India Gensets Market is Expected to Generate $3,006.6 Million Revenue by 2030

October 27 18:01 2020
India Gensets Market is Expected to Generate $3,006.6 Million Revenue by 2030
India Gensets Market is advancing at a CAGR of 13.3% during the forecast period by P&S Intelligence.

As per the UN, by 2027, India will become the most populated country on earth, surpassing the records set by China. The booming population has already been driving construction and infrastructure development activities in the country. This is expected to take the India gensets market from $1,385.6 million in 2019 to $3,006.6 million by 2030, at a healthy 13.3% CAGR between 2020 and 2030.

The Indian gensets market has witnessed a slump in its growth rate during the COVID-19 crisis, as a result of the nationwide lockdown implemented to stop the virus from spreading. Subsequently, a large number of manufacturing plants and commercial complexes have shut down, while construction activities have stopped due to laborers heading back home. Even the Indian Railways has suspended its passenger services, which has further led to a reduced demand for gensets.

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Historically, the above-15 kVA category has held the largest share in the Indian gensets market, based on power rating. Commercial complexes, residential facilities, restaurants, small industrial units, and telecom towers widely deploy these gensets to meet their auxiliary electricity demands. As the number of residential societies and commercial complexes increases in the country, so will the demand for above-15 kVA gensets.

In the years to come, the commercial category will dominate the Indian gensets market, under segmentation by application. The installation rate of gensets is rising rapidly in restaurants, telecom towers, hospitals, hotels, malls, and various other commercial settings. With the growth of the telecom, healthcare, retail, and hospitality sectors, an increasing number of gensets will be installed.

The highest value CAGR in the Indian gensets market, of 14.0%, is predicted to be seen by gensets with an above-400 cc engine capacity. The commercial and industrial sectors, where the electricity requirement is always high, require gensets with a higher engine capacity, for reliable operations. Moreover, if the power load increases suddenly, higher-engine-capacity gensets are able to respond quickly.

The major companies in the Indian gensets market are Ashok Leyland Limited, Kirloskar Oil Engines Limited, Mahindra Powerol Ltd., Greaves Cotton Limited, Perfect Gas Generators, Cummins India Ltd., Kohler Power India Pvt. Ltd., Atlas Copco (India) Ltd., Escorts Ltd., and FG Wilson.

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Market Size Breakdown by Segment

By Power Rating

  • Below 6 kVA
  • 6 kVA–10 kVA
  • 11 kVA–15 kVA
  • Above 15 kVA

By Power Requirement

  • Prime Power
  • Backup Power

By Application

  • Commercial
    • By user
      • Retail establishments
      • Offices
      • Telecom towers
      • Hospitals
      • Hotels
  • Industrial
    • By user
      • Manufacturing
      • Energy & power
  • Residential

By Engine Capacity

  • Below 110 cc
  • 110 cc–200 cc
  • 201 cc–400 cc
  • Above 400 cc

By Fuel Type

  • Diesel
  • Gasoline
  • Gas
  • Others

By State

  • Tamil Nadu
  • Andhra Pradesh
  • Karnataka
  • Maharashtra
  • Uttar Pradesh
  • Madhya Pradesh
  • Rajasthan
  • West Bengal
  • Gujarat
  • Rest of India

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