Residential Diesel Genset Market of India is Witnessing Significant Growth Due to Large-Scale Housing Construction

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Residential Diesel Genset Market of India is Witnessing Significant Growth Due to Large-Scale Housing Construction
Geographically, Uttar Pradesh held the largest share in the residential diesel generators market in 2020, and it is expected to retain its position during the forecast period.

The Indian residential diesel genset market value stood at $91.3 million in 2020, and it is predicted to rise to $184.9 million by 2030, registering a CAGR of 7.1% from 2020 to 2030. The major factors fueling the expansion of the market are the increasing number of residential settings owing to the rapid urbanization and increasing implementation of government initiatives, mushrooming demand for bi-fuel, inverter, and hybrid generators, and high incidence of power cuts in the country.

The COVID-19 pandemic has hampered the progress of the market, as the policies and regulations implemented by the government to mitigate the spread of the virus, such as lockdowns and movement restrictions, have disrupted the construction of residential buildings. This was made worse by the exodus of laborers to their hometowns and constraints in the supply of construction materials. Similarly, the trade of generators also reduced as people curbed their spending on non-essential stuff.

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Key Findings of India Residential Diesel Genset Market Report

  • The rising prevalence of power cuts, on account of the presence of an inadequate ad aging electricity generation and transmission infrastructure, is fueling the demand for residential diesel gensets in India.
  • The stationary category, under the type segment, is predicted to be the faster-growing category in the coming years as these gensets provide a continuous power supply, which allows operations to run without any interruptions.
  • The 11 kilovolt-Ampere (kVA)–20 kVA category is predicted to exhibit the higher growth rate in the Indian residential diesel genset market, within the power rating segment, in the forthcoming years. This is credited to the surging number of residential buildings in which the adoption of these diesel gensets is considerably higher than those in other power ranges.
  • In India, the sales of residential diesel gensets were the highest in Uttar Pradesh in the past, and this trend is predicted to continue in the upcoming years. This is attributed to the growing need for residential housing and electricity in the state.
  • Tamil Nadu will be the fastest-growing state in the Indian residential diesel genset market in the upcoming years owing to the surging requirement for residential buildings in the state.
  • The growing consumer preference for high-power-rating gensets is a major trend in the industry.

The soaring investments being made by industrialists and the surging number of initiatives being launched by the government are propelling the expansion of the residential sector in India, which is subsequently fueling the growth of the Indian residential diesel genset market. As per the India Brand Equity Foundation (IBEF), the value of the real estate industry in India will rise from $1.72 billion in 2019 to $9.30 billion by 2040.

Browse detailed report on India Residential Diesel Generator Set Market Size and Growth Forecast to 2030

Some of the major industry players are Kirloskar Oil Engines Limited, Greaves Cotton Limited, Ashok Leyland Limited, Mahindra Powerol Ltd., Caterpillar Inc., Cummins India Ltd., Cooper Corporation Pvt. Ltd., FG Wilson, Kohler Power India Ltd., and Tractors and Farm Equipment Limited.

Market Size Breakdown by Segments

Based on Type

  • Stationary
    • 5 kVA–10 kVA
      • Prime & continuous
      • Standby
    • 11 kVA–20 kVA
      • Prime & continuous
      • Standby
  • Portable
    • 5 kVA–10 kVA
      • Prime & continuous
      • Standby
    • 11 kVA–20 kVA
      • Prime & continuous
      • Standby

Geographical Analysis

  • Tamil Nadu
  • Andhra Pradesh
  • Karnataka
  • Maharashtra
  • Uttar Pradesh
  • Madhya Pradesh
  • Rajasthan
  • West Bengal
  • Gujarat
  • Rest of India

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U.S. Diesel Generators Market – P&S Intelligence says that due to the rising number of data centers, the U.S. diesel genset market will grow at a 7.2% CAGR between 2020 and 2030 (forecast period), to reach $3,797.6 million by 2030 from $2,187.4 million in 2019.

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