The India generator sets market is expected to grow at a CAGR of more than 5% over the period. Factors such as an increase in demand for uninterrupted and reliable power supply and increasing growth in the commercial sector including the health care industry are expected to drive the market. However, increasing environmental and energy security concerns across the country has been leading to a shift toward cleaner resources and technologies, which may act as a restraint to the market.
– The commercial segment is expected to be the largest market by end-user as it has the largest amount of monitored capacity among all segments. It is mostly due to their flexible methods like delivering energy on demand that has helped their growth.
– The increasing popularity of hybrid generators and rising reliability of the hybrid system may be an opportunity for the industry due to its usage of various resources, driving down the cost, and reducing dependence on a single fuel. This, in turn, is expected to provide a significant amount of opportunity for the generator sets manufacturers in the near future.
– The increasing demand for uninterrupted and reliable power supply is expected to drive the market. A proportion of the country does not have access to 24-hour electricity with sporadic electric cuts, which may use generator sets for powering their houses and businesses.
Get a PDF Sample for more detailed market insights: https://www.sdki.us/sample-request-86817
Key Market Trends
Commercial Sector to Dominate the Market
– A commercial power producer is not a public utility, but which owns facilities to generate electricity for sale to services and industries. Numerous companies in India provide electricity in such manner, including companies such as Jackson Group.
– India has significantly increased its natural gas grid with a pipeline of 27,000 km (2019) being laid all over the country. Direct access to natural gas is expected to decrease the cost of electricity production and increase the customer base of natural gas generators. Commercial end-user is also likely to gain from the use of natural gas-fuelled generators due to its higher efficiency and lower cost of fuel.
– Many new companies have entered the commercial segment market. India has around 70 DISCOMs, most of which are state-owned and purchase power from electricity generators, mostly through long-term power purchase agreements (PPAs). However, liberalization in the market has opened new avenues and is expected to provide growth to the commercial end-user sector.
– In Apr 2019 – 2020 period, the monitored producing capacity of commercial power producers through diesel generators was approximately 10,667 MW. The commercial segment accounted for the highest capacity among all of the sectors. It is expected to remain among the significant power generation provider in the forecast period.
– Therefore, the commercial segment is expected to continue to dominate the market due to the increasing liberalization of the sector and rising demand for electricity.
Growing Demand for Uninterrupted and Reliable Power Supply to Drive the Market
– One of the most critical drivers in the market is the increasing demand for uninterrupted and reliable power supply by the populace of the country. Growing prosperity in the country has increased the purchasing power of its citizens, which can be spent on generator sets for a reliable source of power supply.
– The country’s primary energy consumption increased, by 7.9%, from 750 million tons of oil equivalent (mtoe) in 2017 to 809.2 mtoe in 2018. A high rate of consumption is expected to remain in the forecast period, thereby providing growth to the industry.
– In 2019, the Council of Scientific and Industrial Research (CSIR) indigenously developed a fuel cell device that turns green fuels into electricity with a little carbon footprint. The device is touted to be the environment-friendly alternative to noisy diesel generators that are widely used.
– High demand is likely to come from the construction and healthcare industries due to their high growth and features like the requirement of immediate electricity and high voltage for electrical equipment, which prefers methods akin to generator sets.
– Hence, the growing demand for uninterrupted and reliable power supply with an increase in consumption of primary energy in India is expected to drive the India generator sets market with significant demand coming from industrial, commercial, and residential sectors.
Request for PDF Sample Copy: – https://www.sdki.us/sample-request-86817
The India generator sets market is partially consolidated. Some of the key players in this market are Cummins Inc. Kirloskar Oil Engines Limited, Greaves Cotton Limited, Ashok Leyland Ltd., and Atlas Copco AB.
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
Access Full Report, here: India Generator Sets Market
About SDKI :
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Shibuya Data Count
Tel: + 81 3 45720790