Increasing Commercial Construction Projects Augmenting the India Diesel Genset Market Potential

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Increasing Commercial Construction Projects Augmenting the India Diesel Genset Market Potential

June 29
01:28 2019
Increasing Commercial Construction Projects Augmenting the India Diesel Genset Market Potential
The India diesel genset market generated a revenue of $1,039.7 million in 2018, and it is estimated to reach $1,518.1 million by 2024, advancing at a CAGR of 6.5% during the forecast period 2019–2024 .

This is attributed to the increasing adoption of medium and high-hp diesel gensets across the country. Furthermore, macroeconomic growth, along with improvements in infrastructure, growth of the manufacturing sector, and surge in commercial construction projects is predicted to escalate the demand for these gensets for meeting prime and auxiliary power requirements in the near future. 

In simple terms, a diesel genset or a diesel generator set is an integrated system consisting of a generator and diesel engine that help in producing electricity. This electricity is used for meeting both prime and backup power requirements. For a genset, diesel works as a fuel, and these gensets are attached to a fuel delivery system, control panel, canopy or enclosure, alternator, cooling and exhaust system, and other auxiliary components.

Based on power rating, the diesel genset market in India is categorized into above 750, 376 kVA–750 kVA, 76 kVA–375 kVA, and kVA 5 kVA–75 kVA diesel gensets. In 2018, the 5 kVA–75 kVA category held the largest share in terms of sales volume in the market. This is due to the increase in demand for these gensets for residential and small commercial installations, telecom towers, and construction projects. Furthermore, these generators are produced by a large number of unorganized and organized market players, thus come under wide range of budgets.

Now, on the basis of application, the diesel genset market in India is classified into industrial, commercial, and residential. Among all, in 2018, commercial application was the largest revenue contributor in the market. This is ascribed to the high demand for diesel generators in commercial offices, hospitals, telecom towers, and hotels. In addition to this, the increasing construction rate of  colocation and captive date centers and rising cloud adoption by private and public companies are expected to fuel the demand for gensets in the near future.

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In recent years, it has been witnessed that the residential and commercial real estate market of India grew significantly, owing to surging transparency, rapid urbanization, and advancements in the IT/ITeS sector. The growing customer confidence in real estate along with the rise in commercial construction projects, such as hotels, mobile phone towers, and metros, is anticipated to boost the adoption of diesel generators to fulfil power requirements.  Furthermore, localization and construction of data centers is predicted to further raise the demand for these generators, resulting in the prosperity of the Indian diesel genset market.

Hence, with the increasing use of diesel generators in the commercial, residential and industrial sectors, the Indian diesel genset market is expected to witness significant growth.

Other Related Reports

Global Diesel Genset Market

The demand for diesel fueled gensets is growing with the aging grid infrastructure in countries like the U.S. and insufficient grid infrastructure in countries including Nigeria, Algeria, Ghana, and several other African and Latin American countries. In order to withstand the growing demand for standalone and backup power requirements, several diesel genset market players have been investing a huge amount for developing their product lines. 

https://www.psmarketresearch.com/market-analysis/diesel-genset-market

U.S Diesel Genset Market

The U.S. diesel genset market is projected to reach $3,005.5 million by 2024, registering a CAGR of 6.2% during the forecast period. The demand for diesel gensets in the country is primarily driven by the growing requirement for standalone power and backup power in construction sites, industries, residential buildings, retail stores, office spaces, hospitals, and hotels.

https://www.psmarketresearch.com/market-analysis/us-diesel-genset-market

Nigeria Diesel Genset Market 

The country’s power sector is riddled with issues such as inefficient operations, weak transmission and distribution network, and a huge demand–supply gap, with demand outstripping the domestic electricity production by a significant value. According to industry experts, the country electricity demand was more than 40,000 MW in 2018, whereas the energy generated hovered around the 7,000 MW–8,000 MW mark. This clearly hints at the growing consumer dependence on diesel generator sets in the country.

https://www.psmarketresearch.com/market-analysis/nigeria-diesel-genset-market

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