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.
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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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