Report Ocean recently published an extensive intelligence report titled “Bahrain Diesel Generator Market Report: Size, Share, Competitive Landscape, Technology, Latest Updates, and Forecasts to 2030.” This report provides a comprehensive analysis of the market at a micro-level, focusing on insurers, major market sectors, products, and distribution methods within the industry.
The competitive segment of the report offers a summary of key competitors, their financial conditions, recent developments, competitive analysis, and market advancements. This analysis enables market participants to effectively identify relevant opportunities by assessing the strengths and weaknesses of major competitors.
Insights into the Market Over the Forecast Period (from 2023 to 28), the Bahrain Diesel Generator market is anticipated to expand at a CAGR of approximately 9.06 percent.
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Different elements, for example, giving power supply at building destinations, private and business spaces, and others, have added to the market development. The country’s economy quickly recovered, and the resumption of construction projects contributed to an increase in demand for diesel generators in 2020 and 2021.
In addition, incentives such as tax breaks for business and individual income and capital gains, 100% foreign ownership of Bahraini companies and branch offices, and simple repatriation of funds have encouraged foreign investment. The non-oil sectors like tourism, manufacturing, healthcare, and the pharmaceutical industry saw a significant increase in demand for diesel power generation systems as a result of the surge in greenfield investment and FDI inflow.
The expansion of the country’s expatriate population and the rising number of leisure and business travelers have both been aided by private sector businesses’ efforts to develop non-oil industries. The population of Bahrain has increased from 1.501 million in 2017 to 1.75 million in 2022, as reported by CEIC Data. Due to the acceleration of commercial and residential building construction caused by population growth, there will be a significant demand for diesel generators during the forecast period to ensure an uninterrupted power supply.
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Driver of Market Dynamics’ Growth: Expansion of Bahrain’s Metal Manufacturing Plants to Drive Market Growth During the past, the country’s rapid expansion of Bahrain’s metal manufacturing plants-including those for aluminum, steel, and others-led to an increase in the demand for diesel generators as a back-up power source. This was done to boost the economy of the country and attract a variety of metal downstream projects from other nations. Besides, metal assembling organizations in Bahrain, like Aluminum Bahrain (Alba), Widespread Rolling (Unirol), and so forth., are expanding their manufacturing facility, which is expected to increase demand for diesel generators as a back-up source of power at these locations. For instance, Aluminium Bahrain (Alba) BSC expanded its metal manufacturing plant in the city of Askar in 2022 to produce an additional 1 million metric tons of aluminum.
As a result, the rising demand for diesel generators in the coming years would be made easier by the expansion of Bahrain’s metal manufacturing plants.
Opportunities for growth: Recent macroeconomic shocks, such as the COVID-19 pandemic and the decline in global oil prices, had a significant impact on the nation’s tourism industry. Burgeoning Investment in Tourism Projects to Increase Demand for Diesel Generators As a result, the Bahraini government announced the Economic Recovery Plan in 2021 to revive the tourism industry. This plan includes projects worth $30 billion for tourism infrastructure, such as the construction of five man-made islands. Large-scale construction of such projects would necessitate the use of diesel generators for the primary electricity requirements of construction equipment and staff housing.
Additionally, the Bahraini government’s desire to lessen its reliance on oil exports has prompted investments in infrastructure projects that would support the expansion of the country’s tourism industry. For instance, the government of Bahrain provided strong support for tourism and leisure activities in the country by investing more than USD10 billion in projects related to tourism infrastructure in 2022. These projects included new museums and hotels.
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In the years to come, demand for diesel generators for construction purposes will rise as the tourism industry grows. Due to the growing demand for a dependable power supply in hotels, resorts, and other facilities in the coming years, standby diesel generators are anticipated to see a significant increase in demand.
Key Pattern: Emerging Use of Diesel Generators in Energy Transmission Networks In recent years, Bahrain’s increased economic activity has led to an increase in the demand for electricity. As a result, the country’s streaming transmission and energy production have changed significantly. As per the Worldwide Energy Affiliation (IEA), the absolute energy supply by source from oil in Bahrain flooded from 88,879 Tera Joule (TJ) to 101,287 TJ between 2018-2020.
The country’s utilization of diesel generators for energy transmission has significantly improved as a result of the rising consumption of oil and natural gas for electricity generation. Transportation, hospitality, real estate, and other sectors are also expanding in the nation. as a result of the government’s efforts to boost the economy. As a result, in order to control the rising demand and provide a backup power source in industries, transportation, and other fields, the requirement for diesel generators would emphatically ascend before very long.
In addition, it is anticipated that the country’s population, economic growth, and industry expansion will all contribute to an even higher energy demand. As a result, between 2023 and 2028, the demand for standby diesel generators is expected to rise in order to meet the country’s rising energy demand and the expansion of transmission projects to increase energy production capacity.
Possible Limitation: Restricted Development Amazing open doors in the Country to Hinder the Market Development
The pay from oil and gas has been reliably cultivating the advancement of Bahrain. However, the country has been forced to seek financial assistance from its GCC partners due to fluctuations in global oil prices. Despite this, the non-hydrocarbon sector, particularly the manufacturing sector, has grown significantly in recent years.
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However, the country’s tourism industry and growth are heavily dependent on its neighbors in the region. Due primarily to the ease with which Bahrain adheres to strict Islamic regulations and its road connection to Saudi Arabia, the nation receives a significant number of visitors from Saudi Arabia. In addition, the tourism and hospitality industries in Bahrain are dependent on visitors from other continents and the region due to the country’s relatively small population in comparison to its neighbors.
As a result, the country’s tourism industry is seasonal, limiting the development of its commercial and hospitality infrastructure and the opportunities for diesel generator sales.
Market Segmentation by Type Standby Prime & Continuous Power Peak Shaving Of all the types, the Standby Generator market is thriving due to the growing energy and constant power supply requirements of end users, which have increased the demand for emergency power backup sources. In addition, commercial sectors like manufacturing, rental, telecommunications, government, and transportation make extensive use of diesel generators of this kind because any power supply disruption is unacceptable. Consequently, sales of Standby Diesel Generator models are anticipated to rise from 2023 to 2028 due to the rising demand for continuous standby power supply to various industries.
By End User Residential, Commercial, Healthcare, Government, Transportation, Oil & Gas, and Industrial Equipment Rental Companies The Commercial Sector has dominated the market historically, and it is anticipated that it will continue to do so throughout the forecast period. Retail complexes, co-working spaces, and other commercial establishments has grown in the country as a result of the government’s tax breaks for personal and business income and the favorable business environment. As a result, the country has seen an increase in the demand for diesel generators with capacities ranging from 75.1 kVA to 350 kVA and 350.1 kVA to 750 kVA, both of which have contributed to the demand for office space.
Recent Changes Made by the Leading Businesses in 2022: In the Middle East, Caterpillar introduced the Cat GC series, a new line of diesel generators with ratings ranging from 33kVA to 1500kVA. Additionally, low-sound attenuated solutions are available in the generator series.
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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