PUBLISHER: Renub Research | PRODUCT CODE: 1264009
PUBLISHER: Renub Research | PRODUCT CODE: 1264009
India Gas Genset Market, Size, Forecast 2023-2030, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis
India Gas Genset Market will reach US$ 456.5 Million in 2030, according to Renub Research. A gas genset uses a gas-powered engine to drive an electric generator, producing electrical energy. The portion of natural gas in the energy mix of India shall increase to 20% in 2025 compared to 11% in 2010, according to the Petroleum and Natural Gas Regulatory Board (PNGRB). Commercial buildings, data centers, hospitals, and industrial facilities uses it as a reliable backup or primary power source.
Gas gensets are often more cost-effective than diesel gensets due to the lower cost of natural gas or biogas than diesel fuel. Gas gensets produce lower emissions of harmful pollutants, such as carbon dioxide, nitrogen oxides, and sulfur dioxide, than diesel gensets, making them a cleaner and more sustainable option. Gas gensets are highly reliable and can provide uninterrupted power for extended periods, making them ideal for backup or primary power sources. Gas gensets require less maintenance than diesel gensets, as they have fewer moving parts and operate at lower temperatures, resulting in lower maintenance costs over their lifetime.
The power sector has been India's biggest natural gas consumer in the past and shall remain so going into the future. However, the future demand for natural gas from the sector is likely to be constrained by the ability of the power plants to pay for a higher fuel expense, reduced availability of domestic gas supply, and power sector reforms. According to the Petroleum and Natural Gas Regulatory Board (PNGRB), gas contributes to about 10% of power generation in India.
India Gas Genset Market shall register a growth rate of 9.54% from 2022 to 2030
India's power infrastructure is poorly developed, leading to frequent power outages and disruptions. As a result, gensets are often used as backup power sources to provide an uninterrupted power supply. With the rapid growth of industries and commercial establishments in India, there is a growing need for reliable and continuous power supply, especially in critical facilities such as hospitals, data centers, and manufacturing plants. In addition, the increasing urbanization in India has led to a greater demand for power, which the existing power infrastructure is struggling to meet.
Gensets often bridge the gap and provide an additional power supply. The Indian government has launched various initiatives to promote the use of clean energy and encourage the adoption of sustainable energy solutions. For example, the Ministry of Petroleum and Natural Gas has started the IndraDhanush Gas Grid Limited (IGGL) to implement the Hydrocarbon Vision 2030. As a result, gensets that run on cleaner fuels, such as natural gas and biogas, are becoming increasingly popular. Moreover, the technological advancements in genset design have made them more efficient, reliable, and easier to operate and maintain, leading to increased demand. However, the India Gas Genset Market value was US$ 220.2 Million in 2022.
Affordability and Reliability are the key Growth Factors of Low KVA
The Indian gas genset market segments into Low KVA (10-50), Medium KVA (50-500), and High KVA (above 500) based on the KVA range. India's chronic power shortages have increased the demand for reliable power sources, particularly in rural and remote areas with weak grid infrastructure. As a result, low-range KVA gas gensets have emerged as an affordable and reliable solution, being more cost-effective and having a longer lifespan than diesel gensets. Additionally, India has significant reserves of natural gas, a cleaner and more efficient fuel than diesel, making gas gensets an attractive option for power generation. Furthermore, gas gensets emit lower levels of pollutants, making them a preferred choice for users who want to reduce their carbon footprint.
Gas gensets are a dependable power backup source for Industrial Usage
Both the commercial and industrial sectors use gas gensets in India. Gas gensets dominate industrial usage in India due to their reliability, cost-effectiveness, environmental benefits, availability of natural gas, and government initiatives promoting renewable energy sources. They offer a dependable backup power source in case of power outages, emit lower levels of pollutants, and are a preferred choice for industries looking to reduce their carbon footprint.
In addition, the availability of natural gas makes it easier and more cost-effective to use gas gensets for industrial power generation. The Indian government's subsidies and incentives for adopting gas-based power generation have also driven the dominance of gas gensets in industrial usage.
In both Commercial and Industrial usage, Gujarat holds a dominant position in the India Gas Gensets Market
Based on the state, the division in the market for Indian gas gensets is Assam, Gujrat, Delhi, U.P., Haryana, Karnataka, Madhya Pradesh, Maharashtra, and Others. Gujarat's thriving industrial sector requires a reliable and cost-effective power source to meet its high demands. Gas gensets provide a dependable backup power source in case of power outages and are more cost-effective compared to other power generation options.
