Natural Gas Generator Market To Witness Significant Growth By 2025 Owing To Rising Electricity Outrage And Deficit Power Supply Globally | Grand View Research, Inc.

February 09 22:12 2021
“Grand View Research, Inc. – Market Research And Consulting.”
According to a report published by Grand View Research, the market is fueled by the rising electricity outrage and deficit power supply globally along with the restrictions levied on the use of diesel generators due to the high degree of carbon emissions.

According to a report, “Natural Gas Generator Market Size, Share & Trends Analysis Report By Rating (Low Rating, Medium Rating, High Rating), By Application (Industrial, Residential, Commercial), And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global natural gas generator market size is projected to reach USD 10.87 Billion by 2025, registering a CAGR of 10.7% over the forecast period. The growing demand for back-up power coupled with increasing government regulation to reduce the carbon emission caused by diesel generators is likely to strengthen the growth of the natural gas genset market during the forecast period.

The global electricity demand is anticipated to witness an increase of nearly two-thirds of the current demand over the forecast period. The current availability of natural gas in large quantities and its relatively lower prices, especially in regions such as North America and Europe, has led to an increase in power generation using natural gas.

Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel generators are the factors anticipated to increase the share of natural gas generator set in the coming years. Conventional generators such as diesel generators emit harmful gases including nitrogen oxide, hydrocarbons, and carbon monoxide due to the combustion of diesel. Due to this, different regulatory bodies have imposed stringent regulations that pose a barrier to the usage of diesel generators. This, in turn, has resulted in the growth of eco-friendly alternatives to diesel generators such as a natural gas generator.

U.S. Natural Gas Generator Market Size, By Power Rating, 2014 - 2025 (USD Million)

Natural Gas Generator Market Report Highlights

  1. On the basis of power ratings, the low power generator segment dominated the market with a market share of USD 2.30 billion in 2018 owing to the popularity of low power generators in residential and commercial power backup operations.

  2. The medium power generator segment held the second-largest market share in 2018 and is expected to exhibit lucrative CAGR over the forecast period.

  3. On the basis of application, the commercial segment accounted for the largest market share in 2018 and is projected to grow at the highest CAGR during the forecast period Developing economies in the Asia Pacific have witnessed strong growth in commercial sectors. IT, telecom, and retail are some of the major sectors that are growing rapidly in developing countries of Asia Pacific, resulting in high demand for natural gas generators as the natural gas generator is crucial for back-up power in these facilities.

  4. North America accounted for the largest market share in 2018. The abundance of natural gas in the U.S. coupled with developed infrastructure for transportation of natural gas within the country has played a vital role in driving the demand for gas generator sets in the U.S.

  5. The Asia Pacific region is expected to be the fastest-growing region with a CAGR of more than 13.0% over the forecast period owing to the need for efficient back-up power systems.

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Natural Gas Generator Market Segmentation

Grand View Research has segmented the natural gas generator market on the basis of power rating, application, and region:

Natural Gas Generator Market Power Rating Outlook (Revenue, USD Million, 2014 – 2025)

  1. Low Power Generator

  2. Medium Power Generator

  3. High Power Generator

Natural Gas Generator Market Application Outlook (Revenue, USD Million, 2014 – 2025)

  1. Industrial

  2. Commercial

  3. Residential

Natural Gas Generator Market Regional Outlook (Revenue, USD Million, 2014 – 2025)

  1. North America

    1. The U.S.

    2. Canada

    3. Mexico

  2. Europe

    1. Russia

    2. Germany

    3. The U.K.

    4. France

  3. Asia Pacific

    1. China

    2. India

    3. Japan

    4. South Korea

  4. Central & South America

    1. Brazil

    2. Argentina

  5. Middle East and Africa

    1. UAE

    2. Saudi Arabia

Key Players in the Natural Gas Generator Market

  1. Caterpillar Inc.

  2. Cummins Inc.

  3. Generac Power Systems

  4. Mitsubishi Heavy Industries, Ltd.

  5. Kohler Co., Inc.

  6. General Electric

  7. MTU Onsite Energy GmbH

  8. Mahindra Powerol

  9. Yanmar Co., Ltd.

  10. Coopercorp Generators

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Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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