The new report by Expert Market Research titled, ‘Global Natural Gas Generator Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global natural gas generator market, assessing the market based on its segments like power ratings, end users, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 5.73 Billion
- Forecast CAGR (2022-2027): 19%
- Forecast Market Size (2027): USD 8.69 Billion
Contemporary generators, such as generating units, emit harmful gases like nitrogen oxide, hydrocarbons, and carbon monoxide due to the combustion of diesel. As a result, numerous regulatory agencies have enacted stringent laws that make the use of diesel generators difficult. As a result, eco-friendly alternatives to diesel generators, including natural gas power, are becoming increasingly popular. As the costs of natural gas decline, its use in the housing industry is likely to rise.
As a result, the market for home gas generators for backup power solutions is expected to rise in the coming years. Demand for gas generators, as opposed to generating units, which are regarded more polluting, is predicted to climb dramatically as air pollution requirements in the United States has become stricter, coupled with the environmental implications.
Industry Definition and Major Segments
A natural gas generator is a scheme that can generate electricity in times of emergency or power outage. It works via a mechanism based on natural gases such as methane and propane.
The market can be classified based on power rating of global natural gas generator are:
- Up to 100 KVA
- 101-350 KVA
- 351-750 KVA
- Above 750 KVA
The market can be broadly categorised on the basis of its end user into:
- Industrial
- Commercial
- Residential
The market can also be classified based on its application as:
- Stand-by
- Continuous
On the basis of region, the market is divided into:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
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Market Trends
The development of environmentally-friendly and sustainable generators can be linked to the expansion of the global market for natural gas generators. Natural gas’s abundance and low prices, particularly in North America and Europe, have resulted in an increase in natural gas-fired power generation.
The strives to promote on cleaner energy production as well as environmental concerns raised by emergency generators are expected to increase the share of natural gas generators in the coming years. Additionally, increasing demand for energy from various end-use industries, along with industrialisation, urbanisation, and rising population levels, is pressuring the need for an effective and efficient source of power generation, thereby boosting natural gas generator adoption and market expansion.
Key Market Players
The major players in the market are Aggreko Plc., Caterpillar Inc., Cummins Inc., APR Energy Inc., Kohler Co., and Generac Holdings Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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