, logistics, and industrial sectors, fueling the demand for the Saudi Arabia Diesel Genset market in the coming years.
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In the upcoming years, the market for diesel generators in Saudi Arabia is anticipated to be influenced by several important factors, including the increasing number of upcoming infrastructure projects and rising electricity demand, both of which are supported by favorable government initiative schemes for the country’s overall development. Examples of upcoming infrastructure projects in the nation include “Neom,” the Red Sea Project, Amaala, GCC Railway Project, Waterfront Infrastructure Facilities Project – Phase II, Medina Metro Project, and many more.
Additionally, throughout the projected period, the Saudi Arabian diesel Genset market is anticipated to benefit from the growing emphasis on energy efficiency. The government-imposed statewide lockdown caused by the coronavirus outbreak has negatively damaged the country’s diesel generator industry in 2020, causing both the demand and supply of diesel Genset to be interrupted. After the pandemic, the market is anticipated to grow.
The Saudi Arabia market for diesel gensets accounted for a sizable portion of the global market, which may be attributed to the country’s strong industrial sector and its quickly expanding automobile industry. However, the market is anticipated to develop at the fastest rate due to the booming construction and industrial sectors, which will greatly increase the need for Diesel Genset in the nation throughout the course of the forecast period.
Moreover, the National Transformation Programme 2020 and Saudi Arabia Vision 2030 are two government initiatives that aimed to develop and strengthen public service sectors including healthcare, education, infrastructure, and tourism. As a result, these government initiatives have increased the demand for Diesel Gensets in Saudi Arabia.
Key market players in the Saudi Arabia Diesel Genset Market include:
- Saudi Cyprus Foundry Limited
- Aksa Power Generation
- Alkhorayef Group
- Atlas Copco Industrial Equipment Co
- Cummins Inc
- Kirloskar DMCC
- MTU Onsite Energy Corporation
- Saudi Diesel Equipment Co. Ltd
- Abdullah Hashim Co.Ltd (Damman)
- Caterpillar Inc
- Kohler Co
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“The government’s efforts to diversify the economy away from the oil sector and toward non-oil sectors, as well as the rising number of upcoming infrastructure projects like Neom City, the Red Sea Project, Amaala, GCC Railway Project, Waterfront Infrastructure Facilities Project – Phase II, and Medina Metro Project, are supporting the rising electricity demand. The “Saudi Vision 2030” also had a significant impact on the market. This plan aims to lessen Saudi Arabia’s dependency on oil and put more emphasis on the growth of other industries, including tourism, infrastructure, and health.
The establishment of Dahiyat Al Fursan City in Riyadh, which is expected to be finished by 2026, is planned by the Saudi Arabian Ministry of Housing. The project involves erecting townhomes, apartments, educational and commercial facilities, as well as centers for research and development.” Therefore, these factors are fuelling the market growth of the “Saudi Arabia Diesel Genset market in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Diesel Genset Market, By KVA Rating (Small Diesel Generator {10KVA-375KVA}, Medium Diesel Generator {375KVA-1000KVA}, Large Diesel Generator{1000+KVA}), By Application (Backup Power, Prime Power, Peak Shaving), By End User Industry (Residential, Commercial, Industrial, Public, Others), By Region, Competition, Forecast & Opportunities, 2028F”, has evaluated the future growth potential of Saudi Arabia Diesel Genset Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in Saudi Arabia Diesel Genset market.
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