Market Forecast By KVA (5 - 75 KVA, 75.1 - 375 KVA, 375.1 - 750 KVA, 750.1 - 1000 KVA, Above 1000 KVA), By Application (Residential, Commercial , Industrial, Transportation & Public Infrastructure) And Competitive Landscape
Product Code: ETC090030 | Publication Date: Dec 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 4 | |
Sri Lanka 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.
Sri Lanka Diesel Genset (Generator) Market is projected to grow in the forecast year as the demand for energy continues to increase every year due to population growth, urbanization, and economic development. The country has a diverse mix of energy resources, including hydro, coal, and natural gas. But these energy sources alone cannot always meet the demand. Sri Lanka's diesel genset market has been growing steadily in recent years due to the high demand for reliable and efficient power solutions. The rise in urbanization, industrialization, and population growth has led to more demand for power. The increasing power outages in the country due to aging infrastructure are also a significant driving factor.
According to 6Wresearch, the Sri Lanka Diesel Genset (Generator) Market size is projected to grow at a CAGR OF 4.91 % during the forecast period of 2024-2030. The main drivers of the diesel genset market in Sri Lanka are the unreliable power supply from the grid, the increasing demand for power, and the rise in industrialization. The need for fuel-efficient diesel gensets has also increased, especially in remote and off-grid areas. The new government policies on renewable energy implementation have also boosted the demand for diesel gensets as a backup power solution. The rise in e-commerce and online service providers has also led to an increased demand for stable and uninterrupted power supply. Sri Lanka's rapidly growing economy and infrastructure development have led to a surge in demand for reliable power solutions, with electricity access still a challenge in some rural areas. Thus, the diesel genset market has emerged as a significant player in Sri Lanka's energy landscape, providing essential backup power for households and businesses. The diesel genset market in Sri Lanka faces several challenges. Firstly, the high cost of diesel fuel reduces the affordability of diesel gensets for low-income households and rural businesses. Secondly, the availability of counterfeit gensets in the market has led to a decline in demand for premium quality gensets. Thirdly, the lack of regulations and standards for the importation of diesel gensets has led to a proliferation of substandard and low-quality gensets that pose a safety hazard and are more prone to breakdowns and these factors have led to decline in Sri Lanka Diesel Genset Market Share.
The government of Sri Lanka has taken various initiatives to promote renewable energy, reduce the dependency on diesel gensets, and reduce carbon emissions in the country. The Ministry of Power and Renewable Energy is encouraging the installation of rooftop solar panels for households. The government has also launched the "Surya Bala Sangramaya" initiative to install one million rooftop solar panels within five years. The recent budget announced a reduction of import taxes on electric vehicles to encourage the adoption of cleaner vehicles.
Some of the key players in the Sri Lanka diesel genset Industry include Cummins India, Caterpillar Inc., Mahindra and Mahindra, Yamaha Motor Co., Ltd., and GAC Group. These companies specialize in producing and supplying diesel gensets to various sectors, such as residential, commercial, and industrial.
The diesel genset market can be segmented based on KVA rating into various categories. The segment that is expected to grow the most is the 75.1 - 375 KVA range due to its versatility across various applications such as commercial, industrial, and residential.