Gujarat is one of India's leading natural gas producers, making gas gensets a more cost-effective choice for power generation. The government of Gujarat promotes gas-based power generation through subsidies and incentives, encouraging industries to switch to gas gensets. Many sectors in Gujarat prioritize reducing their carbon footprint, and gas gensets emit lower levels of pollutants than diesel gensets, making them an attractive choice for such industries.
Key Players Analysis
The chronic power shortages in India have increased the demand for gas gensets, leading to a competitive market among key players. They invest in R&D to improve efficiency, reliability, and durability to stay competitive, driving innovation and new product launches. In addition, they offer cost-effective solutions and develop more eco-friendly options. Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., and Caterpillar Inc are competing in the market.
In August 2022, Kirloskar Oil Engines announced the launch of solutions for Gas Power Generation. The company also launched its dual fit kit that the users can retrofit on its existing and future diesel generators to run on a combination of gas and diesel.
In May 2022, Caterpillar planned to launch its demonstration Project Using Hydrogen-Fuelled Combined Heat and Power System.
Renub Research report titled "India Gas Genset Market Global Forecast by Kva range (Low Kva {10-50}, Medium Kva {50-500}, High Kva {above 500}), end-user (Commercial, and Industrial), State (Assam, Gujrat, Delhi, U.P., Haryana, Karnataka, Madhya Pradesh, Maharashtra, and Others), Company Analysis (Kirloskar Oil Engine, Mahindra & Mahindra Ltd., Ashok Leyland, Cummins India Ltd., and Caterpillar Inc)" provides a detailed analysis of India Gas Genset Market.
KVA Range - Market breakup from 3 Viewpoints:
1. Low KVA (10-50)
2. Medium KVA (50-500)
3. High KVA (above 500)
End-User - Market breakup from 2 Viewpoints:
1. Commercial
2. Industrial
States - Market breakup from 10 viewpoints:
1. Assam
2. Gujrat
3. Delhi
4. U.P.
5. Haryana
6. Karnataka
7. Madhya Pradesh
8. Maharashtra
9. Others
Company has been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
1. Kirloskar Oil Engine
2. Mahindra & Mahindra Ltd.
3. Ashok Leyland
4. Cummins India Ltd.
5. Caterpillar Inc.
Table of Contents
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
5. PESTEL Analysis- India Gas Genset Market
- 5.1 Overview
- 5.2 Political Factors
- 5.3 Economic Factors
- 5.4 Social Factors
- 5.5 Technological Factors
- 5.6 Environmental Factors
- 5.7 Legal Factors
6. India Gas Genset Market
7. India Gas Genset Volume
8. India Gas Genset Market-Share Analysis
- 8.1 By Kva Range
- 8.2 By End User
- 8.3 By State
- 8.3.1 Commercial Gas Genset Market
- 8.3.2 Industrial Gas Genset Market
9. By Kva Range- India Gas Genset Market
- 9.1 Low Kva (10-50)
- 9.2 Medium Kva (50-500)
- 9.3 High Kva (Above500)
10. End User- India Gas Genset Market
- 10.1 Commercial
- 10.2 Industrial
11. State- India Gas Genset Market
- 11.1 Assam
- 11.1.1 Commercial Gas Genset Market
- 11.1.2 Industrial Gas Genset Market
- 11.2 Gujarat
- 11.2.1 Commercial Gas Genset Market
- 11.2.2 Industrial Gas Genset Market
- 11.3 Delhi
- 11.3.1 Commercial Gas Genset Market
- 11.3.2 Industrial Gas Genset Market
- 11.4 Uttar Pradesh
- 11.4.1 Commercial Gas Genset Market
- 11.4.2 Industrial Gas Genset Market
- 11.5 Haryana
- 11.5.1 Commercial Gas Genset Market
- 11.5.2 Industrial Gas Genset Market
- 11.6 Karnataka
- 11.6.1 Commercial Gas Genset Market
- 11.6.2 Industrial Gas Genset Market
- 11.7 Madhya Pradesh
- 11.7.1 Commercial Gas Genset Market
- 11.7.2 Industrial Gas Genset Market
- 11.8 Maharastra
- 11.8.1 Commercial Gas Genset Market
- 11.8.2 Industrial Gas Genset Market
- 11.9 Others
- 11.9.1 Commercial Gas Genset Market
- 11.9.2 Industrial Gas Genset Market
12. Key Players Analysis
- 12.1 Kirloskar Oil Engines
- 12.1.1 Company overview
- 12.1.2 Sales Analysis
- 12.1.3 Recent Development
- 12.2 Mahindra & Mahindra Ltd.
- 12.2.1 Company overview
- 12.2.2 Sales Analysis
- 12.2.3 Recent Development
- 12.3 Ashok Leyland
- 12.3.1 Company overview
- 12.3.2 Sales Analysis
- 12.3.3 Recent Development
- 12.4 Cummins India Ltd.
