India Turbo Generators Market Assessment, By Cooling Type [Air-cooled Turbo Generator, Hydrogen-cooled Turbo Generator, Water-cooled Turbo Generator], By End-user [Coal Power Plant, Gas Power Plant, Nuclear Power Plant, Others], By Region, Opportunities and Forecast, FY2018-FY2032F

India turbo generators market is projected to witness a CAGR of 3.80% during the forecast period FY2025-FY2032, growing from USD 647.48 million in FY2024 to USD 872.58 million in FY2032. 

India Turbo Generators Market Size, Share, Growth & Trends 2032

India turbo generators market is projected to witness a CAGR of 3.80% during the forecast period FY2025-FY2032, growing from USD 647.48 million in FY2024 to USD 872.58 million in FY2032. The demand for turbo generators in India is on the rise based on various factors such as rapid industrialization, government initiatives to expand power generation capacity, rising electricity consumption, and the shift toward cleaner energy sources. As India continues to grow economically and industrially, the role of turbo generators is becoming crucial to produce sustainable energy in the country. Moreover, investments in infrastructure modernization, renewable energy projects, rural electrification, and large-scale power projects are fostering the efficient turbo generator market in India.
Turbo generators are supporting the country in the transition to cleaner energy. The generators are designed to manage cleaner fuels, such as natural gas, and reduce reliance on fossil fuels, which boosts the turbo generators market size in the forecast period. Furthermore, the upcoming modernized turbo generators will be used in supercritical and ultra-supercritical coal plants to assist in reducing fuel consumption and lowering emissions. The equipment improves the performance of existing thermal plants to meet environmental and sustainability targets, which will drive the demand for turbo generators in the forecast years.
For instance, in September 2024, Adani Power is planning to triple the capacity of its Kawai power plant in Rajasthan with an investment of around USD 2.14 billion (INR 18,000 crore). This development will help the upliftment of turbo generators in India.
<h2 style="text-align: justify;">Growing Use of Gas, Coal, and Combined Cycle Power Plants to Drive Market Growth</h2>
India is gradually looking to shift from coal-dominated power generation power plants to cleaner power plants such as natural gas. Investment in combined cycle power plants (CCPP) is on the rise as plants use gas and steam turbines to generate mechanical energy. The demand for turbo generators is high in combined cycle power plants (CCPP) as generators convert mechanical energy from the turbines into green electrical energy.
As power plants have adopted natural gas to meet stringent emission standards and comply with global climate goals, it has resulted in elevated demand for the turbo generators market. Furthermore, India is modernizing the combined cycle power plants (CCPP) sector by upgrading its existing power plants with supercritical and ultra-supercritical technologies to improve efficiency and reduce emissions, driving the demand for new high-capacity turbo generators. For performance improvement of existing thermal plants, the turbo generators will play a critical role in increasing energy efficiency and reducing operational costs.
With the rise in global pressure and domestic policies for the reduction of greenhouse gas emissions, India is encouraging the adoption of low-carbon energy technologies for power generation. Turbo generators are designed to operate on cleaner energy systems, including natural gas-fired plants and carbon capture-enabled systems, which help meet environmental standards and maintain high efficiency of power generation.
For instance, in July 2024, the Indian government will be supporting the opening of a coal-fired generation plant with an investment of around USD 33 billion. With the opening of new thermal plants, the country will increase the demand for turbo generators. This development will help the turbo generator market to grow in the forecast years.
<h2 style="text-align: justify;">Infrastructure Modernization and Electrification to Drive Market Growth</h2>
The ongoing industrial growth and rapid urbanization are driving a significant rise in the demand for electricity. India&rsquo;s power infrastructure is undergoing significant modernization to improve efficiency, reliability, and capacity. Several existing power plants, particularly coal-based thermal plants, are aging and require upgrades or replacements to meet modern standards of efficiency and emission control, driving the demand for turbo generators in the market.
Moreover, as India develops on a large scale due to increased investment in the manufacturing sector, industries such as steel, cement, and petrochemicals are growing rapidly. This growth boosts the demand for reliable power sources. With the rise in the requirement for reliable and efficient power supplies from thermal power plants, combined heat and power (CHP) systems and natural gas plants boost the demand for turbo generators in the market.
