Saudi Arabia DG Sets Market Will Touch USD 555.4 Million in 2030

As per a report by P&S Intelligence, the Saudi Arabian Diesel gene sets market generated a worth of USD 412.7 million in 2022, and it will propel at a 3.8% compound annual growth rate, to touch USD 555.4 million, in 2030.

The growth in the industry is attributed to the increasing industrial and construction activities and rising retail business in the nation.

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In 2022, the 750-999 kVA power capacity genset accounted for the largest revenue share, and it will propel at a 4.1% compound annual growth rate in the years to come. This is credited to the nation's mounting hospitality sector.

Based on volume, in 2022, the 15 to 75 kVA category held the largest share, at approximately 57%. This is ascribed to the versatile applications, easy maintenance, and low costs of these generators.

Moreover, the increasing megaprojects in the country, for instance, hotels, educational institutions, office spaces, city, and residential area expansions, have led to a massive surge in the power backup solutions required in the nation. Therefore, driving the growth of this category.

In 2022, the sales of DG sets in the industrial areas accounted for the largest Saudi Arabian DG sets market revenue share, at approximately 46%. This is credited to the fact that these systems offer a one-stop resolution for providing power in conditions such as power outages, emergencies, and grid failure.

Additionally, key infrastructure projects under Vision 2030, for instance, the Neom, the Red Sea, and the Amaala are also boosting the requirement for DG sets.

Furthermore, based on volume, the industrial category will propel at a significant rate in the years to come, owing to the increasing construction projects and the rising emphasis of the government on expanding its economy to the enhancement of other industrial sectors in the country. Therefore, resulting in the mounting requirement for DG sets in the industrial areas to deliver a continuous power supply.

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The growth rate of the industry will increase in the years to come because the oil and gas, mining and metals, chemicals, rail, food and beverage, renewable, and construction sectors are mounting in the nation.

Moreover, the industry will provide lucrative opportunities due to the growing investment by original equipment manufacturers in the nation.

Players in the industry have been involved in joint ventures, facility expansions, and product launches in the past few years, to gain a significant position.

It is because of the growing investment in industrial and construction sectors, mounting consumption of power, and rapid development of educational institutions, smart cities, hotels, residential buildings, and office spaces in the country, the requirement for DG sets will continue to increase in the years to come.

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