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Report
Middle East & Africa Portable Generator Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The Middle East & African portable generator market is projected to register a CAGR of over 6% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, the market has reached pre-pandemic levels.
Key Highlights
Over the short term, rising power outages caused by grid failure and natural calamities are expected to drive the market studied.
On the other hand, fluctuating crude oil and natural gas prices are expected to hamper the growth of the portable generator market in the region during the forecast period.
The increasing utilization of biogas and biofuel in a portable generator is likely to create lucrative growth opportunities for the Middle East & African portable generator market during the forecast period.
Nigeria is expected to dominate the market due to its large population. Increasing electricity demand and a higher number of power outages are also expected to propel the need for portable generators in the country during the forecast period.
MEA Portable Generator Market Trends
Diesel is Expected to Dominate the Market
Diesel generators use diesel as a fuel to power the engine. Diesel generators are the most important, reliable, and least expensive equipment for power generation. These generators can serve as a primary power source, a reliable secondary power source, and a backup or standby power source for residential, industrial, and commercial customers across the Middle East & African region. ?
Though diesel is costlier compared to gas, it has a higher energy density, and more energy can be extracted from the same amount of fuel. Diesel is also less flammable than gas and other fuels, making it safer to store and handle.
Diesel generators are more economical compared to gas generator sets. Due to the ease of transportation and storage of diesel, easy on-site fuel availability has also made diesel generators more popular than gas generators.?
Diesel portable generators are primarily used as a standby power source by consumers. When there is a lack of power, diesel generators can provide adequate backup power. The residential sector is highly dependent on power supply from portable generators. ?
The shortage of power supply results in downtime for business operations, which can be a significant loss. These portable generators can maintain a steady power supply and ensure smooth business operations. The diesel generators are beneficial in terms of cost-effectiveness, fuel availability, and running, making them the most sought-after choice as a standby power source.?
Oil consumption in the Middle East increased by 3.9% in 2021. In the same year, oil consumption was 8,640 thousand barrels per day compared to 2020, i.e., 8,318 thousand barrels per day. Oil consumption in Africa also increased by 8.7% in 2021.
Due to such advantages, the demand for portable diesel generators is expected to be higher during the forecast period.
Nigeria is Expected to Dominate the Market
Nigeria is one of the biggest economies in Africa, with a GDP of approximately USD 440.78 billion recorded in 2021. However, the country's power sector is performing below the level of its neighboring countries. As of 2021, around 40% of the population had no access to grid-connected electricity, and those connected to the grid suffered extensive power outages.
In 2021, the country had an installed capacity of 16,384 MW. Due to outdated infrastructure and frequent power grid failures, the national grid only provides 4,000 MW at peak, leaving businesses and citizens heavily reliant on diesel and petrol-powered generators.
According to the Energy Commission of Nigeria, the country spends approximately USD 22 billion annually on fuel generators. According to the World Bank, more than 70% of Nigerian firms rely on generators for their electricity.
According to Nigeria's Rural Electrification Agency (REA), Nigerians spend an estimated USD 14 billion annually on small-scale diesel generators due to the lack of reliable power from the national grid.
The already critical energy situation in Nigeria has entered a state of desperation due to the disruptive economic effects of the Russia-Ukraine conflict, which led to an increase in energy prices globally.
Thus, due to poor infrastructure and lower investment in grid development, the demand for portable generators is expected to rise in the country in the future.
MEA Portable Generator Market Competitor Analysis
The Middle East & African portable generator market is moderately fragmented. Some of the major players in the market (in no particular order) include Atlas Copco AB, Honda, Yamaha Motor Co. Ltd, Generac Holdings Inc., and Kohler Power Systems.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Gas
5.1.2 Diesel
5.1.3 Other Fuel Types
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
5.3.1 Saudi Arabia
5.3.2 United Arab Emirates
5.3.3 South Africa
5.3.4 Nigeria
5.3.5 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Atlas Copco AB
6.3.2 Doosan Portable Power
6.3.3 Yamaha Motor Co. Ltd
6.3.4 Generac Holdings Inc.
6.3.5 Kohler Power Systems
6.3.6 Caterpillar Inc.
6.3.7 Briggs & Stratton Corporation
6.3.8 Wacker Neuson SE
6.3.9 Eaton Corporation PLC
6.3.10 Cummins Inc.
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