Kuwait Diesel Gensets Market Trends and Forecast 2014 - 2023

The construction industry in Kuwait is booming with a series of new projects to be completed during the forecast period. As a result, demand for diesel gensets is likely to rise in the near future. Apart from being a reliable source for standby power, diesel gensets are also used to provide continuous power during working and completion of large construction projects. According to the ‘Government of Kuwait’s five-year development plan (2015–2020), several large-scale construction projects are to be completed during the forecast period. This development plan will majorly drive investments in the Kuwait diesel gensets market within the forecast period. The oil industry is the economic backbone of Kuwait and uninterrupted power supply is critical to ensure upstream and downstream operations can be carried out efficiently and without interruption. The price of diesel in Kuwait is also significantly low as compared to the global average, thereby resulting in faster adoption of diesel fuel for the purpose of power generation. While smaller variants of diesel gensets are preferred for prime power purposes, higher capacity diesel gensets may also be utilized in large facilities for backup power. Though numerous power projects are in development stages, the country’s reliance on diesel gensets for power supply is likely to remain high until these are commissioned.

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The diesel gensets market in Kuwait is categorized into two basic segments: rental diesel gensets and new diesel gensets. Rental gensets are majorly used during construction activities for continuous power generation. On the other hand, new diesel gensets are usually installed for back-up power generation during emergency situations. The construction and infrastructure industries in Kuwait are the major consumer segments for rental diesel gensets. With many public private partnership projects planned by the government of Kuwait, the market for rental diesel gensets is anticipated to grow at a substantial pace in the near future. The monthly rent for a genset generally encompasses various services including generator repairs, and filter and oil changes. Rental contracts are generally done on a monthly basis, and comprise numerous services, which trumps purchasing new generators owing to the convenience offered. Rental contracts significantly reduce the responsibilities of the contractor. For projects spanning durations well over five years, it might be justified to purchase a new genset upfront instead of renting. For government projects ranging between 15 to 20 years, the general preference is to purchase gensets rather than rent. Facilities such as large commercial complexes and hospitals purchase diesel gensets for backup power purposes.

The Kuwait diesel gensets market is also segmented on the basis of capacity as: 0–75 kVA, 75–500 kVA, 500–2000 kVA, and above 2000 kVA. The 0–75 kVA segment of diesel gensets is the most lucrative one in the new diesel gensets market for Kuwait, in terms of units installed. This category of diesel gensets is preferred by both renters as well as purchasers of new diesel gensets. The 0–75 kVA class of diesel gensets are also frequently used in commercial establishments such as malls, building complexes, and hospitals. The telecommunication industry is also a major consumer segment of this category of gensets. On the basis of revenue, the 500–2000 kVA class of diesel gensets is a major segment of the new diesel gensets market in Kuwait. The large petrochemical projects and port expansion projects to be constructed during the forecast period will further enhance investments in this class of diesel gensets. The rental market for diesel gensets in the over 2000 kVA category is non-existent. The over 2000 kVA market for diesel gensets in Kuwait exists only for new generator purchases. Large refineries complexes and other major establishments such as airports and commercial complexes are likely to be the primary consumers of this segment of diesel gensets.

The Kuwait diesel gensets market is majorly dominated by the top five market players operating in this industry. The market share of the major players such as Caterpillar, Inc., FG Wilson, and Cummins, Inc. is based on the performance of their regional distribution companies. Though the rental gensets market in Kuwait accounts for the major market share in terms of revenue, all the major players do not have rental divisions. The distribution companies that have rental divisions enjoy an additional advantage over their rivals. Rapid development of the infrastructure sector in Kuwait is also attracting many Chinese and Indian companies to focus on the Kuwait diesel gensets market.

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