India Generator Sets Market Trends

Statistics for the 2023 & 2024 India Generator Sets market trends, created by Mordor Intelligence™ Industry Reports. India Generator Sets trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of India Generator Sets Industry

This section covers the major market trends shaping the India Generator Sets Market according to our research experts:

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.
Diesel Monitored Capacity

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.
Primary Energy Consumption

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