Posted On: 2022-02-01
75.1 kVA-375 kVA acquired the largest market revenue share in the Angola diesel genset market – 6Wresearch
The rising construction activities, expansion of public infrastructure, upcoming government policies to support the formation of new industries, increasing commercial spaces and growing need to provide power in off-grid and remote areas are few of the key factors that would boost the diesel genset market growth in Angola in the coming years. Due to the of the outbreak of the COVID-19 pandemic in early 2020, the demand for diesel genset in the Angola underwent a phase of decline owing to the government-imposed restrictions on various economic activities to curtail the virus spread resulting in closing of several construction sites and buildings along with restrictions in the movement of people, thus, impacting the overall diesel genset market revenues. However, due to upcoming projects and infrastructural development projects including transportation sector projects, commercial space development projects and construction for retail sectors, the investment activities in manufacturing and industrial sector have increased in the country, which in turn, would bode well for the growth of the diesel genset market in Angola in the upcoming years.
According to 6Wresearch, Angola Diesel Genset Market size is projected to grow at CAGR of 5.2% during 2021-2027. Government is majorly focused on the economic development of the country on account of which government focuses on overall industrial growth, transportation development and integrated economic growth in the oil and non-oil sectors, which would lead to a substantial growth of the Angola diesel genset market over the coming years. Additionally, government development plans coupled with the rising foreign direct investment and increasing contribution of commercial sector towards urban transformation are the main factors that would drive the diesel genset market within the nation.
According to Navneet Aggarwal, Manager, 6Wresearch, “By kVA Ratings, 75.1 kVA-375 kVA segment garnered the majority share in revenue for the year 2020 on account of the maximum usage of the above-mentioned segment in the retail and SMEs where demand of power is moderate. Similarly, 75.1 kVA-375 kVA would maintain its dominance in the forecast period.”
According to Srajan Yadav, Research Analyst, 6Wresearch, “By application, industrial sector has garnered the major market revenue shares in the overall Angola diesel genset market for the year 2020. The same trend is expected in the years to come on account of the growth in the sector with upcoming projects in oil & gas, refinery, mega agro-industrial sectors, etc., where reliable power supply is crucial, thereby driving the demand for diesel genset market in the region. The spread of coronavirus has impacted the industrial, commercial, transportation, residential sector among others, to a considerable extent, leading to the economic slowdown, which in turn have affected the demand for diesel genset market in the entire country in 2020. However, as mentioned earlier, the market would take its place in 2021 due to the resume of various industrial and development projects.”
“Angola diesel genset market (2021-2027)” report provides an in-depth analysis with 12 figures and 03 tables, covered in 64 pages. The report estimates and forecast the overall Angola diesel genset market by kVA Ratings and applications. The report provides an unbiased and detailed analysis of the on-going 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.