Market Size of India Diesel Generator Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 5.20 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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India Diesel Generator Market Analysis
India's Diesel Generator Market size is expected to grow from USD 1.10 billion in 2023 to USD 1.42 billion by 2028, registering a CAGR of 5.20% during the forecast period (2023-2028).
- Over the medium period, factors such as uninterrupted and reliable power supply and heavy deployment of DG (diesel generator) set in healthcare services and the IT sector are accountable for the market's progress. Improvement in technology can lead to an upsurge in the market's growth during the forecast period.
- On the other hand, the Indian diesel generator market may face hurdles in the near future due to the growing trend of renewable power generation, particularly in industries that have targeted reducing greenhouse gas emissions.
- Nevertheless, diesel generators are widely used as a prime and standby source in the manufacturing sector. India is predicted to be the global manufacturing hub by 2030 due to the efforts poured in by the Make in India program launched by the Government of India. Such developments are anticipated to create significant opportunities for the market.
India Diesel Generator Industry Segmentation
A diesel generator is a device that combines a diesel engine and an electric generator to generate electricity. This is an example of an engine generator. A diesel compression-ignition engine is typically built to run on diesel fuel, but specific models are also designed to run on other liquid fuels or natural gas.
The India diesel generator market is segmented by power output, application, end user, and ratings. The market is segmented by power output into portable, inverter, industrial, and induction generators. The market is segmented by application into standby, prime power, continuous, and peak shaving. By end-user, the market is segmented into residential, commercial, and industrial. Ratings segment the market into 0-75 kVA, 75-375 kVA, and Above 375 kVA. The market sizing and forecasts have been done for each segment based on revenue (USD).
Power Output | |
Portable Generators | |
Inverter Generators | |
Industrial Generators | |
Induction Generators |
Application | |
Standby | |
Prime Power | |
Continuous | |
Peak Shaving |
End-User | |
Residential | |
Commercial | |
Industrial |
Ratings | |
0-75kVA | |
75-375kVA | |
Above 375kVA |
India Diesel Generator Market Size Summary
The Indian diesel generator market is poised for growth, driven by the need for reliable power supply across various sectors, including healthcare and IT. The market is expected to expand significantly over the forecast period, supported by technological advancements and the country's ambition to become a global manufacturing hub by 2030. The Make in India initiative is anticipated to create substantial opportunities for diesel generators, which are essential as both prime and standby power sources in manufacturing. Despite the challenges posed by the increasing adoption of renewable energy sources, diesel generators remain crucial in sectors where uninterrupted power is vital, such as hospitals and commercial enterprises.
The commercial segment is projected to dominate the market, fueled by the rapid expansion of the service sector, which encompasses hospitals, hotels, IT, and telecommunications. The service sector's significant contribution to India's gross value added (GVA) underscores its importance. Additionally, the IT and business services market is experiencing robust growth, further driving demand for diesel generators. However, the market faces potential constraints from the government's push towards greener energy solutions, as evidenced by the substantial increase in renewable energy capacity. Despite these challenges, the diesel generator market in India is expected to continue its growth trajectory, supported by key industry players and ongoing infrastructure developments.
India Diesel Generator Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Uninterrupted and Reliable Power Supply and Heavy Deployment of DG (diesel generator) Set
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1.5.1.2 Improvement in Technology of Diesel Generator
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1.5.2 Restraints
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1.5.2.1 The Growing Trend of Renewable Power Generation
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Power Output
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2.1.1 Portable Generators
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2.1.2 Inverter Generators
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2.1.3 Industrial Generators
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2.1.4 Induction Generators
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2.2 Application
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2.2.1 Standby
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2.2.2 Prime Power
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2.2.3 Continuous
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2.2.4 Peak Shaving
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2.3 End-User
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2.3.1 Residential
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2.3.2 Commercial
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2.3.3 Industrial
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2.4 Ratings
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2.4.1 0-75kVA
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2.4.2 75-375kVA
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2.4.3 Above 375kVA
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India Diesel Generator Market Size FAQs
What is the current India Diesel Generator Market size?
The India Diesel Generator Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in India Diesel Generator Market?
Honda India Power Products Ltd., Yamaha Motor Co Ltd., Mitsubishi Heavy Industries Ltd., Mahindra & Mahindra Ltd. and Kirloskar Oil Engines Ltd. are the major companies operating in the India Diesel Generator Market.