Large-Scale Housing Construction To Drive India Residential Diesel Generator Set Industry to $184.9 Million by 2030

02 Jan 2023

The Indian residential diesel genset market value stood at $91.3 million in 2020, and it is predicted to rise to $184.9 million by 2030, registering a CAGR of 7.1% from 2020 to 2030. The major factors fueling the expansion of the market are the increasing number of residential settings owing to the rapid urbanization and increasing implementation of government initiatives, mushrooming demand for bi-fuel, inverter, and hybrid generators, and high incidence of power cuts in the country.
The COVID-19 pandemic has hampered the progress of the market, as the policies and regulations implemented by the government to mitigate the spread of the virus, such as lockdowns and movement restrictions, have disrupted the construction of residential buildings. This was made worse by the exodus of laborers to their hometowns and constraints in the supply of construction materials. Similarly, the trade of generators also reduced as people curbed their spending on non-essential stuff.