Press Release

India Industrial Engines Market’s Annual Growth Rate Stands at 10%

Increasing numbers of infrastructure projects by government as well as private players coupled with rise in industrial activities to drive demand for industrial engines in India

According to TechSci Research report, India Industrial Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025, India industrial engines market witnessed a growth rate of around 10% over the five years on the back of increasing government spending on various urban and rural infrastructure and development projects as well as investments in infrastructure projects by private companies in India.  Moreover, rising production and consumption of industrial equipment such as mining and earth moving equipment, concrete equipment, material handling equipment due to surging demand from various end user industries such as mining, construction, etc., coupled with presence of reputed industrial equipment and industrial engine manufacturers in India is anticipated to fuel the country’s industrial engines market over the next five years.

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India industrial engines market can be segmented based on by fuel type, by power, by end use and by region. India being a low waged and semi-skilled worker dominant country, has enormous opportunity for industrial mechanization, on account of which, industrial equipment such as mining and earth moving equipment, concrete equipment, material handling equipment are expected to witness robust demand through 2025, thereby driving the industrial engines market in the country. In terms of end use, the market is segregated into mining and earth moving equipment, concrete equipment, material handling equipment and others. Among these, mining and earth moving equipment segment held the largest share in the market in 2019 as mining and earth moving equipment are necessary for large scale constructional projects, real estate projects and several other projects where transportation and lifting of heavy equipment and raw materials as well as their handling is required. In terms of fuel type, the market can be segmented into diesel, petrol and gas. Out of these, the diesel engine segment accounted for the largest market share in 2019 on account of need for high powered engines that are necessary for constructional work, lower price of diesel compared to other fuels along with its easy availability.

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In terms of regional analysis, the market has been segmented into North, East, West and South regions. South region accounted for the largest share in India industrial engines market due to existence of a large industrial engine manufacturing facilities of reputed players in Indian industrial machinery market like Cummins India Private Limited, JCB India Limited, Kirloskar Oil Engines Limited, etc.

Mahindra & Mahindra Limited, Cummins India Limited, Kirloskar Oil Engines Limited, Caterpillar India Private Ltd and others which include TATA Motors Ltd, Ashok Leyland Ltd, Perkins Engines Company Limited, Greaves Cotton Limited, etc., are the leading players operating in India industrial engines market. Increase in the existing production capacity of domestic industrial equipment and machinery manufacturers, expansion of product portfolio and introduction of new industrial machinery equipment product lines are also fueling the demand for industrial engines in India. However, due to economic slowdown and lock down in entire country due to  COVID-19 pandemic in India, the entire Indian economy including the industrial machinery and equipment industry is experiencing a degrowth at present, which has also directly affected the India industrial engines market.

“Increasing spending on infrastructure and announcement of various urban and rural housing projects by the Government of India is expected to stimulate the demand for various industrial equipment and machinery, which in turn is expected to fuel industrial engines market in India. Moreover, initiatives such as Smart City Mission and Pradhan Mantri Awas Yojana (PMAY) for urban areas are expected to fuel the market until 2025. ”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Industrial Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025has evaluated the future growth potential of India industrial 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 industrial engines market.

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