India Diesel Generator Set Market Analysis, Opportunities, Trends, Developments, And Forecast to 2030

Factors such as the flourishing manufacturing sector in India and burgeoning demand for power for commercial applications will help the Indian diesel genset market to advance at 12.5% CAGR during the forecast period (2020–2030). The market was valued at $1,105.7 million in 2019 and it is expected to generate $2,365.2 million revenue by 2030. Diesel gensets are required in almost every manufacturing and commercial facility to maintain continuous power supply, on account of the frequent power cuts in the country.

In recent years, the booming manufacturing sector in India has become a primary catalyst for the market growth. The boom in the manufacturing sector can be credited to the launch of government initiatives such a Make in India and the introduction of numerous outreach programs for micro, small, and medium enterprises (MSMEs). Additionally, the hefty investments being made by the government in industrial corridors are also facilitating the growth of the manufacturing sector in the country. Manufacturing facilities are deploying diesel gensets to meet their uninterrupted, centralized, and captive power supply needs.

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Furthermore, the burgeoning power demand from the commercial sector will also catalyze the Indian diesel genset market growth in the foreseeable future. The surging number of urban housing projects and increasing construction of telecom towers and logistics centers are creating a high demand for diesel gensets in the country. Moreover, the rapid construction and localization of data centers, owing to the implementation of data protection laws and favorable government policies regarding the development of data centers, will also drive the demand for diesel generators in India in the upcoming years.

The power rating segment of the Indian diesel genset market is categorized into above 750 kVA, 376 kVA–750 kVA, 76 kVA–375 kVA, and 5 kVA–75 kVA. Under this segment, the 5 kVA–75 kVA category accounted for the largest market share in 2019, due to the large-scale adoption of diesel gensets within the power range of 5 kVA–75 kVA in residential societies, small-scale industries, and restaurants to meet their extensive demand for auxiliary power.

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According to P&S Intelligence, the Indian diesel genset market was collectively dominated by Tamil Nadu, Uttar Pradesh, Maharashtra, Karnataka, and Andhra Pradesh in 2019. This can be attributed to the mounting investments being made in the telecom sector and escalating focus on the development of commercial infrastructure in these Indian states. Leading telecommunication companies, such as Bharti Airtel and Reliance Jio Infocomm Ltd. are actively focusing on the development of a strong telecom infrastructure in these states. Additionally, the soaring number of residential facilities will also supplement the market growth in these states in the forecast years.

Therefore, the expansion of the manufacturing and commercial sectors and rising number of housing infrastructure projects will augment the market growth in the coming years.

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This release was published on openPR.