India Diesel Gensets Market to Cross $2.9 Billion by 2021
Increasing demand-supply gap,
growing infrastructure-based development and rising demand for standby power
supply in off-grid and unreliable grid areas to drive India diesel gensets
through 2021
According to TechSci Research report, “India
Diesel Gensets Market By Rating, By End User, Competition Forecast
& Opportunities, 2011 – 2021”, the diesel gensets market in
India is anticipated to register market revenues of around $2.9 Billion by 2021.
Diesel gensets play a crucial role in providing reliable and high-quality power
backup during power outages as well as stand-alone power generation
systems. Diesel gensets are increasingly being used for meeting power
requirements from various end users across industrial, commercial and
residential sectors. Broadly, diesel genset finds application as standby power
system when prime source of power is unable to meet electricity requirements.
Diesel gensets are also used as prime power source as well as for peak shaving
purpose.
As per the
Indian Brand Equity Foundation (IBEF), India’s retail sector is anticipated to
increase from USD600 billion in 2015 to USD1,300 billion by 2020, exhibiting a
CAGR of 16.72% during 2015 – 2021. While, the FMCG sector of the country is
likely to grow at a CAGR of 20.61% during 2016 – 2020, reaching USD103.7
billion by 2020. In 2016, India surpassed the United States to become the
second largest smartphone market in the world, with around 220 million active
unique smartphone users registered in 2015. According to the Indian Brand
Equity Foundation (IBEF), the telecom infrastructure has expanded at a CAGR of
20% during 2008 – 2015, reaching 571,000 towers in 2015. On an average, the
country’s telecom tower network consumes over 11 billion kWh annually, and this
is likely to increase to 17 billion kWh by the end of 2016. Hence, with
anticipated high growth in the end user sectors of diesel gensets in India, the
demand for diesel gensets in the country is expected to grow at a healthy pace during
forecast period.
“Telecom
Regulatory Authority of India (TRAI) has mandated telecommunications companies
to switch from diesel gensets to renewable sources of power generation, as the
total switch-over cost from diesel gensets would save nearly 2 billion litre
per year of diesel, amounting to around USD1.19 billion annually. This is
expected to curb the carbon footprint in the country over the next few years.
In addition, the Department of Telecommunications has mandated many telecom
companies to increase the proportion of hybrid-powered tower sites to 75% in
rural areas and 33% in urban areas by 2020. All these developments are expected
to positively influence the country’s diesel gensets market over the span of next five years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Diesel Gensets Market By Rating, By
End User, Competition Forecast & Opportunities, 2011 – 2021” has evaluated the future growth potential of India diesel gensets market
and provides statistics and information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment evaluation. Besides, the report
also identifies and analyses the emerging trends along with essential drivers,
challenges and opportunities in India diesel gensets market.
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