According to recently published TechSci Research report “India Gas Gensets Market Research Report By Rating, By Application, By End Use, By Market Source, By Fuel Type, Competition Forecast & Opportunities, 2023’’, India gas gensets market is projected to reach $ 315 million by 2023 on account of growing demand for continuous power supply, rising construction activities and growing real estate market in the country. Moreover, surging demand for hybrid renewable energy systems and lower operating cost of gas gensets as compared to diesel gensets is further pushing their demand across India. Additionally, stringent government norms to reduce harmful emissions by promoting the use of clean fuel is further likely to steer growth in India gas gensets market during forecast period. Clarke Energy India Private Limited was the leading player in India gas gensets market in 2017, and the company is likely to maintain its dominant position through forecast period as well. Clarke Energy is followed by Caterpillar India Private Limited, Green Power International Pvt. Ltd., GGE Genset Private Limited, and Wartsilla India Private Limited.
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In terms of genset rating, India gas gensets market is dominated by gensets with ratings of Above 750 kVA as these gensets are widely used in industrial and commercial sectors as a primary power supply source. In application segment, Prime Power accounted for the largest value share in India gas gensets market in 2017 and is likely to maintain its dominance throughout the forecast period. A large demand for gas gensets generates from Western and Northern India which can be attributed to a large number of active construction activities, proper pipeline infrastructure and presence of large industrial sector in these regions. On the basis of end user sectors, India gas gensets market is segmented into industrial, commercial and residential. Of all, industrial sector accounted for the largest share in India gas gensets market, followed by the country’s commercial sector, in 2017.
“During 2019-2030, India is likely to witness robust growth in its supply of natural gas and LPG from international sources due to increase in LNG imports and commissioning of TAPI (Turkmenistan–Afghanistan–Pakistan–India) pipeline. Moreover, Government of India is focusing on increasing the share of natural gas consumption to 15% by 2025 from 7% in 2017 in primary energy mix, which is expected to have a huge positive impact on India gas gensets market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Gas Gensets Market By Rating, By Application, By End Use, By Market Source, By Fuel Type, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of India gas gensets market and provides statistics and information on market size, structure and trends. 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 gensets market.