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India Generator Sets Market Size (2024 - 2029)

The India generator sets market is anticipated to experience growth driven by the demand for reliable power supply, particularly in the commercial sector, which holds the largest market share due to its capacity and flexible energy delivery methods. Despite environmental and energy security challenges prompting a shift towards cleaner technologies, the market's expansion is supported by opportunities in hybrid generators, which offer cost benefits and reduced fuel dependence. The need for consistent electricity access in various regions further underscores the market's potential.

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Market Size of India Generator Sets Industry

India Generator Sets Market - Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

India Generator Sets Market Analysis

The India generator sets market is expected to grow at a CAGR of more than 5% over the period of 2020-2025. 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.

India Generator Sets Industry Segmentation

The India generator sets market report includes:

Fuel
Diesel
Natural Gas
Others
Application
Backup Power
Prime Power
Peak Shaving Power
End-User
Residential
Commercial
Industrial
Ratings
0 - 75 kVA
75 - 375 kVA
Above 375 kVA
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India Generator Sets Market Size Summary

The India generator sets market is poised for significant growth, driven by the increasing demand for uninterrupted and reliable power supply, particularly in the commercial sector. The healthcare industry and other commercial segments are expected to be the largest end-users due to their substantial monitored capacity and the flexibility of generator sets in delivering energy on demand. Despite the market's growth potential, environmental and energy security concerns are prompting a shift towards cleaner technologies, which could pose challenges. However, the rising popularity of hybrid generators, which utilize multiple resources to reduce costs and fuel dependence, presents a promising opportunity for manufacturers. The expansion of India's natural gas grid is also anticipated to lower electricity production costs and enhance the appeal of natural gas-fueled generators, further supporting market growth.

The market landscape is characterized by a mix of established players and new entrants, with companies like Cummins Inc., Kirloskar Oil Engines Limited, and Atlas Copco AB playing pivotal roles. The liberalization of the energy sector is opening new avenues for growth, particularly in the commercial segment, which is expected to maintain its dominance due to increasing electricity demand. The construction and healthcare industries are likely to contribute significantly to market demand, driven by their need for immediate and high-voltage power solutions. Additionally, innovations such as the fuel cell device developed by the Council of Scientific and Industrial Research (CSIR) offer environmentally friendly alternatives to traditional diesel generators, aligning with the broader shift towards sustainable energy solutions.

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India Generator Sets Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fuel

      1. 2.1.1 Diesel

      2. 2.1.2 Natural Gas

      3. 2.1.3 Others

    2. 2.2 Application

      1. 2.2.1 Backup Power

      2. 2.2.2 Prime Power

      3. 2.2.3 Peak Shaving Power

    3. 2.3 End-User

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial

    4. 2.4 Ratings

      1. 2.4.1 0 - 75 kVA

      2. 2.4.2 75 - 375 kVA

      3. 2.4.3 Above 375 kVA

India Generator Sets Market Size FAQs

The India Generator Sets Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Atlas Copco AB , Cummins Inc., Kirloskar Oil Engines Limited , Greaves Cotton Limited and Ashok Leyland Ltd. are the major companies operating in the India Generator Sets Market.

India Generator Sets Market Report Snapshots

India Generator Sets Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)