India Gas Genset Markets, Size, & Forecasts Report 2023-2030: Affordability and Reliability will be Key for Growth for Low KVA Gensets

DUBLIN, July 6, 2023 /PRNewswire/ -- The "India Gas Genset Market, Size, Forecast 2023-2030, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to  ResearchAndMarkets.com's offering.

India Gas Genset Market will reach US$ 456.5 Million in 2030 from US$ 220.2 Million in 2022. The market shall register a growth rate of 9.54% from 2022 to 2030

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'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.

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.

Company Analysis: Overview, Recent Developments, Revenue

• Kirloskar Oil Engine
• Mahindra & Mahindra Ltd.
• Ashok Leyland
• Cummins India Ltd.
• Caterpillar Inc.

KVA Range - Market breakup from 3 Viewpoints:

• Low KVA (10-50)
• Medium KVA (50-500)
• High KVA (above 500)

End-User - Market breakup from 2 Viewpoints:

• Commercial
• Industrial

States - Market breakup from 10 viewpoints:

• Assam
• Gujrat
• Delhi
• U.P.
• Haryana
• Karnataka
• Madhya Pradesh
• Maharashtra

For more information about this report visit https://www.researchandmarkets.com/r/6eonnq

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets