Bangladesh Diesel Genset Market report thoroughly covers the market by kVA ratings, applications, and regions. The 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.
Bangladesh Diesel Genset Market Synopsis
Bangladesh Diesel Genset Market would escalate over the coming years on account of rising demand for a continuous and reliable source of power, increasing power outages, thereby leading to the rising need for power backup solutions. Additionally, the rising demand for electricity in Bangladesh in line with the infrastructural growth in the country would positively influence the diesel Genset market growth. Projected growth in the construction market, upcoming new hotels and shopping malls on the back of increased inflow of FDI in the retail sector, coupled with increasing government spending on infrastructural development projects would drive the diesel Genset market in the country over the forthcoming period.
However, the market witnessed a slowdown during 2020 as a result nationwide lockdown due to the spread of COVID-19 pandemic. Over the coming years, it is expected that Bangladesh genset market would grow owing to the increase in investment in the key sectors such as transportation infrastructure, commercial (IT/ITES, data centres, hotels, malls, hospitals, educational institutions) & power applications. Additionally, existing considerable power deficits, unreliable and uneconomical power supplies from the grid and rising trend of adoption of power backup solutions such as diesel gensets to ensure uninterrupted power supply is anticipated to positively impact the demand for the product during the forecast period.
According to 6Wresearch, Bangladesh Diesel Genset Market size is projected to grow at CAGR of 9.9% during 2021-27. Diesel gensets find its applications in various sectors such as industrial, commercial, and residential, however, on account of the global coronavirus pandemic, the government decided to shut all the major operations in many sectors to curb the spread of the virus thereby restraining the diesel Genset market growth during the first three quarters of 2020. However, the upcoming construction projects such as Rooppur Nuclear Power Plant, Padma Bridge among many others require an uninterrupted power supply which would bolster the demand for diesel gensets in the country over the coming period. Further, as per the Dhaka Chamber of Commerce and Industry, Bangladesh would need to invest approximately $25 billion annually through 2030 in order to meet the country’s growing infrastructural needs. This in turn, would back the demand for diesel gensets in order to serve the additional auxiliary power demand created.
Market Analysis by kVA Rating
Further, based on kVA Rating, up to 100kVA, 100.1kVA to 350kVA and 350.1kVA to 1000kVA account for a cumulative market share of around 70% in the total market revenues in 2020. The market revenues were dominated by up to 100 kVA gensets in the year 2020, primarily due to the usage of such gensets in homes, small societies, shops and local offices on account of low electrification rates. Additionally, the market for low capacity gensets is anticipated to emerge as key growing segment on account rapid expansion pace of urbanization and growing use of genset by small shops. ? Furthermore, the diesel gensets with the rating of 100.1kVA to 350kVA are also anticipated to register significant growth over the coming years on account of rapid government investments in the industrial sector through public private partnerships. The industrial processes such as power plants, oil and gas plants require uninterrupted power supply, thereby, creating numerous prospects for the diesel genset market in the country over the forthcoming period.
Market Analysis by Application
Based on applications, the industrial vertical emerged as the dominating segment, in revenue terms, in 2020. On account of widespread usage of gensets in factories and manufacturing plants. Power generation and oil & gas industries are the major users of diesel generators in the industrial segment. As these processes are critical, they are generally backed by secondary power sources such as diesel gen-sets, to provide power in case of outages and to cater to additional load/power requirements.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Historical data of Bangladesh Diesel Genset Market Revenues and Volume for the Period 2017-2020
- Market Size & Forecast of Bangladesh Diesel Genset Market Revenues and Volume until 2027
- Historical data of Bangladesh Diesel Genset Market Revenues and Volume, By kVA Rating for the Period 2017-2020
- Market Size & Forecast of Bangladesh Diesel Genset Market Revenues and Volume. By kVA Rating until 2027
- Historical data of Bangladesh Diesel Genset Market Revenues and Volume, By Applications for the Period 2017-2020
- Market Size & Forecast of Bangladesh Diesel Genset Market Revenues and Volume. By Applications until 2027
- Historical data of Bangladesh Diesel Genset Market Revenues, By Regions for the Period 2017-2020
- Market Size & Forecast of Bangladesh Diesel Genset Market Revenues, By Regions until 2027
- Bangladesh Diesel Genset Market Drivers and Restraints
- Bangladesh Diesel Genset Market Trends
- Bangladesh Diesel Genset Market Industry Life Cycle
- Bangladesh Diesel Genset Market Porter’s Five Force Analysis
- Bangladesh Diesel Genset Market Opportunity Assessment
- Bangladesh Diesel Genset Market Player’s Revenue Shares
- Bangladesh Diesel Genset Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By kVA rating
- Up to 100kVA
- 100.1 to 350kVA
- 350.1 to 1000kVa
- Above 1000kVA
By Applications
- Residential
- Commercial
- Industrial
- Healthcare
- Hospitality
- Public Infrastructure & Others (Transportation and Power Utilities)
By Regions
- Northern
- Southern
