India Diesel Generator Set Market Size, Growth, Demand, Regional Outlook and Analysis Through 2030

The Indian diesel genset market value stood at $816.0 million in 2021, and it is predicted to surge to $1,831.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 9.4% from 2021 to 2030 (forecast period). The major factors driving the expansion of the market are the booming manufacturing industry and burgeoning need for power for construction activities in the country.

With the implementation of various supportive government regulations, the manufacturing industry in India is predicted to expand massively in the coming years. As per the India Brand Equity Foundation (IBEF), in India, foreign direct investments (FDI) in the manufacturing industry amounted to $89.2 billion between April 2000 and December 2019. The country witnessed a sharp rise in FDI during this period, owing to the provision of various incentives, relaxation of tax laws, and advancements and innovations in the infrastructure.

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Additionally, many automobile and mobile phone manufacturers are either setting up their production facilities or commissioning these plants in India, which once completed will push up the requirement for diesel gensets. Besides, the increasing construction activities in the country, on account of rapid urbanization and industrialization, are also fueling the demand for diesel gensets. In recent years, the country has witnessed the launch of several massive construction projects, such as those pertaining to the development of refineries, ports, buildings, roads, and highways.

Furthermore, the government is actively focusing on providing support for various infrastructure development projects by implementing favorable policies and augmenting budgetary allocations. As diesel gensets are a critical component of the construction industry, owing to their ability to provide continuous power supply at construction sites, the launch of such massive infrastructural development and construction projects is positively impacting their sales in the country. Depending on application, the Indian diesel genset market is divided into industrial, commercial, and residential categories.

Out of these, the commercial category is predicted to demonstrate the highest growth rate in the market in the coming years. This is credited to the surging number of construction projects, related to roads and railways, petrol pumps, business parks, and shopping centers. Hence, the surge in the commercial industry is predicted to create lucrative growth opportunities for diesel genset manufacturers, primarily those who manufacture high- and medium-power variants, in the country in the coming years.

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Karnataka is predicted to be the fastest-growing state in the Indian diesel genset market throughout the forecast period. This is attributed to the development of commercial infrastructure and growing number of residential facilities in the state. For example, as per an article published in Business Today in December 2020, the Central government would launch infrastructure development projects worth $15.68 billion in Karnataka in the near future. Additionally, as per the Economic Times, the Karnataka government decided to build 900,000 houses over a duration of two years in the state under various housing projects, in July 2021.

Hence, it is safe to say that the sales of diesel gensets will soar in India in the coming years, mainly because of the surging construction and infrastructure development activities in the country.

Browse more related reports:

India Residential DG Set Market - https://www.psmarketresearch.com/market-analysis/india-residential-diesel-genset-market

India Prime Power DG Set Market - https://www.psmarketresearch.com/market-analysis/india-prime-power-dg-set-market

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

This release was published on openPR.