DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Gensets Market in India 2016-2020" report to their offering.
The genset market in India to grow at a CAGR of 14% during the period 2016-2020.
Increased operational inefficiencies and outstanding debts have led to poor financial health of state electricity distribution companies in India. According to the Indian Planning Commission, electricity generation has to be increased by five to six times the 2003-2004 levels by 2031-2032 to ensure a sustained 8% growth of the economy. If this requirement is not met, the increasing demand for gensets in the country for uninterrupted power supply will remain.
To arrive at market size, the study considers revenue generated by sales of the following gensets:
- By fuel type
- By application type
- By end-user type
- By power output capacity
A trend boosting market growth for gensets is technological advances. Improved fuel economy continues to be the most significant advancement in diesel engine technology. Though many end-users prefer gasoline-powered equipment, the diesel engine segment has a solid end-user base in data centers as it is an economical option - an important parameter considered for owning power backup equipment.
Over the years, several initiatives and changes have been implemented to improve the overall efficiency of engines in a diesel genset. Most of the modifications involve igniting of power within the engine itself, derived from a combination of oxygen and fuel.
According to the report, a key growth driver is frequent power outages. Power outages form one of the common problems faced by developing countries such as India. India, being one of the fastest developing nations in the world, depends largely on electricity for its industrial, commercial, infrastructure, transport, and other sectors. India is the third largest electricity producer and consumer in the world after the US and China. However, an estimated 27% of the energy generated in India gets lost during transmission or is stolen. Peak supply falls short of 9%, and frequent power outages last for an average of 10 hours in many regions of the country.
Further, the report states that one challenge that could hamper market growth is the increased adoption of renewable energy sources.
Key vendors
- Caterpillar
- Cummins
- Kirloskar
- Mahindra & Mahindra
Other prominent vendors
- Atlas Copco
- Ashok Leyland
- C & S Electric
- The Escorts Group
- Eicher Motors
- FG Wilson
- Generac Power Systems
- Greaves Cotton
- Honda Siel Power Products
- Kohler
- International Tractors Ltd. (Sonalika)
- Sterling Generators
- TATA Motors
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by fuel type
Part 07: Market segmentation by application type
Part 08: Market segmentation by end-users
Part 09: Genset market by power output capacity
Part 10: Market drivers
Part 11: Impact of drivers
Part 12: Market challenges
Part 13: Impact of drivers and challenges
Part 14: Market trends
Part 15: Vendor landscape
Part 16: Appendix
For more information visit http://www.researchandmarkets.com/research/s3lwpv/gensets_market_in
