India Power Generation Engines Market Volume Sales Crossed 160 Thousand Units in 2019
Increasing
number of construction projects coupled with growing demand for uninterrupted
power supply to drive demand for power generation engines in India
According to TechSci Research
report, “India
Power Generation Engines Market By Fuel Type, By Power, By End Use, By
Region, Competition, Forecast & Opportunities, 2025”, India power generation
engines market stood at an estimated 164 thousand
units in 2019. The market is forecast to grow on account
of increasing construction projects as well as rapid rate of industrialization across
the country. Moreover, high
transmission and distribution losses and insufficient power grid infrastructure and need
for uninterrupted power supply is fueling the demand for auxiliary power supply
engines. Additionally, presence of major manufacturers of power generation
engines in India is also anticipated to supplement the demand for power
generation engines in the country.
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On account of rapid
industrialization and urbanization, there is an urgent need for providing
continuous power supply to sectors such as manufacturing,
healthcare or education in
the country, irrespective of the size
of the business. Consequently, demand for power generators is also increasing
at a rapid pace, which in turn, is fueling the demand for power generation
engines in India. Based on end use, commercial power
generation engines acquired the largest share in volume terms in the market until
2019 as services sector holds a dominant
share in Indian economy. In
terms of fuel type, the market can be segmented into diesel, petrol and gas. Among these, diesel
engine accounted for the largest market share in volume terms in 2019 on
account of low operational cost, high coming from commercial and industrial
segments coupled with easy
availability diesel as a fuel.
In terms of
regional analysis, the market has been segmented into North, East, West and
South region. Among these, North India acquired the largest market share in
2019 and is expected to hold its dominance during the forecast period as well
attributable to rapid urbanization, growing number of business enterprises coupled
with multiple ongoing government infrastructural
projects across the region.
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Mahindra
& Mahindra Limited,
Cummins India Limited, Kirloskar Oil Engines Limited, Caterpillar India Private Ltd and others which include Escorts Group, Ashok Leyland Ltd, Atlas Copco
(India) Ltd., Greaves Cotton
Limited, etc., are the
leading players operating in India power generation engines market. Increase in
the production capacity of domestic equipment and power generation manufacturers
and diversification of existing product portfolio are anticipated to boost the demand
for power generation engines in India. However, outbreak of Novel Coronavirus and
its negative effect on global and Indian economy wil hamper the market growth
in 2020.
“Rising demand for uninterrupted
power supply from various urban and rural housing boards, societies, coupled
with surging demand for power generation engines from various application
industries such as healthcare, food and beverages, hydel power generation
industries, etc., are anticipated to drive power generation engines market in
India through 2025.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Power Generation Engines Market By Fuel Type,
By Power, By End Use, By Region, Competition, Forecast & Opportunities,
2025”, has
evaluated the future growth potential of India power generation engines market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide latest market intelligence and
help decision makers to take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India power generation engines market.
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