To meet the energy demands of growing urban and industrial centers, India is investing in new power plants and modernizing existing ones, thereby, the rise in the demand for turbo generators is expected. Large thermal power plants rely especially on turbo generators to ensure continuous power supply while minimizing energy losses.
For instance, in February 2024, as per the Invest India report, the government of India decided to allocate around 3.3% of GDP for the development of the infrastructure sector in FY2024, with a particular focus on the transport and logistics segments. With the development of new infrastructure, the increase in demand for reliable power sources in the country will boost the turbo generators market in the power sector in the forecast years.
<h2 style="text-align: justify;">Government Initiatives to Expand Power Generation Capacity</h2>
The government of India has been making significant strides toward adopting renewable energy sources, such as solar, wind, and biomass, as a part of the transition to cleaner and more sustainable power sources. The new renewable power plants require turbo generators to convert mechanical energy into electrical power. Turbo generators are widely used in thermal plants for the integration into hybrid systems that combine renewable energy with conventional sources.
India includes the development of power plants, including ultra-mega power projects (UMPPs) and supercritical coal plants. The expansion of power generation capacity will require highly efficient and durable turbo generators. Large-scale investments by the government in energy infrastructure development, including nuclear power projects and energy plants, that create the opportunity for turbo generator technologies are expected to grow in the market. In the forecast years, the country will be contributing towards the development of mega power projects to meet the energy needs, which will create the demand for the turbo generators market to rise in the forecast period. Moreover, the government promotes natural gas power plants in the country. Expansion of gas-based power plants will drive the turbo generators market size in the forecast years.
For instance, in July 2024, the government of India decided to achieve around 50 percent of the cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. This development will help to boost the demand for efficient turbo generators in the market.
<h2 style="text-align: justify;">Air-cooled Turbo Generators to Dominate India Turbo Generator Market Share</h2>
Air-cooled turbo generators have a high adoption rate, which makes the segment dominate the market share. Air-cooled turbo generators are more affordable to install and operate. Moreover, air-cooled generators are simpler to build and transport which is why turbo generators have become a preferred choice for industries and power plants for energy production. Air-cooled turbo generators are often utilized in captive power plants used by industries, renewable energy facilities, and industrial cogeneration systems.
The air-cooled turbo generator systems provide the flexibility to operate in off-grid or remote locations without the need for a nearby water source, which makes the system suitable for the diverse geographical and industrial landscape in India. Additionally, policies support renewable energy and decentralized power generation, which aligns with the deployment of air-cooled generators, boosting the demand for turbo generators in the market. The benefits provided by the air-cooled turbo generator in industries drive the demand in the market.
Air-cooled generators are becoming more popular in the country as they are particularly designed for small-scale power plants and decentralized energy systems applications. Air-cooled generators have lower maintenance requirements compared to water-cooled systems, which drives the demand for air-cooled turbo generators in the market.
As per the report published by the Ministry of Power, in India, total power generation increased by more than 8% year-on-year in FY2021-FY2022 and by 9% in FY2022-FY2023. With the rise in power production in the country, demand for turbo generators in power plants is expected to rise in the forecast years.
West and Central Region to Dominate the Turbo Generators Market Share
The western and central regions dominate the turbo generator market share. The west and central comprise developing states that are largely investing in reliable energy sectors, driving the demand for the turbo generator market in the region. Several states are making investments to increase power generation capacity and economic growth. Governments and higher authorities of states are investing heavily in building new power plants, including coal, natural gas, hydro, nuclear, and renewable energy plants, which are creating the demand for turbo generators in the Indian market.
Furthermore, the rise in investment in renewable energy projects, such as concentrated solar power (CSP) plants, will contribute to creating the opportunity for the turbo generators market in the forecast period.
For instance, in February 2024, two new nuclear reactors with a total energy capacity of 1.4 GW are set to open in the Indian state of Gujarat. With the opening of the new power plant, the region is expected to increase the demand for highly efficient turbo generators in the coming years.
