India Diesel Genset Market is estimated to grow at and reach US$ 2.78 Billion by 2030 | Renub Research
According to Renub Research latest report, "India Diesel Genset Market, Size, Forecast 2023-2030, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" India Diesel Genset Market to grow with a CAGR of 8.20% from 2022 to 2030 "Genset," or "Generator Set," is a device that generates electrical power using an engine (usually powered by gasoline or diesel fuel) that drives an electrical generator. It can include a control panel, fuel tank, and battery for starting the engine. Gensets find their usage for reliable power supply in remote locations or as backup power during power outages.
The India Diesel Genset Market has been growing recently due to factors such as the growing demand for reliable and uninterrupted power supply, the lack of reliable grid infrastructure in certain areas, and the ever-increasing need for backup power in critical applications such as hospitals, data centers, and telecom infrastructure.
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Various policies and initiatives by the Indian government have been put in place to support the India diesel genset market in the country. For example, the government launched the "Power for All" initiative to provide dependable and reasonably priced power to all households, businesses, and industrial facilities in India by 2022. This move will further drive the growth of India diesel genset market in the country.
India's Diesel Genset Market was US$ 1.48 Billion in 2022.
India's power grid infrastructure is often unreliable, particularly in rural and semi-urban areas, which leads to a growing demand for diesel gensets as a backup power source. In addition, India's rapid industrialization and urbanization have increased the power demand, particularly in the manufacturing, construction, and IT industries. As a result, diesel gensets are often used as a backup power source in these industries to ensure uninterrupted operations.
The rapid growth of India's telecom sector has also contributed to the increased demand for diesel gensets. Telecom towers require a reliable source of backup power to ensure uninterrupted connectivity. In addition, India's ambitious infrastructure development plans, including the development of smart cities and the expansion of the transportation network, have also led to an increased demand for diesel gensets. All these factors have led to the growth of India diesel genset market.
Medium-range KVA Diesel Gensets have good growth rate in India Diesel Genset Market
The medium KVA range market for diesel gensets in India refers to the demand for generator sets with power output ranging from 100 KVA to 1000 KVA. Many parts of India, mainly rural areas, experience frequent power outages and blackouts, leading to a growing demand for medium-range KVA diesel gensets as backup power sources.
In addition, India's hospitality and healthcare sectors require a reliable power source to ensure uninterrupted operations. Therefore, diesel gensets are often used as backup power sources in these sectors to provide continuous power supply to critical applications such as air conditioning, medical equipment, and lighting.
The need for Reliable backup Power and Cost-effectiveness is the reason for the growth of India Diesel Genset Market
Diesel gensets are often considered a cost-effective option for commercial establishments that require a reliable backup power source. Unlike other backup power options, such as batteries or solar panels, diesel gensets are often more affordable and have a lower initial investment cost.
In addition, diesel gensets can provide a high-power output, making them suitable for use in commercial establishments that require a significant amount of power, such as manufacturing plants, hospitals, hotels, and shopping malls. India's rapid industrialization has increased the energy demand, particularly in the manufacturing sector. As a result, diesel gensets are often used as a backup power source in these industries to ensure uninterrupted operations.
Southern Region of India shall have the Highest Growth Rate in India Diesel Genset Market
The southern region of India is home to several IT and telecom companies, which require a reliable backup power source to ensure uninterrupted operations. The growth of these sectors has led to an increased demand for diesel gensets in commercial establishments. In addition, the southern region of India is a hub for the manufacturing sector, particularly in the automotive, textiles, and electronics industries. These industries require a reliable backup power source to ensure uninterrupted operations, which has led to the growth of India diesel genset market.
The southern region of India is also experiencing a surge in construction activities, including developing residential and commercial properties. These construction sites require a reliable power source, leading to an increased demand for diesel gensets. Most of these construction sites use medium range KVA diesel gensets.
Competitive Landscape:
The diesel genset market in India is highly competitive, with several local and international players competing for market share. This competition has driven innovation and product development, leading to a broader range of products and services for customers. Key players competing in the India diesel genset market are Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., Greaves Cotton Ltd., Caterpillar Inc., Escorts Limited, and Powerica Ltd.
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Market Summary:
- Kva Range- Report covers India Diesel Genset Market by KVA range in 3 viewpoints (Low, Medium, and High).
- End-User- The India Diesel Genset Market by end-user break up into 3 viewpoints (Residential, Commercial, and Industrial).
- Region- Report covers India Diesel Genset Market by region in 4 viewpoints (Eastern Region, Western Region, Southern Region, and Northern Region).
- Key Players- All the major players of India Diesel Genset Market have been covered from 3 Viewpoints (Overview, Recent Developments, and Sales Analysis) Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., Greaves Cotton Ltd., Caterpillar Inc., Escorts Limited, and Powerica Ltd.
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