DUBLIN--(BUSINESS WIRE )--The "Bangladesh Diesel Genset Market (2021-2027): Market Forecast by KVA Rating, by Applications, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Bangladesh Diesel Genset Market size is projected to grow at a CAGR of 9.9% during 2021-27.
The Bangladesh diesel genset market would escalate over the coming years on account of rising demand for a continuous and reliable source of power, increasing power outages, thereby leading to the rising need for power backup solutions. Additionally, the rising demand for electricity in Bangladesh in line with the infrastructural growth in the country would positively influence the diesel Genset market growth.
Projected growth in the construction market, upcoming new hotels and shopping malls on the back of increased inflow of FDI in the retail sector, coupled with increasing government spending on infrastructural development projects would drive the diesel Genset market in the country over the forthcoming period.
Diesel gensets find their applications in various sectors such as industrial, commercial, and residential, however, on account of the global coronavirus pandemic, the government decided to shut all the major operations in many sectors to curb the spread of the virus thereby restraining the diesel Genset market growth during the first three quarters of 2020.
However, the upcoming construction projects such as Rooppur Nuclear Power Plant, Padma Bridge among many others require an uninterrupted power supply which would bolster the demand for diesel gensets in the country over the coming period.
Further, as per the Dhaka Chamber of Commerce and Industry, Bangladesh would need to invest approximately $25 billion annually through 2030 in order to meet the country's growing infrastructural needs. This, in turn, would back the demand for diesel gensets in order to serve the additional auxiliary power demand created.
Based on applications, the industrial vertical emerged as the dominating segment, in revenue terms, in 2020 on account of widespread usage of gensets in factories and manufacturing plants. Power generation and oil & gas industries are the major users of diesel generators in the industrial segment. As these processes are critical, they are generally backed by secondary power sources such as diesel gen-sets, to provide power in case of outages and to cater to additional load/power requirements.
Bangladesh Diesel Genset market report thoroughly covers the market by kVA ratings, applications, and regions. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
For more information about this report visit https://www.researchandmarkets.com/r/6qlb1e
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900