India Gas Gensets Market to Grow at over 15% through 2020
Expanding city gas distribution network and growing industrial sector to boost demand for gas gensets in India through 2020
According to TechSci Research report, “India Gas Gensets Market Forecast and Opportunities, 2020”, gas gensets market in India is projected to witness a CAGR of more than 15% during 2015 – 2020. Growth in the market is anticipated on account of widening electricity demand-supply gap, low operational cost, rising industrialization, and increasing greenhouse gas emissions. Moreover, with expanding City Gas Distribution network, natural gas, which is the basic fuel used in gas gensets, is reaching to more and more consumers in the country. This is expected to boost the adoption of gas gensets in India during the forecast period.
In India, gas gensets market is still at the nascent stage, and the market is being propelled by the low cost and eco-friendliness of natural gas. By 2025, according to Ministry of Petroleum & Natural Gas (Government of India), natural gas will contribute 20% in the country’s energy mix. Moreover, Central Pollution Control Board (under the Ministry of Environment & Forests, Government of India) has laid out various norms for regulating the level of harmful emissions from diesel gensets, which is also expected to positively influence the gas-gensets market in India.
On the basis of rating, the country’s gas gensets market has been segmented into four broad categories, namely, low (1kVA-75kVA), medium (76kVA-350kVA), high (351kVA-750kVA) and very high (more than 750kVA) gas gensets. Among these gas gensets categories, medium (76kVA-350kVA) gas gensets segment is anticipated to dominate the country’s gas gensets market over the next five years on account of their wide acceptance across industrial and residential sector. Region-wise, West India dominated the gas gensets market in 2014, and the region is forecast to maintain its dominance during 2015 – 2020.
“In order to address the increasing electricity demand, investments worth US$ 237 billion are required during 2016-20 for increasing power generation, transmission and distribution infrastructure in the country. Absence of adequate infrastructure is expected to push the demand for gas gensets during forecast period, especially from various power hungry sectors, such as oil & gas, textile, healthcare, pharmaceutical industries, etc., said Mr. Karan Chechi, Research Director with TechSci Research, a global research based management consulting firm.
“India Gas Gensets Market Forecast and Opportunities, 2020” report has analyzed the potential of gas gensets market and provides statistics and information on market size, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with major drivers, challenges and opportunities in the India gas gensets market.
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