KUWAIT CITY: A new publication, added by Transparency Market Research (TMR) to its repository, provides a comprehensive analysis of the diesel gensets market in Kuwait, stating that the industry is expected to have a booming future in this region.According to this market study, titled “Kuwait Diesel Gensets Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2023”, in 2013, the Kuwait diesel gensets market stood at US$49.1 million.
It is expected that this market will register growth at a CAGR of 5.0% during the period of 2014 to 2023 and will reach US$79.7 million by the end of the forecast period.The construction industry in Kuwait is thriving, with a series of new projects set to be completed in the near future. However, this region has faced major problems of power supply shortage in recent times. Consequently, the demand for diesel gensets is expected to rise in the coming years as diesel gensets, apart from being a steady source of standby power, are also utilized for continuous power supply in large construction projects. On the other hand, the added power generation capacity and increased deployment of renewable energy in this region is likely to curb the dependency on diesel-fueled power solutions limiting the market for diesel gensets in Kuwait.