<a href="https://www.marketsandata.com/industry-reports/india-turbo-generators-market/sample-request">Download Free Sample Report</a>
Future Market Scenario (FY2025 &ndash; FY2032F)
<ul style="text-align: justify;">
<li>The growing preference for natural gas and combined cycle technology will drive the demand for turbo generators designed to operate in high-efficiency gas plants.</li>
<li>Retrofitting existing plants for the improvement in production performance, reducing emissions, and extending the operational lifespan of plants will increase the demand for high-efficiency turbo generators in the market.</li>
<li>India is investing in decentralized power generation systems, including microgrids and small power plants, especially in remote areas with limited grid connectivity, which creates the demand for turbo generators in the forecast period.</li>
</ul>
Report Scope
&ldquo;India Turbo Generators Market Assessment, Opportunities and Forecast, FY2018-FY2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of India turbo generators market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
<table>
<tbody>
<tr>
<td width="301">
Report Attribute
</td>
<td width="301">
Details
</td>
</tr>
<tr>
<td width="301">
Base Year of the Analysis
</td>
<td width="301">
FY2024
</td>
</tr>
<tr>
<td width="301">
Historical Period
</td>
<td width="301">
FY2018-FY2023
</td>
</tr>
<tr>
<td width="301">
Forecast Period
</td>
<td width="301">
FY2025-FY2032
</td>
</tr>
<tr>
<td width="301">
Projected Growth Rate
</td>
<td width="301">
CAGR of 3.80% between FY2025 and FY2032
</td>
</tr>
<tr>
<td width="301">
Revenue Forecast in FY2032
</td>
<td width="301">
USD 872.58 million
</td>
</tr>
<tr>
<td width="301">
Segments Covered
</td>
<td width="301">
Cooling Type, End-user
</td>
</tr>
<tr>
<td width="301">
Regions Covered
</td>
<td width="301">
North, South, East, West and Central
</td>
</tr>
<tr>
<td width="301">
Key Companies Profile
</td>
<td width="301">
Bharat Heavy Electricals Limited, L&amp;T-MHI Power Turbine Generators Private Limited, GE Power India Limited, Weg Industries (India) Pvt. Ltd., Arani Power Systems Limited, Siemens Limited, ANDRITZ HYDRO Pvt. Ltd., and ABB India Limited
</td>
</tr>
<tr>
<td width="301">
Customization Scope
</td>
<td width="301">
15% free report customization with purchase
</td>
</tr>
<tr>
<td width="301">
Pricing and Purchase Options
</td>
<td width="301">
Avail the customized purchase options to fulfil your precise research needs
</td>
</tr>
<tr>
<td width="301">
Delivery Format
</td>
<td width="301">
PDF and Excel through email (subject to the license purchased)
</td>
</tr>
</tbody>
</table>
In the report,&nbsp;India turbo generators market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Cooling Type
<ul>
<li>Air-cooled Turbo Generator</li>
<li>Hydrogen-cooled Turbo Generator</li>
<li>Water-cooled Turbo Generator</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Coal Power Plant</li>
<li>Gas Power Plant</li>
<li>Nuclear Power Plant</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North</li>
<li>South</li>
<li>East</li>
<li>West and Central</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
In the turbo generators market, companies compete to outperform in terms of the production of high-quality turbo generators. Turbo generator manufacturers are concerned with supply chain resilience, energy efficiency, power plant production capacity, and environmental practices, which will define the industry's future. Manufacturers are highly focused on technological advancements, strategic partnerships, localization, and customer-centric solutions, which will help them increase their market share. Leading companies are focusing on developing high-efficiency turbo generators that could operate under different conditions. Companies are investing in innovations to meet the Indian government's stringent environmental regulations aimed at reducing carbon emissions. &nbsp;The upcoming production expansion, collaborations, joint ventures, agreements, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in July 2024, National Thermal Power Corporation (NTPC) and Bharat Heavy Electricals Limited (BHEL) jointly set up a highly efficient 800 megawatts Advanced Ultra-supercritical (AUSC) thermal power plant, which increased the demand for turbo generators in the market.
Key Players Operating in India Turbo generators Market are:
<ul style="text-align: justify;">
<li>Bharat Heavy Electricals Limited</li>
<li>L&amp;T-MHI Power Turbine Generators Private Limited</li>
<li>GE Power India Limited</li>
<li>Weg Industries (India) Pvt. Ltd.</li>
<li>Arani Power Systems Limited</li>
<li>Siemens Limited</li>
<li>ANDRITZ HYDRO Pvt. Ltd.</li>
<li>ABB India Limited</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
If you can't find what you're searching for or have any custom requirements for India turbo generators market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>
&nbsp;

India Turbo Generators Market Assessment, Opportunities and Forecast, FY2018-FY2032F

India turbo generators market is expected to experience growth due to rise in investment in power plant for green energy production and growing demand for energy in commercial and industrial sectors.

FAQs

Industry Reports

Blogs

Case Studies

Industry News

Press Release

Infographics