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India Gensets Market Research Report 2020: Market has Witnessed a Slump in Growth Rate During the COVID-19 Pandemic

Share this article Share this article ResearchAndMarkets.com s offering. The market is expected to reach $3,006.6 million by 2030, from $1,385.6 million in 2019 at a healthy 13.3% CAGR between 2020 and 2030. The Indian gensets market has witnessed a slump in its growth rate during the COVID-19 crisis, as a result of the nationwide lockdown implemented to stop the virus from spreading. Subsequently, a large number of manufacturing plants and commercial complexes have shut down, while construction activities have stopped due to laborers heading back home. Even the Indian Railways has suspended its passenger services, which has further led to a reduced demand for gensets. Historically, the above-15 kVA category has held the largest share in the Indian gensets market, based on power rating. Commercial complexes, residential facilities, restaurants, small industrial units, and telecom towers widely deploy these gensets to meet their auxiliary electricity demands. As the number of re

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