A DG set is also called a diesel generator set or diesel generator set. It is composed of a diesel engine and an electric generator, designed to generate electrical energy. DG sets are mainly used where electrical connections are not available to facilitate connection to the electrical network. It can also be used as an emergency power supply, which makes it vital for developing countries. Thus, in 2021, the Ghanaian diesel generator market is valued at USD 54,572.6 thousand, from where it is expected to grow at a rate of 2.3% from 2021 to 2030, reaching USD 67,032.6 thousand. dollars.
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Rising electricity prices are credited with increasing the demand for generator sets in the country. Due to its expensive nature in the country, improved electricity access and distribution infrastructure has failed to attract companies to use it for their operations. Thus, businesses in Ghana tend to rely more on DG sets than on grid supply. Cheap power supply not only stimulates local business activities, but also attracts foreign investment. The Ghanaian market for DG sets is also driven by unpaid bills, slow or no cost recovery, electricity theft and power outages.
Infrastructure development projects have been rapidly launched in the country over the past decade, boosting the country’s socio-economic growth. Thanks to the rapid expansion of the power transmission network, approximately 85% of the Ghanaian population now has access to electricity. In addition, several transport projects are already planned to boost the country’s economic development. Along with this, many other development projects are underway, such as airports, hotels and shopping complexes, which will drive the demand for generator sets during construction and after the start of operations.
In 2021, generator sets with a capacity of 15 to 75 kVA generated significant revenue in the Ghanaian generator market, amounting to $21,443.5 thousand. These variants meet the needs of small to medium-sized locations, such as single-family homes, and small commercial spaces, such as stand-alone stores. In the coming years, the demand for variants offering power between 751 and 999 kVA is expected to grow the fastest in this African country, as they are important in the mining, oil and gas and construction sectors.
The fastest growing category in the end-use segment of the Ghana DG sets market is expected to be industrial. The growing popularity of generators in manufacturing, construction, locomotives, power & electricity and small industrial units has led the market to explode. Industrial and mining activities are on the rise, as the country is a major producer of manganese, bauxite and diamonds. Moreover, according to the International Trade Administration, Ghana produces the most gold of the entire African continent, which reflects the huge contribution of the mining sector to its GDP.
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Many generator set manufacturers are taking expansion measures, which will have a favorable impact on the Ghana generator set market, due to their operational dependence on diesel generators. They launch new products, expand their facilities and collaborate with other brands to improve their portfolio. They are focused on growing their customer base, gaining more brand recognition, and offering after-sales services, which include repair, maintenance, and digital services. A significant example is Takoradi, where Mantrac Group established a new component rebuild center in 2020.
Thus, infrastructure development projects lead to a significant increase in the demand for diesel generators.
Browse other related reports:
Report on the market of diesel generators in Russia – https://www.psmarketresearch.com/market-analysis/russia-diesel-generator-set-market
South Africa Diesel Generator Market Report – https://www.psmarketresearch.com/market-analysis/south-africa-diesel-generator-set-market
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