India Diesel Genset Market by Power Rating (5 kVA–75 kVA, 76 kVA–375 kVA, 376 kVA–750 kVA, Above 750 kVA), by Application (Commercial [Retail Establishments, Commercial Offices, Telecom Towers, Hospitals, Hotels], Industrial [Manufacturing, Energy & Power], Residential), By State (Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, Uttar Pradesh, Madhya Pradesh, Rajasthan, West Bengal, Gujarat) – Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024
NEW YORK, March 06, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, Indian diesel genset market is projected to reach $1,518.1 million by 2024, registering a CAGR of 6.5% during the forecast period.
The market growth is expected to be driven by high-volume demand for these gensets in manufacturing, construction, and commercial projects. Furthermore, growth in the construction industry is likely to translate into increasing demand for gensets to cater the compounded auxiliary and prime power requirements, thereby ascribing the growth of the market in the forthcoming period.
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The Indian diesel genset market is segmented on basis of power rating, application, and state in this report. On the basis of power rating, the market is categorized into 5 kVA–75 kVA, 76 kVA–375 kVA, 376 kVA–750 kVA, and above 750 kVA. Among these, 5 kVA–75 kVA category accounted for the largest volume share during the historical period, owing to widespread demand for telecom towers, residential installations, small commercial complexes, hotels, and other low power requirement areas.
Based on end user, the Indian diesel genset market is classified into commercial, industrial, and residential. Of these, commercial category is estimated to account for the largest revenue share of over 60.0% in the market in 2018. Furthermore, growth in the healthcare, telecommunications, hospitality, and retail industries is expected to boost the demand for these gensets in construction projects in the coming years. As diesel gensets are widely used at construction sites as a prime and backup power source, they are expected to remain in high demand in the near future, especially those falling under the medium- and high-power categories.
Browse report overview with 46 tables and 21 figures spread through 92 pages and detailed TOC on "India Diesel Genset Market" at: https://www.psmarketresearch.com/market-analysis/india-diesel-genset-market
The demand for diesel gensets by telecom towers is estimated for a volume share of over 51.0% in the Indian commercial diesel genset industry in 2018. This is attributable to high-volume demand for gensets to serve prime and auxiliary power requirements in telecom towers. Furthermore, the demand is likely to be driven by investments in the telecom sector, and growing installation of telecom towers to cater data and voice coverage requirements in remote locations across the country.
Some of the major players operating in the Indian diesel genset market are Kirloskar Oil Engines Limited, Ashok Leyland Limited, Greaves Cotton Limited, VE Commercial Vehicles Limited, Mahindra Powerol Ltd., Cummins India Ltd., and Caterpillar Inc.
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Cummins India Ltd., a subsidiary of the Cummins Group, is estimated to hold the largest revenue share, amounting to over 35.0% market share, in the Indian diesel genset industry in 2018. This can be mainly attributed to the company’s vast product portfolio complemented by high sales volume in the medium- and high-power genset categories, and vast distribution network of the company.
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