A new publication, added by Transparency Market Research (TMR)to its repository, provides a comprehensive analysis of the diesel gensetsmarket in Kuwait, stating that the industry is expected to have a boomingfuture in this region.According to this market study, titled “KuwaitDiesel Gensets Market - Industry Analysis, Size, Share, Growth, Trends, andForecast, 2014 - 2023”, in 2013, the Kuwait dieselgensets market stood at US$49.1 million. It isexpected that this market will register growth at a CAGR of 5.0% during theperiod of 2014 to 2023 and will reach US$79.7 million by the end of theforecast period.The construction industry in Kuwait is thriving, with a seriesof new projects set to be completed in the near future. However, this regionhas faced major problems of power supply shortage in recent times.Consequently, the demand for diesel gensets is expected to rise in the comingyears as diesel gensets, apart from being a steady source of standby power, arealso utilized for continuous power supply in large construction projects. Onthe other hand, the added power generation capacity and increased deployment ofrenewable energy in this region is likely to curb the dependency ondiesel-fueled power solutions limiting the market for diesel gensets in Kuwait.
Presently, in Kuwait, the rental diesel gensets marketgenerates more revenue than the new diesel gensets market, and is thusconsidered the dominant segment based on product type. Contractors andoperators of infrastructure projects to be constructed in Kuwait are projectedto be the main consumer segment of rental diesel gensets. For new dieselgensets, the major buyers are the end-use industries in the region that employdiesel gensets as a source of backup power.In 2013, the market for dieselgensets having a capacity of 0-75 kVA was the key market for new diesel gensetsin terms of units installed. However, the diesel gensets market in the 500-2000kVA capacity group generated the highest revenue and held the largest marketshare in 2013. The residential sector utilizes these gensets as a source ofbackup power, whereas the hydrocarbons and defense industry often uses these asprime power sources.
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500-2000 kVA and over-2000 kVA diesel gensets are generallyemployed in large establishments as a source of standby power. Various largeindustrial users such as airports and refinery complexes deploy such largediesel gensets for power backup. The major participants in the Kuwait dieselgensets industry are Kohler Co., Caterpillar, Inc., FG Wilson Ltd., Cummins,Inc., MTU Onsite Energy GmbH., and Aggreko Plc. Several projects for newrefineries and port construction as well as expansion of existing ones areplanned in the coming years in this region. These projects are expected toextensively propel the demand for diesel gensets in Kuwait during the forecastperiod.
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