India Diesel Geneset Market: Trends, Opportunities, Drivers, Challenges – 6Wresearch
India Diesel Geneset Market Introduction
The India Diesel Geneset Market is expected to grow at a CAGR of XXXX% during 2019-2025. The growth is due to the increase in the construction sector, which is one of the major drivers for this market. The other drivers for the market are increasing demand for renewable energy, and rising industrialization in India. Some of the leading players in this market are Mahindra & Mahindra Ltd., Cummins Inc., and General Electric Company.
India Diesel Geneset Market Overview
The diesel genset market in India is projected to reach $XXXX billion by 2022, registering a CAGR of XXXX% during the forecast period. The growth of the diesel generator market in India is largely attributed to factors such as rising industrialization and infrastructure development, increasing demand for power generation in rural and semi-urban areas, and implementation of green energy initiatives.
The top players in the Indian diesel generator market are Mahindra & Mahindra Ltd., Welspun Energy Pvt. Ltd., Larsen & Toubro Ltd., ABB Ltd., Caterpillar Inc., and Cummins Inc. These companies are engaged in manufacturing, marketing, and servicing diesel generators across the country. Some of the key strategies adopted by these companies to capitalize on the growing demand for diesel generators in India include expanding their product portfolio, enhancing their distribution channels, and developing partnerships with other industry players.
India Diesel Geneset Market Drivers and Challenges
The diesel genset market is witnessing significant growth owing to the increasing demand for renewable energy such as solar and wind power. The Government of India has announced plans to install 100 gigawatts (GW) of renewable energy by 2022. This growing demand is expected to drive the diesel generators market in India.
Another factor that is contributing to the growth of the diesel generators market in India is the increasing awareness about the benefits of using diesel generators in lieu of gas-powered generators during power outages. The government’s focus on reducing carbon footprints is also driving the demand for diesel generators across various industries, including retail, hospitality, and transportation sectors.
However, some challenges that are currently affecting the growth of the diesel generator market in India include high fuel prices and stringent emission norms. Furthermore, there are concerns over reliability and maintenance issues associated with these machines.
India Diesel Geneset Market Segmentation
The diesel generator market in India is expected to grow at a CAGR of XXXX% during the forecast period (2017-2022). The market is segmented on the basis of product, end user, and geography.
On the basis of product, the diesel generator market in India is segregated into commercial and industrial units. In terms of end users, the market is divided into government bodies and private organizations. Geographically, the diesel generator market in India is segmented into north and south regions.
Amongst the key players in the diesel generator market in India are Mahindra & Mahindra Ltd., Bharat Heavy Electricals Ltd., Hydro Global Solutions Pvt. Ltd., NTPC Limited, Enel Green Power S.p.A., Jindal Saw Mills Limited, Suzlon Energy Limited, Toshiba Corporation, and ABB Ltd.
Competitive Landscape of the India Diesel Geneset Market
The Diesel genset market in India is expected to grow at a CAGR of XXXX% from 2018 to 2024, owing to the increasing demand for power and the government’s focus on renewable energy. The market is mainly driven by the increase in industrial production and the rising population.
Some of the major players in this market include Mahindra & Mahindra Ltd., Siemens AG, General Electric Company, Mitsubishi Heavy Industries Ltd., and Toshiba Corporation. These companies are investing in new technologies and expanding their manufacturing capacities to meet the growing demand for diesel generators.
India Diesel Geneset Market Trends
In India, diesel generators are in high demand as the country continues to experience power outages and fluctuations in electricity supply. The diesel generator market is expected to grow at a CAGR of XXXX% from 2016 to 2021.
The top players in the Indian diesel genset market are GE, Siemens Gamesa, Mitsubishi Heavy Industries Ltd., and Toshiba Corporation. These companies are primarily focusing on the industrial and commercial segments of the market, while some of the smaller vendors are focused on the residential segment.
The major drivers for the growth of the Indian diesel genset market include increasing power outages and fluctuations in electricity supply, government initiatives such as renewable energy targets, and increasing demand from industries such as manufacturing and construction. The key restraining factors for the market are competition from other alternative energy sources such as solar and wind, lack of infrastructure development capacity, and rising prices of raw materials.
Value Chain Analysis of the India Diesel Genset Market
The India diesel generator market is expected to grow at a CAGR of XXXX% during the forecast period 2017-2021. The growth can be attributed to the rising number of industrial and commercial establishments, as well as the increase in the production of electricity and other utilities.
Major vendors in the Indian diesel generator market are Cummins, Siemens, Mitsubishi Heavy Industries Ltd., and GE Power Systems. These vendors are engaged in offering a wide range of diesel generators for various applications such as power generation, mining, transportation, water & environmental services, and others.
Some of the key drivers that are anticipated to propel the diesel generator market in India include:
1) Increasing demand for electricity from industrial and commercial establishments: This is due to increasing growth in urban areas and the rising need for power during peak hours.
2) Increasing production of utilities such as electricity and renewable energy: This is also attributable to government initiatives such as Make In India and Skilling Indians For Quality Jobs.
3) Growing requirement for diesel genset for transportation applications: This is due to the increasing adoption of electric vehicles and growing awareness about sustainability issues associated with oil-based transportation fuels.
4) Growing emphasis on green technology by enterprises: This propelling factor is seen to drive demand for environment-friendly products such as diesel generators.
Strategy Analysis of the India Diesel Generator Market
The India diesel genset market is expected to grow at a CAGR of XXXX% during 2016-2021. The market is driven by the increasing demand for renewable energy sources, rising industrialization and infrastructure development in the country, as well growing investments in the power sector.
The top players in this market are Siemens AG (Germany), General Electric Co. (U.S.), ABB Ltd. (Switzerland), Mitsubishi Heavy Industries, Ltd. (Japan), and Areva SA (France). These companies are investing in new diesel generators to drive their businesses in the country. In particular, Siemens is focusing on developing medium and large diesel generators for rural electrification projects across India. GE is also expanding its operations in India through its venture with Mahindra & Mahindra Ltd., which will manufacture heavy machinery and other products in the country.
The key market drivers include:
1) Increasing demand for renewable energy sources due to government initiatives such as the Paris Agreement and R&D initiatives undertaken by various players;
2) Rising industrialization and infrastructure development across the country;
3) Growing investments in the power sector; and
4) Growing interest from small businesses across various sectors such as agriculture, retail, commercial buildings, etc.
