Growth of Construction Industry in Country Driving Indian Diesel Generator Set Industry

The Indian diesel genset market had a valuation of $1,105.7 million in 2019 and is predicted to generate a revenue of $2,365.2 million by 2030. Furthermore, the market will progress at a CAGR of 12.5% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The rapid expansion in the manufacturing sector and the growing requirement for power for various commercial applications in the country are the main market growth drivers.

The demand for reliable power supply during construction activities and also after the leasing out of the finished infrastructure projects majorly drives the Indian gensets market. In a large part of India, the grid supply is still erratic, owing to the aging transmission infrastructure or infrastructure that is inadequate, to begin with. Essential settings such as telecom towers, manufacturing plants, hospitals, oil and gas plants, and railways require uninterrupted power, for which generators are essential.

Historically, the above-15 kVA category has held the largest share in the Indian gensets market, based on power rating. Commercial complexes, residential facilities, restaurants, small industrial units, and telecom towers widely deploy these gensets to meet their auxiliary electricity demands. As the number of residential societies and commercial complexes increases in the country, so will the demand for above-15 kVA gensets.

The backup power bifurcation, on the basis of power requirement, is expected to grow faster in the Indian gensets market in the coming years. The demand for continuous power supply has always been high in retail shops, houses, clinics, commercial buildings, manufacturing facilities, and hospitality units, which makes backup power necessary in cases of a grid failure or power outages.

Uttar Pradesh is the largest contributor to the Indian gensets market, when segmented by state. The state is witnessing increasing investments in its telecom and other commercial subsectors, which are driving construction activities here. Therefore, the demand for generators at construction sites is rather high, and gensets will be further needed when the commercial projects are operationalized.

Market Players Taking Numerous Measures to Edge Out Competitors

In order to get a definitive advantage over their competitors, players in the Indian gensets market are taking a number of steps, which are aimed at:

• Meeting the rising demand for power in the infrastructure sector

• Widening their portfolio of low- and medium-voltage products, diesel gensets, power bushbars, protection and measurement devices, and low-voltage switchboards

• Offering remote monitoring capabilities in generators

• Supplying an increasing number of engines for genset manufacturing

• Increasing the revenue from their existing portfolio

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