Pune, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The global natural gas generator market size is projected to reach USD 7.71 billion by the end of 2026. The increasing awareness regarding the use of natural gas and sustainable products will emerge in favor of market growth. According to a report by Fortune Business Insights, titled “Natural Gas Generator Market Size, Share and Industry Analysis, By Power Rating (Below 75kVA, 75-375kVA, 375-750kVA, Above 750kVA), By Application (Stand-by and Continuous), By End-User (Residential, Commercial, and Industrial), and Regional Forecast, 2019 - 2026,” the market was worth USD 4.81 billion in 2018 and will exhibit a CAGR of 6.2% during the forecast period, 2019-2026.
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A natural gas generator is a system that has the ability to produce electricity in cases of emergency and power shortages. It operates through a mechanism that is based on natural gases such as methane and propane. The increasing use of natural gas generators is attributable to the growing efforts put in by the government as well as private organizations to maximize the use of sustainable energy. The increasing investment in the R&D of natural gas generators will emerge in favor of the companies operating in the market. Moreover, technological advancements have played a vital role in the widespread adoption of these products across the world.
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Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company collaborations and mergers will have a huge impact on the growth of the market in the coming years. With a bid to establishing a stronghold in the market, several large-scale companies are looking to acquire small and medium enterprises. In August 2018, Aggrekko announced that it has signed a three-year contract with the Island of St. Croix. The collaboration was initiated with the aim of developing a new LPG powered power plant. This step will not only help the company grow but will influence the growth of the market in a positive manner.
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Asia Pacific to Witness Considerable Growth; Increasing Investment in Product R&D Will Provide Impetus to Market Growth
The report analyzes the ongoing construction, chemical market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, Asia Pacific is likely to witness considerable growth in the coming years. The efforts put in by governments of countries such as India, China, and Japan will emerge in favor for the growth of the regional market. As of 2018, the market in Asia Pacific was worth USD 1.54 billion, and this value is projected to increase further in the coming years.
List Of Key Companies Profiled in Natural Gas generator Market Are
- Atlas Copco (Sweden)
- Caterpillar Inc. (United States)
- Kohler-SDMO (France)
- Cummins Inc. (United States)
- Himoinsa (Spain)
- Ingersoll Rand (Ireland)
- American Honda Motor Company, Inc (United States)
- Kirloskar Electric Co. Ltd (India)
- Inmesol S.L.U (Spain)
- Generac Power Systems (United States)
- FG Wilson (United Kingdom)
- Briggs & Stratton (United States)
- Aggreko (United Kingdom)
- John Deere (United States)
- PRAMAC (Italy)
Industry Developments:
January 2020: Stadwerke Kiel announced the launch of a new flexible, modern, and advanced heat and power plants driven by natural gas.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Natural Gas Generator Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Power Rating
- Below 75kVA
- 75-375kVA
- 375-750kVA
- Above 750kVA
- Market Analysis, Insights and Forecast – By Application
- Stand by
- Continuous
- Market Analysis, Insights and Forecast – By End User
- Residential
- Commercial
- Industrial
- Market Analysis, Insights and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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