MEA August 2017

MEAMARKETS / August 2017 5 NEWS , Most Middle East- ern countries have invested a consider- able amount in the construction market over the last decade. This is a result of the plan to diversify their economies from oil and oil-related business activities to other indus- try sectors; tourism has become the major focus. The market demand for paints and coatings is increasing in the construction sector, where new infrastructural construction and multi-storied buildings are under- way, which are due to be complet- ed over the forecast period. The Middle East Die- sel Genset market is anticipated to grow at a CAGR of 4.3% dur- ing 2017-2023. UAE, Saudi Arabia and Kuwait gov- ernments are taking major steps to strengthen the non-oil sectors due to recent decline in crude oil prices, which has impacted the market. With expected recovery of crude oil prices in 2017 and in- crease in public infrastructure de- velopment for next six years, the market would rebound during the forecast period. Dubai World Expo 2020, Qatar FIFA World Cup 2022, National Development Plans and econom- ic diversification are the key driv- ers for the growth of diesel genset market in Middle East region. Die- sel gensets have become major source of power for building mod- ern infrastructures. Further, these are heavily deployed to provide prime back-up and peak power across the globe. GCC being one of the fastest growing regions of the world, utilises gensets to pow- er their infrastructure. Small and medium rating diesel gensets (5-75 KVA and 75-375 KVA) are expected to register strong growth over the coming years due to high demand from residential and construction sec- tors. Upcoming mega projects such as Lusail city, railway net- work expansion and economic cities would also drive the diesel genset market in Middle East re- gion. Key players in the Middle East diesel genset market in- clude- Caterpillar, Cummins, MTU Onsite Energy, Kohler SDMO, Arken and Teksan Generator. For more information about this report visit: www.re - searchandmarkets.com Middle East Diesel Genset Market (2017-2023) The paints and coatings industry in the Middle East and Africa (MEA) is an emerging industry, owing to the large-scale construction projects that are currently underway. The major countries contributing to the construction sector are Saudi Arabia, Qatar, UAE, Ku- wait, etc. The demand for paints and coatings in these countries is increasing at a moderate rate, as the economic scenario in these countries is still affected by the oil and gas market - a major contributor to the countries’ in- come sources. Al-jazeera Factory for Paints Co., National Paints, Jotun, etc., are among the top players in the Middle East and Af- rican paints and coatings market. The Middle East and African paints and coatings market was worth USD 8.865.67 million in 2016. The architectural coatings segment occupied the highest market share, with ~76%, in terms of volume. The paints and coatings market in MEA has been segmented by technology into water-borne, sol- vent-borne, radiation-cured and others. The water-borne coatings segment is expected to record the highest growth rate during the forecast period, owing to the increasing use of water-borne adhesives in architectural coat- ings. The solvent-borne coatings segment dominates the industrial coatings segment, as these coat- ings are more efficient than other coatings. By country, Saudi Arabia ac- counted for the largest market share in 2016, among other countries, such as Jordon, Egypt, UAE, Qatar, Kuwait, South Africa and Nigeria. Egypt and Jordon are expected to record the fastest growth rates during the forecast period, owing to the increased spending in construction activities and growing industrial activities in these countries. The Middle East & African paints and coatings market is expected to register a CAGR of 6.16%, by revenue and 5.07%, by volume, during the forecast period. www.mordorintelligence.com The Middle East Diesel Genset market is anticipated to grow at a CAGR of 4.3% during 2017-2023, according to research from Research and Markets.