Industries prefer to rent diesel genset, says report
The Indian Diesel Genset Rental Market is projected to grow to US$616.15 million by 2027 at a CAGR of 5.92% from US$445.18 million in 2021, driven by demand for diesel gensets from the commercial and industrial sector.
The growth is also driven by favorable government initiatives supporting the development of the manufacturing industry are the primary factors, the ResearchAndMarkets report said on 27 April 2022.
Also, the organizations need to optimize the operational costs and growing demand for backup power to ensure constant power supply is expected to fuel the demand of the Indian Diesel Genset Rental Market through the next five years.
Market prospects were given in the “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), and By Region, Competition, Forecast & Opportunities, 2027”.
Industries prefer to rent the diesel genset instead of buying it. Renting diesel genset provides numerous benefits, such as eliminating capital investment, which gives the opportunity to the business owner to use that money for other purposes.
During emergency situations, organizations prefer to rent the diesel genset as it requires lower cost and time when compared to immediate buying the diesel genset. The introduction of advanced diesel genset equipped with advanced control panels, connection options, power selector switch and other components is expected to create lucrative opportunities for the Indian Diesel Genset Market in the forecast period.
Due to the growing population, accommodation and other purposes are decreasing rapidly, generating the need to look for unexplored and hazard-prone areas. People settle in high-risk areas prone to heavy rainfalls, snowfalls, storms, and other severe environmental conditions.
The rise in global warming and growing greenhouse emissions results in severe calamities, which hamper the power generation and distribution systems. People are rapidly using the diesel gensets to get power supply in emergencies, which is expected to bolster the demand for the Indian Diesel Genset Market in the next five years.
The report listed leading players in India:
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 and GMMCO Limited. fiinews.com
