India to Lead Gas Genset Market at a CAGR of 9.06% By FY2026
Improved techniques with
enhanced productivity, growing investments across upstream oil and gas sector,
technological advancements and favorable government initiatives to bolster India
gas genset market growth through FY2026
According to a report
published by TechSci Research on “India Gas Genset Market
By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750kVA, >750kVA), By End User (Industrial,
Commercial, Domestic), By Region, FY2016-FY2026”, India gas genset
Market stood at over USD246.25 million in FY2020 and is forecast to reach USD339.12
million by FY2026. Anticipated growth in the market can be attributed to
growing pipeline infrastructure and increasing awareness about gas being a
cleaner fuel. Moreover, the lower operating cost of gas gensets as compared to
diesel gensets, along with growing construction activities, is further boosting
demand for gas gensets in India. Additionally, the rising government focus on
reducing harmful emissions and promoting the use of gaseous fuel is further
anticipated to aid the growth of India gas genset market during the forecast
period.
Based on Type, in terms of gas genset Rating, >750kVA segment
captured the largest market revenue share. With ongoing demand for medium
rating gas genset from Commercial, Industrial and Domestic segments, >750kVA
segment is projected to exhibit high growth during the forecast period.
Few of the major
players operating in the India gas genset market include Clarke Energy India
Private Limited, Caterpillar India Private Limited, Green Power International
Pvt Ltd., GGE Genset Private Limited, Wartsila India Private Limited, Cooper
Corporation Private Limited, Perfect Gas Generators, Sterling & Wilson Pvt
Ltd., MTU India Private Limited, Cummins India Limited (CIL), Mahindra
Powerol Limited, Prakash Diesels Private Limited, Powerline Group of Industries
and Kirloskar Oil Engines Limited (KOEL).
Various secondary sources such
as white papers and secondary literature on gas gensets, Ministry of
Commerce, CEA, Reserve Bank of India, Ministry of Housing & Urban Poverty
Alleviation, Federation of Indian Chambers of Commerce and Industry (FICCI),
Ministry of New and Renewable Energy, Ministry of Power, Annual Reports,
International Monetary Fund and World Bank were studied by TechSci
Research.
Browse
20 market data Figures spread through 70
Pages and an in-depth TOC on"India Gas Genset Market"
https://www.techsciresearch.com/report/india-gas-gensets-market/3398.html
Among the regions, West India
accounted for the majority of the India gas genset Market with a market share
of around 40.1% in 2020 and is anticipated to maintain its position during the forecast
period as well. Burgeoning shale gas exploration and production in the US, has
favored the gas genset market in West India. Additionally, factors such as
increased exploration activity and focus on the development of new oil and gas
fields are expected to drive the market for gas genset in West India, said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
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“India
Gas Genset Market By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750kVA,
>750kVA), By End User (Industrial, Commercial, Domestic), By Region (North,
South, East, West), 2016-2026” has evaluated the future growth potential of India gas genset
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 decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India gas genset market.
About TechSci Research
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700 global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our workforce
of more than 100 fulltime Analysts and Consultants employing innovative
research solutions and tracking global and country specific high growth markets
helps TechSci clients to lead rather than follow market trends.
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