Govt focus on reducing emissions drives demand
The Indian Gas Genset Market is forecast to reach US$339.12 million by FY2026 from over US$246.25 million in FY2020, according to a report by ResearchAndMarkets.
Anticipated growth in the market can be attributed to growing pipeline infrastructure and increasing awareness about gas being a cleaner fuel.
Moreover, the lower operating cost of gas gensets as compared to diesel gensets, along with growing construction activities, is further boosting demand for gas gensets in India, said the “India Gas Genset Market”, released 3 Mar 2021.
Additionally, the rising government focus on reducing harmful emissions and promoting the use of gaseous fuel is further anticipated to aid the growth of the Indian Gas Genset Market during the forecast period.
The Indian Gas Genset Market is projected to gain popularity in the coming timeframe due to the rising need for uninterruptible power supply source systems in the country. It is experiencing an extensive growth due to the accelerating use of gas gensets in rural areas for parties and religious programs, as in India, rural areas attain less electricity access where gas genset plays a significant role in providing adequate electricity access during power outages.
Additionally, rising construction sector like Char Dham Expressway is expected to pave a way towards the robust demand for gas genset by proving emergence power during construction in remote areas and absence of power grid. Gas gensets are likely to be considered the best at times of emergency and is expected to spur the enormous growth of the Indian Gas Genset Market in the coming six years.
The major industry players include Clarke Energy India Private Limited, Caterpillar India Private Limited, Green Power International Pvt Ltd, GGE Genset Private Limited, Wartsila India Private Limited, Cooper Corporation Private Limited, Perfect Gas Generators, Sterling & Wilson Pvt Ltd, MTU India Private Limited, Cummins India Limited (CIL), Mahindra Powerol Limited, Prakash Diesels Private Limited, Powerline Group of Industries and Kirloskar Oil Engines Limited (KOEL). #energy #production #manufacturing #investment /fiinews.com
