India Diesel Genset Market Overview
The India diesel genset market is expected to grow at a CAGR of XXXX% during the forecast period 2019-2024. This growth is attributable to the increase in demand for electric vehicles and increasing renewable energy installations. In terms of product segmentation, the onshore diesel genset market is expected to witness the highest growth rate, followed by the offshore diesel genset market.
This report provides an overview of the India diesel genset market, including an analysis of key industry players and their market shares. Additionally, it provides insights into market trends and future prospects. The report also includes forecasts for the Indian diesel genset market over the next four years.
India Diesel Genset Market Dynamics
The India diesel genset market is estimated to grow at a CAGR of XXXX% during the period 2017-2021. The market has been driven by the increasing demand for renewable energy in India, as well as the Government of India’s initiatives such as the ‘National Solar Mission’ and the ‘National Wind Energy Program me’.
The major market players in the Indian diesel genset market are Siemens AG, GE Power Systems, ABB Ltd., and Mitsubishi Heavy Industries Ltd. These players are engaged in offering a wide range of products and services to the market. Some of these products are compact diesel engines, subcritical diesel engines, and microturbines.
The following is a brief overview of key market trends:
1. Rising Renewable Energy Demand: The increased demand for renewable energy in India is one of the major factors driving growth in the Indian diesel genset market. The Government of India’s initiatives such as the ‘National Solar Mission’ and the ‘National Wind Energy Programme’ is also contributing to this trend.
2. Increasing Use of Microturbines: One factor that is fuelling growth in the Indian diesel genset market is the increasing use of microturbines. This is because microturbines have low emissions and produce less noise than traditional generators. They are also comparatively easy to maintain and operate.
3. Growing Adoption of Compact Diesel Engines: The growing adoption of compact diesel engines is another factor driving growth in the Indian diesel genset market. These engines are less expensive and easier to maintain than traditional generators. They are also preferable for applications that require low emissions.
4. Increased Use of Subcritical Diesel Engines: The increased use of subcritical diesel engines is expected to drive growth in the Indian diesel genset market. These engines are less polluting than conventional diesel engines and have higher efficiency ratings. They are, however, more expensive than conventional diesel engines.
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India Diesel Genset Industry Trends
The Indian diesel genset market is predicted to register a growth of XXXX% by the end of 2024, owing to increasing demand for renewable energy sources in the country. The market is also benefitting from growing investments in the clean energy sector. The government’s focus on renewable energy development and efforts to promote electric vehicles are anticipated to drive demand for diesel gensets in the country.
The key players in the Indian diesel genset market are Reliance Power (Reliance Jio), Gujarat Power Generation Co. Ltd (GPCL), GMR Infrastructure Development Co. Ltd (GIDC), and NTPC Limited (NTPC). The major market players are focusing on developing new products and expanding their product portfolios. Few companies are also investing in R&D activities to develop innovative products that can benefit the market.
India Diesel Genset Market Analysis & Forecasts
The Indian diesel genset market is expected to grow at a CAGR of XXXX% during 2016- 2024 due to increasing demand for renewable energy sources and initiatives by the government to promote electric vehicles. The leading players in the market include Reliance Power, Gujarat Power Generation Company Limited, GMR Infrastructure Development Company Limited, and NTPC Limited. These companies are focusing on developing new products and expanding their product portfolio as well as investing in R&D activities to develop innovative products that can benefit the market.
India Diesel Genset Market Insights
The diesel genset market in India should increase at a CAGR of XXXX% during the forecast period 2016-2021, owing to rising renewable energy penetration and increasing demand for efficient and environment-friendly power generation solutions.
In terms of market size, the diesel genset market in India is estimated worth Rs. XXXX crore in 2016 and is projected to reach Rs. XXXX crore by 2021, growing at a CAGR of XXXX%. The major drivers of the market are an increase in renewable energy penetration and increasing demand for efficient and environment-friendly power generation solutions.
Porter’s Analysis of the India Diesel Genset Market
The Indian diesel genset market is expected to grow at a CAGR of XXXX% between 2016 and 2021 owing to the increasing demand for clean energy in the country. However, the market is expected to face challenges owing to the high cost of diesel and the lack of availability of alternate fuels. The growth of renewable energy sources such as solar and wind is also restraining the growth of the diesel genset market.
The India diesel generator market is segmented on the basis of type, fuel type, installation size, end-user, and region. On the basis of type, the market is divided into reciprocating engines and turbocharged engine generators. On the basis of fuel type, the market is segmented into diesel and alternative fuels such as LPG. On the basis of installation size, the market is segmented into small (less than 10 kW), medium (10-100 kW), and large (more than 100 kW). On the basis of end-user, the market is divided into power distribution companies (PDCs), state governments, industrial clusters/centers, oil refineries/petrochemical plants, mining sites/oil&gas fields, etc. The region is segmented into North India (Uttar Pradesh & Bihar), West India (Gujarat & Rajasthan), South India (Tamil Nadu & Karnataka), East India (Assam & Nagaland), and Middle East&Africa.
The India diesel genset market is dominated by the National Hydroelectric Power Corporation (NHPC) and the Central Power Projects (CPPs) with a share of XX% and XX%, respectively. The remaining share is shared among other key players such as Mahanagar Gas Ltd., Adani Enterprises Ltd., Sterlite Energy Plc., etc.
Opportunities for India Diesel Genset Industry
1. The diesel genset market in India is expected to grow at a CAGR of XXXX% during the forecast period 2017-2021.
2. The major market drivers for the diesel genset market in India include growing demand from utilities and industry, increasing security concerns, and rising pollution levels.
3. The key markets for diesel gensets in India are Maharashtra, Gujarat, Andhra Pradesh, Delhi NCR, and Karnataka.
4. The major vendors in the diesel genset market in India are Mahindra Energy Systems Ltd., Siemens Power Generation (India) Pvt Ltd., General Electric Co., and Toshiba Corporation.
5. The leading players in the diesel genset market in India are Mahindra Energy Systems Ltd., Siemens Power Generation (India) Pvt Ltd., General Electric Co., and Toshiba Corporation. 6. The key market segments in the diesel genset market in India are commercial, industrial, and residential.
7. The key geographies in the diesel genset market in India are Maharashtra, Gujarat, Andhra Pradesh, Delhi NCR, and Karnataka.
Manufacturing Cost Structure Analysis of India Diesel Genset Industry
Manufacturing cost structure analysis of the diesel genset industry in India can be divided into three broad segments: equipment, components, and services. The equipment segment accounts for the largest share of overall manufacturing cost and is dominated by the purchase of engine and generator sets from global vendors. The equipment segment is further subdivided into engine sets and generator sets. The component segment includes such items as bearings, lubricants, valves, sensors and control systems, etc. which are imported from various countries. The services sector comprises various support activities such as engineering assistance, training, certification, etc.
The following are the major factors that influence the manufacturing cost structure of the diesel genset industry in India:
- Purchase price of engines and generators set
- Vendor’s margin on engines and generators set
- Input costs associated with engines and generators set (mainly raw materials)
- Labor costs
- Manufacturing costs of sub-assemblies
- Provisions for warranty, after-sales service, and R&D
- Other indirect costs