The size of the Indian diesel genset market was USD 937.1 million in 2022, and it will advance at a rate of 8.8% in the years to come, to reach USD 1,839.5 million by 2030, as per P&S Intelligence.
5 kVA–75 kVA category had the largest volume share in the recent past, which is credited to the low upkeep cost and easy obtainability of the spare parts of these variants all over India. Furthermore, the economic growth in the nation and the increase in the count of construction projects will result in a high requirement for these gensets for meeting major and auxiliary power requirements.
The commercial category will grow the fastest in the future, at a rate of about 10%. These systems offer an uninterrupted supply of power, to keep operations going and diminish any loss of revenue. The increasing requirement for power backup at shopping malls and supplementary public spaces and the quick development of data centers help the industry to grow.
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India, recently, has observed high economic growth, furthermore to the commencement of numerous construction projects, such as, roads, buildings, ports, highways and refineries, by both private and public players. Also, support of the government has amplified, in terms of budgetary allocations and regulatory reforms, for infra projects, which is opening new sectors to private investments and involvements.
It is because of the increasing number of construction projects, the demand for diesel gensets in India will increase significantly in the future.