(MENAFN- Market Press) Strengthening of the Manufacturing Industry Along with Growing Commercial Sector Would Boost the Demand for Diesel Gensets in Cambodia - 6Wresearch
Increasing number of manufacturing units, setting up of new special economic zones along with development of small and medium enterprises in the country would spur the demand for diesel gensets in Cambodia over the coming years. Additionally, the government is focusing on using diesel genset as an auxiliary source of power at times of power cuts, especially in the manufacturing and the residential sectors, which would help to sustain the demand for diesel gensets in Cambodia during the forecast period.
According to 6Wresearch, Cambodia Diesel Genset market revenues are projected to grow at a CAGR of 3.2% during 2018-24. An erratic power supply along with the high prices of electricity in Cambodia are keeping the demand afloat for diesel gensets as a backup power option. Additionally, growing number of manufacturing units in Cambodia has further escalated the demand for continuous power supply in the industrial segment. Further, developing commercial and retail sectors of the country are also fueling the growth of diesel gensets in the country.
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According to Priya Sharma, Research Analyst, Research and Consulting, 6Wresearch, "Diesel gensets in the 750 - 1,000kVA power range would account for the highest market revenue share in the overall diesel genset market during the forecast period on account of increasing power demand from the manufacturing and transportation sectors of the country."
"Development of large-scale infrastructure projects such as the New Siem Reap International Airport and linking of rail line from Phnom Penh to Ho Chi Minh City, would generate significant demand for higher rating diesel gensets in the transportation domain,"Priya further added.
According to Harshit, Research Associate, Research and Consulting, 6Wresearch, "The Southern Region of Cambodia would remain the largest shareholder in the overall diesel genset market in Cambodia. Phnom Penh, the capital city of Cambodia, houses over 90% of the total ongoing projects in the country. Additionally, upcoming commercial and industrial projects in Phnom Penh and Sihanoukville cities would further act as a catalyst for the diesel genset market in near future."
"The growth in the textiles and apparel industry of the country would support the rising demand for diesel gensets in the manufacturing facilities of the country. The growing demand for continuous power supply from critical areas such as hospitals and data centers would also support the growth of Cambodian diesel genset market,"Harshit further said.
Some of the major companies in the Cambodia Diesel Genset Market include Mitsubishi Heavy Industries Engine System Asia, Caterpillar, FG Wilson Asia, Cummins, MTU Asia and Deutz Asia-Pacific.
"Cambodia Diesel Genset Market (2018-2024)" provides an in-depth analysis with 50 figures and 9 tables covered in 109 pages. The report estimates and forecast the overall Cambodia Diesel Genset Market by kVA rating, regions and applications such as residential, commercial, manufacturing and others. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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