The India dieselgenset market generated a revenue of $1,039.7 million in 2018, and it is estimated
to reach $1,518.1 million by 2024, advancing at a CAGR of 6.5% during the
forecast period (2019–2024). This is attributed to the increasing adoption of
medium and high-hp diesel gensets across the country. Furthermore,
macroeconomic growth, along with improvements in infrastructure, growth of the manufacturing
sector, and surge in commercial construction projects is predicted to escalate
the demand for these gensets for meeting prime and auxiliary power requirements
in the near future.
In simple terms, a diesel genset or a diesel generator set is
an integrated system consisting of a generator and diesel engine that help in producing
electricity. This electricity is used for meeting both prime and backup power
requirements. For
a genset, diesel works as a fuel, and these gensets are attached to a fuel
delivery system, control panel, canopy or enclosure, alternator, cooling and
exhaust system, and other auxiliary components.
Based
on power rating, the diesel genset
market in India is categorized into above 750, 376 kVA–750 kVA, 76 kVA–375
kVA, and kVA 5 kVA–75 kVA diesel gensets. In 2018, the 5 kVA–75 kVA category held the largest
share in terms of sales volume in the market. This is due to the increase in demand
for these gensets for residential and small commercial installations, telecom
towers, and construction projects. Furthermore, these generators are produced
by a large number of unorganized and organized market players, thus come under wide
range of budgets.
Now, on the basis of
application, the diesel genset market in
India is classified into industrial, commercial, and residential. Among
all, in 2018, commercial application was the largest revenue contributor in the
market. This is ascribed to the high demand for diesel generators in commercial
offices, hospitals, telecom towers, and hotels. In addition to this, the increasing
construction rate of colocation and captive
date centers and rising cloud adoption by private and public companies are
expected to fuel the demand for gensets in the near future.
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In recent years, it has been
witnessed that the residential and commercial real estate market of India grew
significantly, owing to surging transparency, rapid urbanization, and advancements
in the IT/ITeS sector. The growing customer confidence in real estate along
with the rise in commercial construction projects, such as hotels, mobile phone
towers, and metros, is anticipated to boost the adoption of diesel generators
to fulfil power requirements. Furthermore, localization
and construction of data centers is predicted to further raise the demand for
these generators, resulting in the prosperity of the Indian diesel genset market.
Hence,
with the increasing use of diesel generators in the commercial, residential and
industrial sectors, the Indian diesel
genset market is expected to witness significant growth.
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