Posted On: 2018-01-01
India gas genset market has experienced a downward trend over the past few years as a result of stringent pollution regulations, limited consumer awareness and fluctuating gas prices. However, the market is projected to bounce back from 2019 onwards as genset manufacturers are making efforts to come up with standard products which are compliant with the CPCB (Central Pollution Control Board) II emission norms. Moreover, growing pollution concern is also expected to increase the demand for gas gensets as compared to diesel gensets over the coming years.
According to 6Wresearch, India Gas Genset Market revenues are projected to reach $31 million by 2024. By regions, the Western region attributed for the maximum revenue share in 2017, on account of the presence of a more robust gas pipeline infrastructure as compared to the other regions of the country. In terms of rating, the 375.1 kVA to 1,000 kVA genset segment held the largest market revenue share in 2017. The 100.1 kVA-375 kVA segment is projected to exhibit significant growth during the forecast period on account of rising demand for gas gensets across the commercial and industrial sectors in India.
According to Anuj Mehrotra, Assistant Manager, Research and Consulting, 6Wresearch, "The commercial end user vertical captured the highest revenue share in 2017 in the overall gas genset market in India, followed by the industrial vertical. Additionally, the demand for gas gensets up to 375 kVA rating dominated the market in 2017. Growing number of commercial establishments are further increasing the need for power and back up solutions which are likely to drive the demand for gas gensets across segments such as airports, amusement parks, telecom, datacenters, educational institutes, and offices."
"Moreover, a developing gas pipeline infrastructure coupled with natural gas production in the country would further assist in the growth of India gas genset market over the coming years," Anuj concluded.
According to Suman Gautam, Research Analyst, Research and Consulting, 6Wresearch, "At present, the genset market in India is predominantly diesel based genset. However, on account of growing environmental awareness, the market is slowly moving towards gas-based gensets. In addition, continuously growing per capita consumption of electricity in the country indicates a significantly growing demand for power and thus the need for the continuous power supply. This is anticipated to further propel the growth of the gas genset market in the country."
"The government of India and several leading natural gas distribution companies are making efforts to encourage consumers for the consumption of natural gas, which is likely to act as a catalyst for the growth of the gas genset market in the country. For instance, Indraprastha Gas Limited is planning to replace diesel gensets by providing 1 lakh cubic meter gas per day to factories in Rewari (Delhi)," Suman further added.
Some of the major companies in the India Gas Genset market include Cummins, Caterpillar, Ashok Leyland, Mahindra, Cooper, Kohler Power and Kirloskar Oil Engines.
"India Gas Genset Market (2018-2024)" provides an in-depth analysis with 55 figures and 18 tables covered in 120 pages. The report estimates and forecast the overall India Gas Genset market by rating, verticals, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.