BAKU, Azerbaijan, Nov.13
By Leman Zeynalova – Trend:
The Azerbaijan diesel genset market is projected to grow at a Compound annual growth rate (CAGR) of 4.1 percent during 2019-2025, Trend reports citing Research And Markets.
The report says that oil and gas industry in Azerbaijan is rising rapidly owing to several major projects in the pipeline such as modernization of Baku oil refinery, SOCAR GPC, and Karabakh oil fields.
“Moreover, rising investment, growing travel and tourism sector and government emphasis on the development of new luxury and budget hotels would further spur the market for diesel gensets in the hospitality domain in the country,” said Research And Markets.
Diesel gensets with a rating below 60 kVA acquired the maximum volume share in the overall diesel genset market of the region on account of the widespread deployment of such gensets across the commercial and industrial domains, according to the report.
“Increasing investment by the government to improve the road infrastructure of the country would further increase the demand for diesel gensets in the construction domain.
The strengthening of the oil and gas sector in the country would further lead to the development of industrial establishments in Azerbaijan. By regions, Eastern Azerbaijan registered the majority of the revenue share owing to the concentration of industries and commercial establishments in the capital Baku which lies in the Eastern part of the country,” said Research And Markets.
Some of the key players in the Azerbaijan Diesel Genset Market are - AKSA, Teksan, Caterpillar, Cummins and other Chinese and Turkish brands, reads the report.
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