India Diesel Genset market is expected to witness sound growth owing to expansion of infrastructure, establishment of new industries and changing business environment in the country. Strong economic growth coupled with large scale infrastructure projects would foster the demand for diesel genset over the forecast period. Additionally, growing number of telecom towers in the country are expected to boost the diesel genset market especially for small KVA ratings.
According to 6Wresearch, India diesel genset market is forecast to grow at a CAGR of 4.5% during 2018-23. Over the years, the demand for power has increased tremendously in India. Requirement for continuous power in manufacturing sector would be the key driver for diesel genset market in the country. Upcoming industrial projects such as Delhi-Mumbai Industrial Corridor and Vizag-Chennai industrial corridor in line with state run companies and private players seeking to expand manufacturing base is propelling the growth of diesel genset market in India.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "During last couple of years, diesel genset market in India registered a sluggish growth due to improved power demand-supply situation especially in the 5-75KVA rating segment".
"Further, with the adoption of alternative fuel powered genset and increasing generation of electricity from solar power have affected the growth of the market during this time frame. However, in the forecast period, ‘Make in India’ campaign, smart cities project, expansion of public & private infrastructures would fuel diesel genset market in India", Ravi added.
According to Prakhar Srivastava, Research Analyst, Research and Consulting, 6Wresearch, " In 2014, the government introduced new emission norms which increased the prices of diesel gensets throughout the country. Also, with these norms, share of unorganized market declined along with the import of low rating genset from China".
"In India diesel genset market, 5 KVA-75 KVA segment has generated key revenue share in the overall market. Over the next six years, share of medium and high rating genset is expected to increase on account of deployment in manufacturing sector and usage in infrastructure development activities", Prakhar further added.
Large scale metro projects and airport projects such as Navi Mumbai International Airport (NMIA) and Delhi metro expansion projects are expected to fuel the growth of high KVA rating diesel genset market in the country. Also, states such as Uttar Pradesh, Delhi, Bihar, Maharashtra and Telangana are generating key market demand. The major companies in India diesel genset market include- Cummins, Kirloskar, Mahindra and Caterpillar.
"India Diesel Genset Market (2018-2023)" provides in-depth analysis with 69 figures and 35 tables covered in more than 170 pages. The report estimates and forecast the overall India diesel genset market by revenue, volume, KVA rating, verticals, regions and states. The report also gives insights on competitive landscape, market share by companies, market trends, company profiles, market drivers and restraints.
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