Posted On: 2021-05-10
375.1kVA - 750kVA rating diesel gensets acquired the largest revenue share in the diesel gensets market of Pakistan- 6Wresearch
Pakistan diesel genset market witnessed a moderate decline during the period 2017-2020 due to the global oil price crisis and the subsequent outbreak of the global COVID-19 pandemic in 2020, resulting in the halt of construction and developmental projects, business operations, and manufacturing units. It has further caused supply chain disruptions due to the closure of international borders and stringent lockdowns imposed in the country, increasing the supply-demand gap of the diesel gensets in the market. However, the market has started recovering in 2021 due to the gradual opening of international borders and restart of construction, manufacturing, and trade activities in the country
According to 6Wresearch, Pakistan Diesel Genset Market revenue size is projected to grow at a CAGR of 3.8% during 2021-2027F. Expanding the construction industry, growing automotive vertical, and spurring the growth of the industrial sector; along with rising efforts of the government towards increasing the rural telecom towers and electrification in the country, would provide huge opportunities for the growth of the diesel genset market in Pakistan during the forecast period. Global diesel gensets giants such as Caterpillar Inc, Cummins Inc, Yanmar Holdings Co. Ltd., among others, are working on several latest technologies for providing innovative power backup solutions. Thus, the increasing industrial and construction projects and government initiatives for improving commercial, automobile, manufacturing, and industrial sectors would bode well for the Pakistan diesel genset market.
According to Navneet Aggarwal, Research Analyst, 6Wresearch, "In terms of kVA ratings, 375.1kVA - 750kVA rating diesel gensets have emerged as a major market revenue shareholder in Pakistan diesel genset market in 2020, as they are affordable, convenient, and are the prime source of power for industrial and logistics applications. 375.1kVA - 750kVA rating diesel gensets usage is currently growing at a swift pace in Pakistan, especially across the manufacturing, logistics, construction, and industrial segments."
"Moreover, the Pakistan government initiatives such as Pakistan Vision 2025, Vision 2030, Digital policy of Pakistan, etc., seek to strengthen the manufacturing, logistics and industrial sector in the country, thereby creating ample opportunities for diesel genset market over the coming years." Navneet further added.
According to Bhawna Singh, Research Associate, 6Wresearch, "Among applications, commercial sector emerged as the dominant revenue share contributor in Pakistan diesel genset market for the year 2020. The segment is projected to lead the market during the forecast period and attributed to forthcoming developmental projects and government policies towards maximizing rural electrification in the country. An upsurge in household construction activities coupled with infrastructural developments in the commercial sector expanding base in the country would catalyze the growth of the diesel gensets market in Pakistan during the forecast period."
"Among regions, southern region acquired the largest revenue share in Pakistan diesel genset market in the year 2020, and this trend is likely to continue during the forecast period primarily because this region is Pakistan's biggest construction market and all major developments and projects are ongoing in this region due to the major area of CPEC route and ongoing industrial city projects like Allama Iqbal Industrial City in this region. Along with this, the population of this region is highest due to the presence of the most populated cities of Pakistan- Karachi, Lahore, Faisalabad, and Rawalpindi, which would further boost the demand for diesel gensets in this region in the forthcoming years." Bhawna further added.
Some of the major companies in Pakistan diesel genset market include Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Yanmar Holdings Co. Ltd., Aksa Power Generation, MTU Onsite Energy Corporation.
"Pakistan diesel genset Market (2021-2027F)" report provides an in-depth analysis with 25 figures and 7 tables, covered in 88 pages. The report estimates and forecasts the Pakistan diesel genset market by kVA ratings, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing 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.