Rs 22,000 crore Genset Market: 2 stocks riding India’s mission-critical data center boom

The way India uses electricity is changing. More businesses now need power they can’t afford to lose, even when the grid fails. This has kept demand for diesel generator sets steady across factories, hospitals, offices and infrastructure projects.

India’s genset market was worth around ₹13,500 crore in FY25 and is expected to reach nearly ₹22,000 crore by FY30, according to industry data cited by Greaves Cotton. But the next leg of demand is coming from a different kind of customer.