India Diesel Generator Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Diesel Generator Market Analysis
India's Diesel Generator Market size is expected to grow from USD 1.10 billion in 2023 to USD 1.42 billion by 2028, registering a CAGR of 5.20% during the forecast period (2023-2028).
- Over the medium period, factors such as uninterrupted and reliable power supply and heavy deployment of DG (diesel generator) set in healthcare services and the IT sector are accountable for the market's progress. Improvement in technology can lead to an upsurge in the market's growth during the forecast period.
- On the other hand, the Indian diesel generator market may face hurdles in the near future due to the growing trend of renewable power generation, particularly in industries that have targeted reducing greenhouse gas emissions.
- Nevertheless, diesel generators are widely used as a prime and standby source in the manufacturing sector. India is predicted to be the global manufacturing hub by 2030 due to the efforts poured in by the Make in India program launched by the Government of India. Such developments are anticipated to create significant opportunities for the market.
India Diesel Generator Market Trends
The Commercial Segment is Expected to Dominate the Market
- The commercial segment is expected to be the largest market during the forecast period due to the rapid growth in the service sector, which is expected to rise even more during the forecast period. Diesel generators are mainly used in the commercial sector to have an uninterrupted power supply during business hours.
- The service sector includes hospitals, hotels, restaurants, IT and telecommunication centers, banking, and insurance. The gross value added from finance, real estate, and professional services had the highest share in India in the fiscal year 2022. With 53 percent overall, the service sectors made up a large chunk of GVA for the country that year. One of the fastest-growing sectors in services is the IT and business services market. According to India Brand Equity Foundation, the Government of India, the IT and business services market is expected to cross USD 19.93 billion by 2025.
- In March 2023, NTT planned to open six data centers in India over the next three months, with three more planned. The corporation will open six new data centers, bringing the total number of data centers in operation in the country to 11. These additional data centers will be built in Mumbai's Airoli and Mahape, as well as Bengaluru and Chennai.
- Diesel generators are heavily deployed in healthcare services, particularly hospitals, to avoid intermittent power supply. The Government of India plans to increase public health spending to 2.5% of the country's GDP by 2025.
- All these developments are expected to foster growth in the diesel generator market of India in the coming years.
The Growing Trend of Renewable Power Generation is Expected to Hinder the Market
- The increasing renewable installed capacity with supportive government policies towards greener energy is expected to restrain the market's growth in the forecast period.
- The power capacity additions in India were not as per the expectations of the Indian government. Thus, the government is trying to boost the sector by including various thermal and renewable projects. The installed Renewable energy capacity (including large hydro) has increased from 76.37 GW in March 2014 to 167.75 GW in December 2022, i.e., an increase of around 2.20 times.
- According to Central Electricity Authority, in FY 2022-23, the country's total renewable energy generation accounted for 203,552 million units (MU), with an annual growth rate of 19% compared to the previous year.
- Moreover, in February 2022, A subcommittee of the Centre's air quality panel issued an order on the Commission for Air Quality Management's (CAQM) Graded Response Action Plan (GRAP). They have removed the ban on diesel generator sets in Delhi-NCR with immediate effect after examining the state of the air quality.
- Owing to these developments, the growing trend of renewable power generation is expected to restrain the growth of the diesel generator market in India.
India Diesel Generator Industry Overview
The Indian diesel generator market is moderately fragmented. Some of the key players in the market (in no particular order) include Honda India Power Products Ltd, Yamaha Motor Co. Ltd., Mitsubishi Heavy Industries Ltd, Mahindra & Mahindra Limited, Kirloskar Oil Engines Ltd., and others.
India Diesel Generator Market Leaders
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Honda India Power Products Ltd.
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Yamaha Motor Co Ltd.
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Mitsubishi Heavy Industries Ltd.
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Mahindra & Mahindra Ltd.
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Kirloskar Oil Engines Ltd.
*Disclaimer: Major Players sorted in no particular order
India Diesel Generator Market News
- June 2022: Oil Engines Ltd (KOEL) launched a new iGreen genset. The iGreen version 2.0 is powered by the R550 series of engines and offers good fuel efficiency and high power quality.
- December 2021: Government E-Marketplace (GEM) floated a tender for the installation project of diesel generator sets at the head office of the Ministry of Commerce & Industry in New Delhi, India. The tender requires the supply of at least five DG sets for the backup power supply.
