In its recently published report titled ‘India Diesel Genset Market (2018-2023)’, 6Wresearch highlights manufacturing and infrastructure development activities to drive the growth of diesel genset market in India in the coming years. Indian diesel genset market is expected to witness sound growth owing to expansion of infrastructure, establishment of new industries and changing business environment in the country. Strong economic growth, coupled with large-scale infrastructure projects would foster the demand for diesel gensets over the forecast period. Additionally, the growing number of telecom towers in the country is expected to boost the diesel genset market, especially for small KVA ratings.
According to 6Wresearch, Indian diesel genset market is forecast to grow at a CAGR of 4.5 per cent during 2018-23. Over the years, the demand for power has increased tremendously in India. Requirement for continuous power in manufacturing sector would be the key driver for diesel genset market in the country. Upcoming industrial projects such as Delhi-Mumbai Industrial Corridor and Vizag-Chennai industrial corridor in line with state run companies and private players seeking to expand manufacturing base is propelling the growth of diesel genset market in India.
Ravi Bhandari, Assistant Manager, 6Wresearch, said, “During last couple of years, diesel genset market in India registered a sluggish growth due to improved power demand-supply situation especially in the 5-75 KVA rating segment. Further, with the adoption of alternative fuel powered genset and increasing generation of electricity from solar power have affected the growth of the market during this time frame. However, in the forecast period, ‘Make in India’ campaign, smart cities project, expansion of public and private infrastructures would fuel diesel genset market in India