India Diesel Genset Rental Market to Reach $ 850 Million by 2024
Unreliable power supply to
drive diesel genset rental market in India through 2024
According to
TechSci Research report, “India
Diesel Genset Rental Market By Ratings, By Verticals, By Region,
Competition, Forecast & Opportunities, 2024,” India diesel
genset rental market is forecast to surpass
$ 850 million by 2024, owing to the rising construction activities on account
of smart cities and infrastructure development across various parts of the
country. Additionally, gensets are also used to provide back-up power across a widespread
range of application areas such as construction, residential and commercial
verticals. However, improving power
supply scenario in the residential sector is likely to hamper the growth of
market during forecast period. Additionally, growing adoption of solar energy
and other forms of renewable energy can further restrict the growth of market.
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The India
diesel genset rental market is segmented based on ratings, verticals, region
and company. Based on ratings, the market can be fragmented into below 100KVA,
100.1-350KVA, 350.1-750KVA, 750.1-1000KVA and above 1000KVA. The 100.1-350KVA segment
is expected to dominate the market attributable to the low ownership cost, ease
of availability, and higher usage across numerous applications such as construction,
telecom infrastructure, among others. Based on verticals, the market can be
categorized into power utilities, construction, manufacturing and others. The
construction segment dominates the market owing to the increasing infrastructure
spending and booming construction industry in India.
Aggreko Energy
Rental India Pvt. Ltd., Perennial Technologies Pvt. Ltd., Tractors India Pvt.
Ltd., Marco Gensets Pvt. Ltd., Sudhir Power Ltd., Pioneer Power Service Pvt.
Ltd., Cummins India Limited, Kirloskar Oil Engines Limited (KOEL), Ashok
Leyland Ltd., Kohler India Corporation Pvt Ltd. and others are some of the
leading players operating in India diesel genset rental market.
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“India is one of
the largest and fastest growing economies in the APAC region and is expected to
create huge opportunities for the diesel genset rental market over the next five
years. Additionally various ambitious initiatives taken by the government of
India such as the Smart Cities Mission, Make in India campaign, Saubhagya
Scheme as well as Housing for All 2022, among others are few of the initiative
that will positively influence the country’s diesel genset rental market in the
coming years.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“India Diesel Genset Rental Market By Ratings,
By Verticals, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India Diesel
Genset Rental market and provides statistics & 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 decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India Diesel Genset Rental
market.
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