India Diesel Genset Rental Market to Grow at a CAGR of 5.92% through 2027
Increasing government initiatives towards infrastructure
development and low capital investment etc., is expected to drive the India diesel
genset rental market through forecast period.
According
to TechSci Research report, “India Diesel Genset Rental Market - By Region, Competition,
Forecast & Opportunities, 2017-2027”,
the India diesel genset
rental market is anticipated to grow at a CAGR of 5.92% in the forecast period
to reach USD616.15 billion by 2027. Stringent emission norms and ongoing
infrastructure development projects are driving the demand for the India diesel
genset rental market. Leading authorities are adopting the measures to become
the global manufacturing hub by 2030 by introducing supportive initiatives. The
introduction of the ‘Make in India’ scheme by the government to boost the local
manufacturing industries and reduce the dependency on the import of goods is
expected to act as a positive driver for the India diesel genset rental market.
Also, the government is supporting the development of Micro, Small, and Medium
Enterprises (MSMEs) by allocating funds and support schemes that are expected
to create massive demand for diesel genset rental services in the coming five
years. Ongoing infrastructure development projects by the government authorities
such as Atal Mission for Rejuvenation and Urban Transformation (AMRUT) are
expected to accelerate the market demand to support the construction during
power outages and in remote locations.
Construction companies prefer
to take diesel genset rental services instead of purchasing them due to the
high cost involved in purchasing, maintenance, and transportation of diesel
genset to different locations. Rental companies bear the maintenance and
purchasing cost and provide the diesel genset to enterprises at the desired
locations. Also, the rental service provider companies upgrade the diesel
gensets based on the latest technological innovations and offer the latest
models at affordable rates.
However, fluctuations in
diesel prices and growing pollution levels may restrain India diesel genset
rental market growth in the forecast period.
Browse over 27 market data
Figures spread through 98 Pages and an in-depth TOC on "India Diesel Genset
Rental Market"
https://www.techsciresearch.com/report/india-diesel-genset-rental-market/4203.html
The India diesel genset
rental market is segmented into power rating, vertical, company, and regional
distribution.
Based on vertical, the market
is divided into construction, manufacturing, healthcare, IT & telecom,
residential, and others. The other segment is further divided into hospitality,
education, events, banks, offices, shopping malls. The construction segment
dominated the market in 2021 by holding the largest market share of 29.37% in
the forecast period and is expected to maintain its dominance through the
forecast period. The rise in the number of construction and infrastructure
development activities is expected to boost the demand for diesel genset rental
as an emergency power supply.
On the basis of regional
distribution, the market is segmented into north, south, west, east. The
Northern region captured the largest market share by covering 30.71% market
share in 2021. The ongoing development in the Delhi-NCR region and the high-end
investments to develop data centers and offices fuel the construction
activities in the Northern area. The steady growth of the construction industry
and the need for an uninterrupted power supply to continue the operations are
expected to contribute to the growth of the India diesel genset rental market
for the next five years.
Major market players
operating in the India diesel genset rental market are :
- Cummins India Limited
- Kirloskar Oil Engines Limited
- Kohler Power India Pvt Ltd.
- Ashok Leyland Ltd
- Perennial Technologies
- Sudhir Power Ltd.
- Aggreko Energy Rental India Pvt. Ltd.
- Marco Gensets Pvt. Ltd.
- Mahindra Powerol
- Tafe Motors and Tractors Limited
- Perfect Generator Technologies Private Limited
- Modern Energy Rental Pvt. Ltd
- Power Mak Industries LLP
- Pioneer Power Service Pvt Ltd
- GMMCO Limited
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“Market players operating in
the India diesel genset rental market will invest heavily in research and
development activities to develop advanced diesel gensets and support
sustainable development and clean air by reducing greenhouse emissions in the
environment. The launch of digital diesel genset integrated with digital
control technology and the introduction of hybrid renewable energy systems in
the market is expected to garner the maximum customer attention in the forecast
period. The rise in the number of market players and growth in efforts by key
players to expand the product portfolio is expected to propel the India diesel
genset rental market growth till 2027” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“India Diesel Genset
Rental Market By Power Rating (Below 100KVA, 100.1-350KVA, 350.1-750KVA,
750.1-1000KVA, above 1000KVA), By Vertical (Construction, Manufacturing,
Healthcare, IT & Telecom, Residential, Others (Hospitality, Education,
Events, Banks, Offices, Shopping Malls)), By Region, Competition, Forecast
& Opportunities, 2017-2027”, has evaluated the future
growth potential of India diesel genset rental market and provides statistics
& information on market size, structure and future market growth. 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 diesel genset rental market.
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