Press Release

India Diesel Genset Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024

India Diesel Genset Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024

The India diesel genset market is expected to generate a revenue of $1,518.1 million by 2024, progressing at a CAGR of 6.5% during the forecast period (2019–2024), according to P&S Intelligence. The major factors driving the growth of the market are increasing demand for these gensets in construction, manufacturing, and commercial projects. In addition, the expansion of the construction sector is likely to push the demand for these gensets to meet the prime and compounded auxiliary power requirements, resulting in the market growth.

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The market is segmented by application, state, and power rating. Based on power rating, the Indian diesel genset market is divided into above 750 kVA, 376 kVA–750 kVA, 76 kVA–375 kVA, and 5 kVA–75 kVA.  Out of these, during the historical period, the 5KVA–75KVA division held the largest volume share in the market. Due to the surging demand for telecom towers, small commercial complexes, hotels, residential installations, and other low–power requirement spaces, the market for this category is predicted to grow in the forecast period.

Telecom towers are projected to create the highest demand in the diesel genset market in India. In 2018, telecom towers registered a volume share of more than 51.0% in the Indian commercial diesel genset sector. This is ascribed to the high requirement for gensets to produce auxiliary and prime power in telecom towers. Investments in the telecom sector and increasing installation rate of telecom towers to offer data and voice coverage in remote locations across the country are expected to drive the demand for diesel gensets in the telecom sector.

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The major key players in the Indian diesel genset market are Ashok Leyland Limited, Kirloskar Oil Engines Limited, Mahindra Powerol Ltd., VE Commercial Vehicles Limited, Cummins India Ltd., Greaves Cotton Limited, and Caterpillar Inc. Among all these, Cummins India Ltd., a subsidiary of the Cummins Group, in 2018, held the largest revenue share in the market, equaling more than 35.0% This is mainly attributed to the company’s large product portfolio, backed by huge sales volume in the medium and high-power genset categories, and wide distribution network.

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INDIA DIESEL GENSET MARKET SEGMENTATION

By Power Rating

5 kVA–75 kVA
76 kVA–375 kVA
376 kVA–750 kVA
Above 750 kVA

By Application

Commercial

By user

Retail establishments
Commercial offices
Telecom towers
Hospitals
Hotels
Others

By power rating

5 kVA–75 kVA
76 kVA–375 kVA
376 kVA–750 kVA
Above 750 kVA
Industrial

By user

Manufacturing
Energy & power
Others

By power rating
5 kVA–75 kVA
76 kVA–375 kVA
376 kVA–750 kVA
Above 750 kVA

Residential

By State

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

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