375.1-1000 kVA rating gas genset acquired the largest revenue share in the overall India gas genset market in 2018 – 6Wresearch
India gas Genset market has experienced a downward trend over the past few years as a result of 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 that 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 revenue size is projected to grow at a CAGR of 10.7% during 2019-2025. Rising natural gas production and continuously growing per capita consumption of electricity leading to the large demand for power backup is the key factors propelling the demand for gas gensets in the country. Government efforts to develop piped gas infrastructure in the country coupled with growing environmental awareness would drive the growth of the gas genset market in India.
According to Akshay Thakur, Senior Research Analyst, 6Wresearch, "By kVA rating, 375.1- 1000 kVA rating captured the largest revenue share for the year 2018 owing to its application in large enterprises, malls, hotels, data centers, telecom industry, and hospitals.
"Furthermore, the 100.1- 375 kVA rating segment is projected to witness significant growth during the forecast period on the account of rising demand for gas gensets across the commercial and industrial sectors in the country.", Akshay further added.
According to Eshita Goel, Research Associate, 6Wrsearch, "Western region registered highest market revenue share in the overall India gas genset market for the year 2018. Moreover, the western region is projected to witness exponential growth as compared to other regions of India during the forecast period owing to the rising commercial activities such as the construction of offices, hotels, hospitals and other buildings in the region."
"Moreover, a ban on diesel genset in the NCR region from October 2019 and introduction of piped natural gas in the residential societies of Noida coupled with government initiatives to create environmental awareness among consumers along with the government subsidies for using renewable resources would further push the consumers’ adoption of gas gensets in the coming years.", Eshita further added.
Some of the major companies in India gas genset market include Cummins, Caterpillar, Ashok Leyland, Mahindra & Mahindra Ltd., and FG Wilson.
“India Gas Genset Market (2019-2025)” report provides an in-depth analysis with 55 figures and 18 tables, covered in 123 pages. The report estimates and forecasts the overall India gas genset by rating, by verticals, by applications, and by 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 devise and align their market strategies according to the current and future market dynamics.
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