CAT, FG Wilson, Himoinsa, MTU, Cummins, Atlas Copco and Kirloskar are the major players in genset market. Closed type gensets have high demand owing to its benefits and government regulations. It is expected demand for closed type genset will further increase in the future.
The market is segmented by type of gensets, by power rating, by end user, by rental or direct sales. Various marketing analysis factors such as trends and developments, regulatory framework and Porter’s five forces analysis are also added in the study for clear understanding about the factors responsible for present scenario of the market. The future analysis of genset market has also been discussed along with recommendations from analyst view.
Development of mega factories, skyscrapers, commercial offices and transportation system has led to increase in the demand of the gensets. Other factors such as increase in number of schools, hospitals and small and medium business are other major factors of growth in genset market. It has been forecasted that 25 million international visitors will visit Dubai to attend the upcoming world expo 2020 and to meet this requirement huge investments in infrastructural development will take place leading to double digit growth for the genset market in the county. Moreover, it is expected that number of hospitals, schools and residence will increase in the future which will further increase the demand of the genset in coming years.
Numbers of SMB’s have surged over the past five years. SMB’s sector has expanded at a rapid pace over the period 2013-2019 and their contribution to the GDP has also amplified. Number of SMB’s has posted a CAGR of 30.6% over the period 2013-2019. The genset market of the country has been significantly aided by such growth in the number of SMB’s over the past five years. It is expected that this market will further increase in the future and will have a positive impact on the genset market as SMB’s generates high demand for gensets for power back up.
“In order to enter this market, a new player needs to focus on the rental genset market and can penetrate through online market which has untapped potential in it. Furthermore, new players need to focus on its distribution network so that it can compete with well established players with large distribution network.