India Diesel Generator Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 Uninterrupted and Reliable Power Supply and Heavy Deployment of DG (diesel generator) Set
- 4.5.1.2 Improvement in Technology of Diesel Generator
- 4.5.2 Restraints
- 4.5.2.1 The Growing Trend of Renewable Power Generation
- 4.6 Supply Chain Analysis
- 4.7 PESTLE Analysis
5. MARKET SEGMENTATION
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5.1 Power Output
- 5.1.1 Portable Generators
- 5.1.2 Inverter Generators
- 5.1.3 Industrial Generators
- 5.1.4 Induction Generators
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5.2 Application
- 5.2.1 Standby
- 5.2.2 Prime Power
- 5.2.3 Continuous
- 5.2.4 Peak Shaving
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5.3 End-User
- 5.3.1 Residential
- 5.3.2 Commercial
- 5.3.3 Industrial
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5.4 Ratings
- 5.4.1 0-75kVA
- 5.4.2 75-375kVA
- 5.4.3 Above 375kVA
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Honda India Power Products Ltd.
- 6.3.2 Yamaha Motor Co. Ltd.
- 6.3.3 Mitsubishi Heavy Industries Ltd.
- 6.3.4 Mahindra & Mahindra Ltd.
- 6.3.5 Kirloskar Oil Engines Ltd.
- 6.3.6 Cummins India Ltd.
- 6.3.7 Greaves Cotton Limited
- 6.3.8 Ashok Leyland Ltd.
- 6.3.9 Caterpillar Inc.
- 6.3.10 Perkins Engines Company Ltd.
- 6.3.11 Atlas Copco AB
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Emphasis on Diesel Generators in Manufacturing Sector
India Diesel Generator Industry Segmentation
A diesel generator is a device that combines a diesel engine and an electric generator to generate electricity. This is an example of an engine generator. A diesel compression-ignition engine is typically built to run on diesel fuel, but specific models are also designed to run on other liquid fuels or natural gas.
The India diesel generator market is segmented by power output, application, end user, and ratings. The market is segmented by power output into portable, inverter, industrial, and induction generators. The market is segmented by application into standby, prime power, continuous, and peak shaving. By end-user, the market is segmented into residential, commercial, and industrial. Ratings segment the market into 0-75 kVA, 75-375 kVA, and Above 375 kVA. The market sizing and forecasts have been done for each segment based on revenue (USD).
| Power Output | Portable Generators |
| Inverter Generators | |
| Industrial Generators | |
| Induction Generators | |
| Application | Standby |
| Prime Power | |
| Continuous | |
| Peak Shaving | |
| End-User | Residential |
| Commercial | |
| Industrial | |
| Ratings | 0-75kVA |
| 75-375kVA | |
| Above 375kVA |
India Diesel Generator Market Research FAQs
What is the current India Diesel Generator Market size?
The India Diesel Generator Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in India Diesel Generator Market?
Honda India Power Products Ltd., Yamaha Motor Co Ltd., Mitsubishi Heavy Industries Ltd., Mahindra & Mahindra Ltd. and Kirloskar Oil Engines Ltd. are the major companies operating in the India Diesel Generator Market.
What years does this India Diesel Generator Market cover?
The report covers the India Diesel Generator Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Diesel Generator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which segment dominates the Diesel Generator Market in India based on power rating?
Based on power rating 5 KVA to 75 KVA segment dominates the Diesel Generator Market in India.
India Diesel Generator Industry Report
The India Diesel Generators / Genset Market is experiencing notable growth, primarily driven by rapid urbanization, industrial expansion, and the increasing demand for reliable backup power solutions. This market is segmented by power output, application, end user, and ratings, with significant segments including residential, commercial, healthcare, government and transport, industrial, and equipment rental companies. The commercial segment is expected to lead due to the rising number of infrastructure projects and the necessity for uninterrupted power in establishments such as hospitals, hotels, and IT centers.
The medium KVA range is particularly popular for its balance of capacity and efficiency, catering to a diverse range of applications from small businesses to large industrial operations. Diesel generator manufacturing companies in India are investing heavily in research and development to meet evolving demands and regulatory standards. The industry research indicates that the market size is set to continue its upward trajectory, driven by the essential need for reliable power across various sectors.
Market growth is supported by comprehensive market research, which includes a detailed market share analysis and market size evaluation. Industry analysis provides an in-depth industry overview and industry report, offering insights into market trends and market forecast. The market leaders in this sector are focusing on innovation to maintain their competitive edge.
The industry information and industry outlook highlight the significant opportunities and challenges within the market. Market segmentation further details the various applications and end-user categories, while market value assessments offer a clear picture of the economic impact. Industry statistics and industry trends are crucial for understanding the market dynamics.
Market data and market predictions are essential for strategic planning and investment decisions. The market review and market outlook provide a comprehensive view of the market's current state and future prospects. Research companies play a pivotal role in providing accurate and up-to-date market information.
For a detailed report example, including a report PDF, interested parties can refer to the Mordor Intelligence™ Industry Reports, which offer extensive insights and forecasts. The growth rate of the diesel generator market in India is indicative of the industry's robust potential and the increasing reliance on diesel generators for uninterrupted power supply.
