India Gas Genset Market growing at a CAGR of 11.4% during 2020-26
Gas gensets operate on natural gas to produce electricity. Various nations have set the norms to control noxious emissions from diesel-driven gensets. This is anticipated to influence the gas gensets market globally on a positive note in the coming future. Gas gensets are widely used across multiple applications in industrial, commercial, agricultural, household facilities, and remote tourist places as a source of power during grid failure or any other common issues.
According to Pheonix Research, India’s Gas Genset market size is forecast to hit $37 million by 2026 and grow at a healthy CAGR of 11.4% during 2020-2026. Subordinate operational expenditure, surging carbon emissions, and high power generation capacity of gas gensets in comparison with diesel gensets are the major growth drivers boosting the market growth in India. The gas gensets market in India is anticipated to grow at a robust pace in the future owing to the intensification of environmental regard, growing awareness concerning greenhouse gas emissions, and global climate change.
The application for gas gensets between 100.1 KVA – 375 KVA rating led the market in 2019. The commercial sector dominated the maximum share in terms of revenue in 2019 accompanied by the industrial sector. The burgeoning number of commercial infrastructure is increasing the demand for back-up solutions which boost the necessity for gas gensets in overall segments, for instance, smart cities, telecom, airports, educational institutes, data centers, and office buildings.”
Key Players in the Gas Genset Market in India include Ashok Leyland, Caterpillar, Cummins, Cooper, Kirloskar, Kohler Power, and Mahindra.
“India Gas Genset Market (2020-2026)” serves a comprehensive analysis with 61 figures and 21 tables covered in 125 pages. The study evaluates and forecasts the entire India Gas Genset market by applications, ratings, verticals, and regions.
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