Dublin, Sept. 24, 2021 (GLOBE NEWSWIRE) -- The "Africa Diesel Generator Market Size, Share & Trends Analysis Report 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The Africa diesel generator market size is expected to reach USD 8.36 billion by 2028. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028.
The rise in demand for these products is being witnessed with the easing of lockdown restrictions in countries in Africa, which will increase the demand for diesel generators from this power range over the forecast period.
Above 3,000 kVA diesel generators are mainly utilized by large-scale industries involved in metal production, food and beverages, mining, and automobile manufacturing. Major vendors such as Mitsubishi Heavy Industries, Ltd. and Caterpillar provide diesel generators in this power rating range which are capable of providing emergency power supply and continuous power supply in case of unexpected power outages.
The banking sector came under the essential category during the pandemic, which resulted in the normal operation of banks in countries of the African region. However, construction of new banks and renovation in existing banks was on hold in the majority of the countries owing to restrictions on construction activities during the pandemic and fund diversion by banks to financially sustain the pandemic.
Diesel generators in tourism sectors are utilized in hotels and resorts. Diesel generators are majorly utilized for providing backup power supply in case of short or longer-duration power outages. However, diesel generators also account to be a source of continuous power supply in tourist places which has no access to grid power. Hotel owners generally opt for diesel generators over other backup power supply options owing to low capital cost and easy availability of diesel.
However, the COVID-19 pandemic has resulted in a reduction in demand from this power range due to the closure of automobile manufacturing, mining, and construction activities as per the mandate of lockdown imposed in various countries.
The rise in demand for medical equipment such as ventilators and necessary medicines has resulted in high demand for diesel generators from the pharmaceutical and medical equipment manufacturing industries.
Additionally, the lifting of lockdown in various countries has resulted in starting of industrial activities which are expected to boost the growth of this power segment over the forecast period.
Africa Diesel Generator Market Report Highlights
- In terms of revenue, the up to 100 KVA segment accounted for a prominent share in the market in 2020 and is expected to witness significant growth over the forecast period
- The up to 100 KVA power rating segment dominated the market and accounted for more than 57.50% of the revenue share in 2020
- In 2020, South Africa accounted for more than 16% revenue share in the overall market. The government is taking various structural reforms to facilitate growth in the country over the forecast period
- An increase in urbanization in the country has driven water management and demand for housing projects in Algeria. Further, the government has set a goal to build around 55 new dams in the country by 2030 for achieving a water storage capacity of around 12 billion cubic meters
Companies Mentioned
- Caterpillar
- Cummins Inc
- Atlas Copco AB
- AKSA power generation
- Kohler Co
- HIMOINSA
- Wartsila
- Kirloskar Oil Engines Ltd.
- Mitsubishi Heavy Industry
For more information about this report visit https://www.researchandmarkets.com/r/8wnm0q
