Ghana Diesel Genset Market (2024-2030) | Trends, Analysis, Value, Industry, Size, Forecast, Share, Outlook, Growth, Companies & Revenue

Topics Covered in the Ghana Diesel Genset Market

Ghana Diesel Genset Market report thoroughly covers the market by KVA rating and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Ghana Diesel Genset Market Synopsis

Ghana Diesel Genset Market is projected to grow in the future due to rapid economic growth in recent years and it has led to an increase in demand for electricity. Ghana's power supply is largely from hydro and thermal sources, with diesel generators being a popular choice for backup power. The diesel genset market in Ghana has been expanding, with different drivers and challenges. The country has witnessed a strong demand for electricity in recent years. However, frequent power cuts and inadequate power supply have become a significant challenge for the country, causing significant disruptions to businesses and homes. As a result, the Ghanaian government has been investing in various initiatives to increase power generation capacity, including the use of diesel gensets.

According to 6Wresearch, the Ghana Diesel Genset Market size is projected to grow at the CAGR of 5.91 % during the forecast period of 2024-2030. The demand for electricity in Ghana has increased due to modernization and urbanization. As businesses grow, they require stable power supply and backup generators to keep their operations running even when power outages occur. The increased demand for stable power supply has led to the growth of the diesel genset market in the country. Ghana's national grid infrastructure is insufficient to cater to the energy needs of the country. Despite efforts by the government to improve power generation and distribution, there are still challenges that hamper smooth operations of the grid. Diesel generators are widely used as an alternative to grid power supply, especially in remote areas where grid connection is either not available or unreliable. There are certain challenges present in the market. Purchasing and installing diesel gensets can be quite expensive. The high initial cost of acquisition and installation of gensets make it difficult for small businesses to afford them. Additionally, given the operating cost of diesel gensets, such as the cost of fuel, maintenance, and repairs, the total cost of ownership over the years can be substantial, making ownership not practical for everyone. Diesel generators are known to be major polluters of the environment. The diesel fuel used in generators produces air pollutants, including nitrogen oxide, sulphur oxide, and PM2.5 particulate matter. The environmental impact of diesel used in gensets has raised concerns about the safety of their usage, with many environmentalists pushing for renewable energy alternatives and thus factor has significantly led to decrease in Ghana Diesel Genset Market Share.

Government policies and schemes introduced in the Ghana Diesel Genset Market

The government of Ghana has made significant efforts to improve the country's energy sector, with initiatives that aim to modernize the sector and make it more efficient leading to Ghana Diesel Genset Market Growth. Some of the critical government initiatives include the Energy Commission Act, which helps regulate the energy sector and promote renewable energy. The government also launched the National Electrification Scheme, which aims to provide electricity to all rural communities in the country by 2030. To address some of the challenges affecting the diesel genset market in Ghana, the government has implemented various initiatives. One such initiative is the National Electrification Scheme, which aims to improve access to electricity across the country by providing subsidy for off-grid electrification projects. Additionally, the government has created policies and incentives that promote the use of renewable energy sources like wind, solar, and hydropower, which could, in the long run, help reduce the country's dependence on diesel generators.

Leading players in the Ghana Diesel Genset Market

The Ghana Diesel Genset Industry has attracted numerous players, with both local and international players operating in the market. Some of the key players in the market include Cummins, Caterpillar, Perkins, and Mahindra Powerol. Local companies also play a significant role in the industry, with notable players including BMEG, Ghana Agrotrac, JCB, and Teksan.

Market analysis by KVA Ratings

The Diesel genset market in Ghana is segmented based on kVA rating starting from 5 kVA to above 1000 kVA. The 75.1 kVA – 375 kVA segment is expected to grow the most and this growth can be attributed to the use of 75.1 kVA to 375 kVA generators in commercial and industrial sectors, where continuous power is required to run factories, hospitals, banks, hotels, and offices.

Market analysis By Applications

According to Ravi Bhandari, Research Head, 6Wresearch, the commercial sector is expected to drive the highest demand for diesel gensets in Ghana in the forecast year. The Ghanaian government has been focusing on extensive infrastructure development, such as expanding the road network, tourism, and building new shopping centers. These activities have led to a surge in demand for commercial space, including hotels, shopping centers, and restaurants

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Ghana Diesel Genset Market Outlook
• Market Size of Ghana Diesel Genset Market, 2023
• Forecast of Ghana Diesel Genset Market, 2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues & Volume for the Period 2020 - 2030
• Ghana Diesel Genset Market Trend Evolution
• Ghana Diesel Genset Market Drivers and Challenges
• Ghana Diesel Genset Market Price Trends
• Ghana Diesel Genset Market Porter's Five Forces
• Ghana Diesel Genset Market Industry Life Cycle
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by KVA ratings for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and Volume by 5 - 75 KVA for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by 75.1 - 375 KVA for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by 375.1 - 750 KVA for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by 750.1 - 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Above 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Application for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Residential for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Commercial for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Industrial for the Period 2020-2030
• Historical Data and Forecast of Ghana Diesel Genset Market Revenues and volume by Transportation and public Infrastructure for the Period 2020-2030
• Ghana Diesel Genset Market Import Export Trade Statistics
• Market Opportunity Assessment by KVA ratings
• Market Opportunity Assessment by Application
• Ghana Diesel Genset Market Top Companies Market Share
• Ghana Diesel Genset Market Competitive Benchmarking by Technical and Operational Parameters
• Ghana Diesel Genset Market Company Profiles
• Ghana Diesel Genset Market Key Strategic Recommendation

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By kVA Rating

• 5 kVA - 75 kVA
• 75.1 kVA – 375 kVA
• 375.1 kVA - 750 kVA
• 750.1 KVA-1000 KVA
•  Above 1000 KVA

By Applications

• Residential
• Commercial
• Industrial
• Transportation & public Infrastructure

Frequently Asked Questions About the Market Study (FAQs):