In 2021, the Madagascar diesel genset market was worth around USD 21,429.8 thousand, and it is projected to advance at a 2.9% CAGR from 2021 to 2030, hitting USD 27,755.7 thousand by 2030, according to P&S Intelligence.

According to the World Bank, in 2019 only 26.9% of the total populace of the nation had the accessibility to electricity which indeed is generating huge demand for diesel gensets. Furthermore, the industry is projected to be boosted by the surge in the requirement for backup electricity from the commercial and residential sectors and the growth in the mining and construction sectors.

The 15–75 kVA category, held the largest market share, of approximately 42%, in 2021. This can mainly be credited to the heavy utilization of such gensets in small industries, residential facilities, restaurants, towers, hotels, and commercial complexes. Furthermore, they are extremely safe in terms of storage, utilize less fuel, and have good robustness.

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Additionally, 376–750 kVA diesel gensets held the second-largest revenue share in the industry. This is because of the huge demand for these gensets in industries, telecom towers, commercial complexes, hotels, and restaurants. residential facilities, restaurants, towers, hotels, and commercial complexes.

In the coming few years, the commercial category is all set to experience the fastest development, advancing at a CAGR of 3.9%. This can be ascribed to the constant growth in the construction industry, which includes residential establishments, hotels, retail outlets, transport infrastructures, malls, restaurants, and telecom towers, which generates the requirement for diesel genset sets in the nation.

The key companies functioning in the Madagascar diesel genset market have been involved in collaborations and partnerships, in order to remain ahead of their competitors.

Hence, the fast development in the telecom and construction industries and the surge in the occurrence of power outages are the major factors contributing to the growth of the Madagascar diesel genset market.