Ghana Diesel Generator Set Market Size, Share, Growth, Development and Demand Forecast Report, 2030

A DG Set is also known as a diesel generator set or diesel genset. It is comprised of a diesel engine ad electric generator, made to generate electrical energy. DG sets are mainly used where electricity connections are unavailable to facilitate the link to the power grid. It can also be used as an emergency power supply, which makes it vital for developing countries. Thus, in 2021, the Ghana diesel genset market valued at $54,572.6 thousand, from where it is expected to grow at a rate of 2.3% from 2021 to 2030, to reach $67,032.6 thousand.

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The rising prices of electricity is credited for the increase in the demand for gensets in the country. Due to its expensive nature in the nation, the improving electricity access and distribution infrastructure have failed to lure businesses to utilize it for their operations. Thus, companies in Ghana tend to rely more on DG sets than the grid supply. An inexpensive power supply not only boosts local businesses' operations but also attracts foreign investments. The Ghana DG set market is also driven by the unpaid bills, slow or no cost recovery, electricity theft, and power cuts.

Infrastructure development projects have been rapidly initiated in the country over the last decade, thus driving the country's socio-economic growth. As a result of the swift expansion of the energy transmission network, around 85% of Ghana's population now has access to electricity. Moreover, several transportation projects have already been planned to drive the country's economic development. Along with this, numerous other development projects are in the pipeline, such as airports, hotels, and shopping complexes, which will d rive the genset demand during construction and after operations begin.

In 2021, gensets of a power capacity of 15-75kVA generated significant revenue in the Ghana DG set market, amounting to $21,443.5 thousand. These variants cater to the needs of small-to-medium-size locations, such as individual houses and small commercial spaces, such as standalone shops. In the coming years, the demand for variants that offer power in the range of 751-999 kVA is predicted to grow the fastest in this African nation, as they are important in the mining, oil & gas, and construction sectors.

The fastest-growing category within the end use segment of the Ghana DG set market is set to be industrial. The growing popularity of generators in manufacturing, construction, locomotives, energy and power and small industrial units has led the market to boom. Industrial and mining activities are witnessing a rise, as the country is a major producer of manganese, bauxite, and diamonds. Additionally, as per the International Trade Administration, Ghana produces the most gold in the entire African continent, reflecting the huge contribution of the mining sector to its GDP.

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Numerous manufacturers of gensets are taking expansion measures, which will further favorably impact the Ghana DG set market, due to their operational dependency on diesel generators. They are launching new products, expanding their facilities, and collaborating with other brands to improve their portfolio. They are focused on increasing their customer base, getting a stronger brand recognition, and offering aftermarket services, which include repair, maintenance, and digital services. A significant example is of Takoradi, where Mantrac Group established a new component rebuild center in 2020.

Thus, the infrastructure development projects are significantly leading to a rise in the demand for diesel generators.

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South Africa Diesel Generator Market Report - https://www.psmarketresearch.com/market-analysis/south-africa-diesel-generator-set-market

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