India DG Set Market Share, Growing Demand, and Top Key Players
The India diesel genset market is advancing at a CAGR of 8.8% between 2022-2030 and will reach USD 1,839.5 million by 2030, mainly driven because of the demand for sable electricity and advancements in the technology.
The DG sets used in the commercial applications will grow the fastest in the years to come with a CAGR of 10%, these gensets provides uninterrupted power supply in several commercial applications including shopping malls, data centers, and healthcare sector to avoid irregular power supply.
Additionally, there is a growing demand for diesel gensets from residential application category for the backup and primary power supply in buildings..
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Based on power rating segment, 5 kVA–75 kVA category holds the largest share by volume. it is attributed to the low maintenance cost and easy availability of spare parts for these gensets throughout the country.
Additionally, demand to mitigate the primary and auxiliary power needs with the surge in economic developments will power the India DG set market in the years to come.
Karnataka will grow the fastest due to the rising investments in the telecom sector, developing commercial infrastructure and the rising demand for power backup in residential buildings. Further, state's infrastructure improvement initiatives will drive the need for diesel gensets in the coming years.
Hence, the Indian diesel genset industry is growing substantially, because of the country's economic development and increasing power needs across various sectors.