- 12.4.1 Company overview
- 12.4.2 Sales Analysis
- 12.4.3 Recent Development
- 12.5 Catterpillar Inc.
- 12.5.1 Company overview
- 12.5.2 Sales Analysis
- 12.5.3 Recent Development
List of Figures
- Figure-01: India - Gas Genset Market (Million US$), 2021 - 2022
- Figure-02: India - Forecast for Gas Genset Market (Million US$), 2023 - 2030
- Figure-03: India - Gas Genset Volume (Units), 2021 - 2022
- Figure-04: India - Forecast for Gas Genset Volume (Units), 2023 - 2030
- Figure-05: Kva Range - Low Kva (10-50) Market (Million US$), 2021 - 2022
- Figure-06: Kva Range - Forecast for Low Kva (10-50) Market (Million US$), 2023 - 2030
- Figure-07: Kva Range - Medium Kva (50-500) Market (Million US$), 2021 - 2022
- Figure-08: Kva Range - Forecast for Medium Kva (50-500) Market (Million US$), 2023 - 2030
- Figure-09: Kva Range - High Kva (Above500) Market (Million US$), 2021 - 2022
- Figure-10: Kva Range - Forecast for High Kva (Above500) Market (Million US$), 2023 - 2030
- Figure-11: End User - Commercial Market (Million US$), 2021 - 2022
- Figure-12: End User - Forecast for Commercial Market (Million US$), 2023 - 2030
- Figure-13: End User - Industrial Market (Million US$), 2021 - 2022
- Figure-14: End User - Forecast for Industrial Market (Million US$), 2023 - 2030
- Figure-15: Assam - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-16: Assam - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-17: Assam - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-18: Assam - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-19: Gujarat - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-20: Gujarat - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-21: Gujarat - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-22: Gujarat - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-23: Delhi - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-24: Delhi - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-25: Delhi - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-26: Delhi - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-27: Uttar Pradesh - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-28: Uttar Pradesh - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-29: Uttar Pradesh - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-30: Uttar Pradesh - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-31: Haryana - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-32: Haryana - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-33: Haryana - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-34: Haryana - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-35: Karnataka - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-36: Karnataka - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-37: Karnataka - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-38: Karnataka - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-39: Madhya Pradesh - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-40: Madhya Pradesh - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-41: Madhya Pradesh - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-42: Madhya Pradesh - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-43: Maharastra - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-44: Maharastra - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-45: Maharastra - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-46: Maharastra - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-47: Others - Commercial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-48: Others - Forecast for Commercial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-49: Others - Industrial Gas Genset Market Market (Million US$), 2021 - 2022
- Figure-50: Others - Forecast for Industrial Gas Genset Market Market (Million US$), 2023 - 2030
- Figure-51: Kirloskar Oil Engines - Global Revenue (Million US$), 2021 - 2022
- Figure-52: Kirloskar Oil Engines - Forecast for Global Revenue (Million US$), 2023 - 2030
- Figure-53: Mahindra & Mahindra Ltd. - Global Revenue (Billion US$), 2021 - 2022
- Figure-54: Mahindra & Mahindra Ltd. - Forecast for Global Revenue (Billion US$), 2023 - 2030
- Figure-55: Ashok Leyland - Global Revenue (Million US$), 2021 - 2022
- Figure-56: Ashok Leyland - Forecast for Global Revenue (Million US$), 2023 - 2030
- Figure-57: Cummins India Ltd. - Global Revenue (Million US$), 2021 - 2022
- Figure-58: Cummins India Ltd. - Forecast for Global Revenue (Million US$), 2023 - 2030
- Figure-59: Catterpillar Inc. - Global Revenue (Billion US$), 2021 - 2022
- Figure-60: Catterpillar Inc. - Forecast for Global Revenue (Billion US$), 2023 - 2030
List of Tables
- Table-01: India - Gas Genset Market Share by Kva Range (Percent), 2021 - 2022
- Table-02: India - Forecast for Gas Genset Market Share by Kva Range (Percent), 2023 - 2030
- Table-03: India - Gas Genset Market Share by End User (Percent), 2021 - 2022
- Table-04: India - Forecast for Gas Genset Market Share by End User (Percent), 2023 - 2030
- Table-05: India - Commercial Gas Genset Market Share by State (Percent), 2021 - 2022
- Table-06: India - Forecast for Commercial Gas Genset Market Share by State (Percent), 2023 - 2030
- Table-07: India - Industrial Gas Genset Market Share by State (Percent), 2021 - 2022
- Table-08: India - Forecast for Industrial Gas Genset Market Share by State (Percent), 2023 - 2030