The commercial sector is expected to grow the most in the Diesel Genset (Generator) Market in Sri Lanka. The growth is mainly due to the increase in small and medium-sized businesses and industries in the country. These businesses require a reliable power supply to keep their operations running, making diesel gensets a suitable option.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Sri Lanka Diesel Genset Market Overview |
3.1 Sri Lanka Country Macro Economic Indicators |
3.2 Sri Lanka Diesel Genset Market Revenues & Volume, 2020 & 2030F |
3.3 Sri Lanka Diesel Genset Market- Industry Life Cycle |
3.4 Sri Lanka Diesel Genset Market- Porter's Five Forces |
3.5 Sri Lanka Diesel Genset Market Revenues & Volume Share, By KVA rating , 2020 & 2030F |
3.6 Sri Lanka Diesel Genset Market Revenues & Volume Share, By Application 2020 & 2030F |
4 Sri Lanka Diesel Genset Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Sri Lanka Diesel Genset Market Trends |
6. Sri Lanka Diesel Genset Market, By KVA Ratings |
6.1 Sri Lanka Diesel Genset Market Revenues & Volume, By 5 KVA-75 KVA 2020 - 2030F |
6.2 Sri Lanka Diesel Genset Market Revenues & Volume, By 75.1 KVA-375 KVA, 2020- 2030F |
6.3 Sri Lanka Diesel Genset Market Revenues & Volume, By 375.1 KVA-750 KVA, 2020- 2030F |
6.3 Sri Lanka Diesel Genset Market Revenues & Volume, By 750.1 KVA-1000 KVA , 2020- 2030F |
6.3 Sri Lanka Diesel Genset Market Revenues & Volume, By Above 1000 KVA, 2020- 2030F |
7 Sri Lanka Diesel Genset Market, By Application |
7.1 Sri Lanka Diesel Genset Market Revenues & Volume, By Residential, 2020 - 2030F |
7.2 Sri Lanka Diesel Genset Market Revenues & Volume, By Commercial, 2020 - 2030F |
7.3 Sri Lanka Diesel Genset Market Revenues & Volume, By Industrial, 2020 - 2030F |
7.3 Sri Lanka Diesel Genset Market Revenues & Volume, By Transportation & public Infrastructure 2020 - 2030F |
8 Sri Lanka Diesel Genset Market Import-Export Trade Statistics |
8.1 Sri Lanka Diesel Genset Market Export to Major Countries |
8.2 Sri Lanka Diesel Genset Market Imports from Major Countries |
9 Sri Lanka Diesel Genset Market Key Performance Indicators |
10 Sri Lanka Diesel Genset Market- Opportunity Assessment |
10.1 Sri Lanka Diesel Genset Market Opportunity Assessment, By KVA rating , 2030 |
10.2 Sri Lanka Diesel Genset Market Opportunity Assessment, By Application, 2030 |
11 Sri Lanka Diesel Genset Market- Competitive Landscape |
11.1 Sri Lanka Diesel Genset Market Revenue Share, By Companies, 2023 |
11.2 Sri Lanka Diesel Genset Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |
Market Forecast By KVA (5 - 75 KVA, 75.1 - 375 KVA, 375.1 - 750 KVA, 750.1 - 1000 KVA, Above 1000 KVA), By Application (Residential, Commercial , Industrial, Transportation & Public Infrastructure) And Competitive Landscape
Product Code: ETC090030 | Publication Date: Aug 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
In the year 2021, China was the largest exporter in terms of value, followed by Bangladesh. It has registered a growth of 45.52% over the previous year. While Bangladesh registered a growth of 1379.3% as compare to the previous year. In the year 2017 China was the largest exporter followed by UK. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Sri Lanka has the Herfindahl index of 2938 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 1411 which signifies high competitiveness in the market.
Sri Lanka Diesel Genset (Generator) Market is projected to grow over the coming year. Sri Lanka Diesel Genset (Generator) Market report is a part of our periodical regional publication Asia Pacific Diesel Genset (Generator) Market outlook report. 6W tracks diesel genset market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Diesel Genset (Generator) Market outlook report annually.
Sri Lanka Diesel Genset Market decline by -1.8% in 2017- 2020 and is expected to grow at a CAGR of 3% during 2021- 2027. Sri Lanka occupies 16th position in terms of the market size in the APAC Diesel Genset Market.
In terms of market by kVA ratings, 375.1KVA-750KVA dominates the market and is expected to remain in a dominant position in the coming years with the fastest growth rate among all ratings.
In terms of application, Commercial dominates the market and is expected to remain in a dominant position in the coming years with the fastest growth rate among all applications.
Sri Lanka Diesel Genset Market report comprehensively covers the market by kVA ratings, applications, and regions. The Sri Lanka Diesel Genset Market outlook report provides an unbiased analysis of the ongoing Sri Lanka Diesel Genset 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.