Market Size of India Generator Sets Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Generator Sets Market Analysis
The India generator sets market is expected to grow at a CAGR of more than 5% over the period of 2020-2025. Factors such as an increase in demand for uninterrupted and reliable power supply and increasing growth in the commercial sector including the health care industry are expected to drive the market. However, increasing environmental and energy security concerns across the country has been leading to a shift toward cleaner resources and technologies, which may act as a restraint to the market.
- The commercial segment is expected to be the largest market by end-user as it has the largest amount of monitored capacity among all segments. It is mostly due to their flexible methods like delivering energy on demand that has helped their growth.
- The increasing popularity of hybrid generators and rising reliability of the hybrid system may be an opportunity for the industry due to its usage of various resources, driving down the cost, and reducing dependence on a single fuel. This, in turn, is expected to provide a significant amount of opportunity for the generator sets manufacturers in the near future.
- The increasing demand for uninterrupted and reliable power supply is expected to drive the market. A proportion of the country does not have access to 24-hour electricity with sporadic electric cuts, which may use generator sets for powering their houses and businesses.
