According to Renub Research latest report, "India Gas Genset Market, Size, forecast 2023-2030, Industry Trends, Share, Growth, Company Analysis," India Gas Genset Market is anticipated to grow at and reach US$ 456.5 Million by 2030. A genset, or generator set, consists of an engine that runs on a fuel source, such as diesel, gasoline, or natural gas, and an alternator that generates electricity, converting mechanical energy into electrical energy. People commonly use gensets without access to grid electricity or a backup power supply. Gensets provide temporary or permanent power solutions for various applications, from tiny residential homes to extensive industrial facilities, and come in multiple sizes and power outputs. Users of gensets are also present in remote locations, such as oil rigs, mining sites, and construction sites.
Natural gas, propane, and other gases used to power gensets are generally less expensive than diesel or gasoline, which can significantly save fuel costs over time. In addition, gas gensets in India are more efficient than traditional diesel or gasoline generators, requiring less fuel to produce the same power and resulting in lower operating costs. Gas gensets have a longer lifespan than conventional generators, with some models capable of running continuously for several years. Gas gensets produce less noise than diesel or gasoline generators, making them a better option for residential or urban areas. Gas gensets are highly reliable and can provide uninterrupted power for extended periods, making them ideal for critical applications such as hospitals, data centers, and other essential infrastructure.
India Gas Genset Market was US$ 220.2 Million in 2022
Population growth, urbanization, and industrialization are driving the increasing demand for electricity in India. However, the country's electricity grid is still developing and contemplating power outages. Residential and commercial users find gas gensets attractive for providing a reliable and uninterrupted power supply. The Indian government is promoting using cleaner energy sources, such as natural gas, to meet climate change goals and reduce pollution. To encourage the use of gas gensets, the government has implemented several policies and incentives, including subsidies for purchasing and operating gas gensets and tax benefits for companies using them.
India is investing heavily in building pipelines and infrastructure to transport and distribute natural gas, which has substantial reserves leading to a significant availability of natural gas, making it an attractive fuel source for power generation. In addition, India's industrial and commercial sectors are growing, resulting in an increased demand for a reliable and uninterrupted power supply. Gas gensets are becoming an increasingly attractive option for these sectors as they can provide a cost-effective and reliable power supply.
Versatility of Gas Gensets in India contributes to the prevalence of medium-range KVA Sets
Medium-range KVA gas gensets are popular in India because they can power a wide range of applications, from small businesses to large industries while being cost-effective in terms of initial investment, maintenance, and fuel consumption. They also offer a reliable and uninterrupted power supply, making them an excellent choice for applications that require continuous operation. Additionally, their high fuel efficiency makes them an attractive option for users seeking to keep operating costs low.
India is investing heavily in building pipelines and infrastructure to distribute its substantial natural gas reserves, making it an attractive, clean energy source to reduce pollution and meet climate change goals. To promote gas genset usage, the government offers subsidies for purchasing and operating them and tax benefits for companies using them.
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Usage of Gas Genset in India is growing in the Commercial Sector
Gas gensets are becoming increasingly popular in the commercial sector in India due to their reliability and cost-effectiveness in terms of initial investment, maintenance, and fuel consumption. Furthermore, the Indian government's push towards cleaner energy sources, including natural gas, has resulted in various policies and incentives; such as subsidies and tax benefits that encourage using gas gensets.
Additionally, infrastructure investments have increased the availability of natural gas, making it an attractive fuel source for power generation. Finally, India's expanding industrial and commercial sectors require a reliable and uninterrupted power supply, making gas gensets suitable for meeting their needs.
Gas gensets have substantial demand in Delhi's Commercial and Industrial Sectors
One of the critical reasons for the increase in the usage of gas gensets in Delhi is the unreliable electricity supply in the city, which has led businesses and industries to turn to gas gensets as a reliable backup power source. Another reason is the availability of natural gas in the city, which has made gas gensets more affordable and attractive than diesel gensets. Additionally, the Indian government's push towards cleaner energy sources, such as natural gas, has resulted in policies and incentives to encourage gas gensets. Finally, Delhi's growing industrial and commercial sectors have increased the demand for reliable and uninterrupted power supply, making gas gensets a popular choice for businesses and industries.
Competitive Landscape:
The competitive landscape in the gas gensets market in India is quite diverse, with several international and domestic players competing for market share. Some of the leading players in the market include Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., and Caterpillar Inc.
These companies offer a range of gas gensets with varying power capacities, features, and prices to cater to different customer segments. With the increasing demand for gas gensets in India, the competition among these players will intensify, leading to more innovation, better technology, and more competitive pricing.
Market Summary:
- Kva Range- The Report covers India Gas Genset Market, by Kva range in 3 viewpoints (Low KVA {10-50}, Medium KVA {50-500}, and High KVA {above 500}).
- End-User- By end-user, the India Gas Genset Market, breakup in 2 viewpoints (Commercial, and Industrial).
- States-The Report covers India Gas Genset Market, by states in 9 viewpoints (Assam, Gujrat, Delhi, U.P., Haryana, Karnataka, Madhya Pradesh, Maharashtra, and Others).
- Key Players- All the major players in the report India Gas Genset Market have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue)Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., and Caterpillar Inc.
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