Market Size of India Diesel Generator Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
