The India generator market is estimated to reach at a high CAGR of 6.50% over the forecast period of 2021-2028.
A diesel generator is a combination of a diesel motor with an electric generator (regularly an alternator) to produce electrical energy. A diesel compressionignition engine is usually designed to run on diesel fuel, but some types are adapted for other liquid fuels or natural gas. It is utilized for producing power to give persistent power supply during power interruptions.
It is generally utilized as a reserve gadget during power outages or at spots with no connection to a power network. The expanding utilization of the generator which can offer a hand extra in-home applications, in which it will deliver energy for sump pumps, lighting, specific required applications like climate control systems (ACs), refrigerators, and medical equipment is foreseen to make plentiful open doors in not-so-distant future.
The rise in demand for generator in end-use sectors and occurrences of power grid failure and energy deficiency are the key drivers for the market growth in the region. The demand for electricity has risen exponentially, owing to rapid industrialization and increasing per capita electric power consumption
The threat of substitution from battery storage systems is the major restraint that hindering the growth of the market.
The residential generator market is valued at US$ XX Million in 2019 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Million by 2027
The standby power generator market segment held XX% of the India generator market in 2019 and is expected to increase by XX% by 2027
The rise in demand for generator in end-use sectors and occurrences of power grid failure and energy deficiency are the key drivers for the market growth in the region. The growth prospects of the generator market are thus highly influenced by the rise in product demand in associated sectors, ensuring new opportunities for business expansion and market growth to significant market players. For instance, a data center, part of the telecommunications industry, requires power to run IT infrastructural equipment such as network and communication equipment, desktops, servers, EAPBX, lighting, air conditioners, security systems, CCTV surveillance, fire alarms, UPS, and other critical devices. A critical requirement of data center buildings is the electricity supply. Thus in case of power outages, the standby generator are an affordable as well as viable uninterrupted power backup option for the smooth functioning of the systems.
The growing rate of urbanization and shift in consumer spending pattern towards integrated consumer electronic goods have resulted in frequent power grid failure and shortage in supply of electricity for critical and emergency applications in hospitals, communication services, and emergency call centers. As such, it is vital to provide options for power backup and uninterrupted supply so that primary operations do not face challenges. The generator are thus adopted on an extensive scale, owing to the long service life of the generator in comparison to other alternatives and low operational noise
The threat of substitution from battery storage systems is the major restraint that hindering the growth of the market. The wide-scale adoption of battery storage systems, especially in remote areas which do not have access to power grids, acts as a barrier to the installation of diesel engines. The operation of generator at low load and fractional capacity causes considerable damage to the equipment, shortening the intervals between maintenance work and increasing expenses as a result. As such, the advent of low-cost alternatives and gradual upgradation of substitutes severely hamper the growth prospects of the market. The battery systems, combined with solar or wind power, provide independence from rising diesel costs, handle demand during peak hours without diesel fuel consumption, reduces energy wastage through performance optimization, while also storing excess energy for later use
In the India, the demand for electricity has risen exponentially, owing to rapid industrialization and increasing per capita electric power consumption. The rapid growth in industry, infrastructure, telecommunication, and the information technology sector is expected to escalate the demand for generator in the region over the forecast period. The market has been witnessing increasing production of a generator with improved engine life and other features such as synchronization with the grid, remote monitoring and control, and automated data analysis
On the basis of power rating, the market is categorized into less than 3 kVA, 3-5 kVA, 6-10 kVA, 11-25 kVA, 26-75 kVA, 76-100 kVA, 101-375 kVA, 375-750 kVA and Above 750 kVA
Depending on end-user, the market is classified into residential, commercial and infrastructure. The Residential Generators market is valued at US$ XX Million in 2019 and is estimated to grow at a CAGR of XX% over the forecast period to reach a US$ XX Million by 2027. The rapid global rate of urbanization and increasing consumer spending power have shifted the market dynamics in favor of generator, as awareness concerning enhanced performance while ensuring low operational costs are poised to ensure rising product demand during the forecast period.
The disruption in regular power supply and continued growth in sales of consumer electronic goods have ensured high installation of generator, as development in infrastructural capabilities has made it mandatory to provide uninterrupted power supply to residential buildings. For instance, on June 04, 2018, Generac Holdings Inc., manufacturer of affordable home standby generator and power generation equipment, announced the acquisition of Selmec Equipos Industriales, S.A. de C.V. and its wholly-owned subsidiaries from Enesa Energia, S.A. de C.V. and Enesa, S.A. de C.V.
For instance, on March 06, 2017, Caterpillar Inc. launched a new standby power node for the Cat 3512C diesel generator set that offers industry-leading power density. Rated at 1,750 kW for 60 Hz standby applications, the Cat 3512C generator set offers reliable backup power from an optimally sized engine and a reduced overall footprint that delivers numerous benefits, including lower overall site preparation, transportation, installation and maintenance costs, as well as reduced fuel consumption and lower emissions
Some of the major players are Caterpillar Inc, Cummins Inc, Kohler Co, Mitsubishi Heavy Industries, Ltd, Kirloskar Oil Engines Limited (KOEL) (Kirloskar Group), Wärtsilä Finland Oy, AKSA Power Generation, Yanmar Co., Ltd, Generac Holdings Inc., Mahindra Powerol Ltd.
The India generator market is highly competitive, with the presence of key market players boasting of an extended distribution network on a large scale. As such, it is vital for companies to launch new products in an attempt to capture substantial market share, strengthening global business position in the process
On February 08, 2019, Kirloskar Oil Engine Ltd introduced its latest product range of technologically advanced intelligent DG (diesel generator) in Delhi. The range is called the i-Green series
On November 2018 Cummins Inc. introduced the new QSG12 50Hz diesel generator series which offers optimum performance, reliability and versatility for stationary standby and prime power applications
On November 20, 2018, MHI Engine System Philippines, Inc. (MHIES-P), a company operated in the Philippines by Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a Group member of Mitsubishi Heavy Industries, Ltd. (MHI), has delivered two MGS (Mitsubishi Generator Series) diesel generator sets to SM Center Ormoc, a commercial facility newly opened in the city of Ormoc on the west coast of the Philippines' Leyte Island
Visualize the composition of the Generators Market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.
Identify commercial opportunities in Generators Market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Generators Market - level 4/5 segmentation.
A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key products of all major market players.
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Get your FREE SAMPLE PROPOSAL with a single click!