Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The "Natural Gas Generator Market Size, Share & Trends Analysis Report By Power Rating (Low Power Genset, Medium Power Genset, High Power Genset), By Application (Industrial, Residential, Commercial), By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global natural gas generator market size is expected to reach USD 18.67 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.4% during the forecast period, according to a new report. Growing demand for backup power coupled with increasing government regulation to reduce the carbon emission caused by diesel genset is likely to strengthen the growth of the market during the forecast period.
The global electricity demand is anticipated to witness an increase of nearly two-thirds of the current demand during 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 gensets are the factors anticipated to increase the share of natural gas generators set in the coming years.
Conventional gensets, such as diesel gensets, emit harmful gases, including nitrogen oxide, hydrocarbons, and carbon monoxide, due to the combustion of diesel. As a result, different regulatory bodies have imposed strict regulations and thus making it difficult for diesel generators to be used. This has led to the growth of eco-friendly alternatives to diesel gensets, such as natural gas gensets.
Emerging economies in the Asia-Pacific region, such as India, China, Japan, and others, have witnessed strong growth in their commercial sectors. The growth of demand for natural gensets over diesel gensets for backup power applications is owing to the increasingly stringent government regulations to curb greenhouse gas emissions caused by diesel gensets.
Natural Gas Generator Market Report Highlights
- The low power gensets segment accounted for a prominent share in the market in 2021 and is further expected to witness prominent growth during the forecast period
- For the application segment, the commercial segment accounted for the largest market share in 2021 and is projected to expand at the highest CAGR during the forecast period.
- North America accounted for the largest market share in 2021. 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
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Generator Set Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.1.1 Major Raw Materials Analysis
3.3.1.1.1 Copper
3.3.1.1.2 Steel
3.3.1.2 Procurement Best Practices
3.3.2 Manufacturing Trends
3.3.2.1 Technology Trends
3.3.2.2 Cost Structure Analysis
3.3.3 Sales Channel Analysis
3.3.4 Vendor Selection Criteria Analysis
3.3.5 Profit Margin Analysis
3.3.6 List of Potential Key End-Users
3.4 Technology Overview
3.4.1 Technology Timeline
3.5 Regulatory Framework
3.5.1 Product Classification Code:
3.5.2 Standard & Compliances:
3.5.3 Safety
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Reduction in the Prices of Natural Gas
3.6.1.2 Growing Demand for Electric Power Through Clean Energy Sources
3.6.2 Market Restraint Analysis
3.6.2.1 Limited Natural Gas Reserves
3.6.2.2 High Cost of Gas Genset and Presence of Substitutes
3.6.3 Opportunity Assessment
3.7 Business Environment Analysis: Natural Gas Generator Market
3.7.1 Industry Analysis - Porter'S
3.7.2 PESTEL Analysis
3.8 Market Entry Strategies
Chapter 4 Global Natural Gas Generator Market: Power Rating Estimates & Trend Analysis
4.1 Power Rating Movement Analysis & Market Share, 2021 - 2030
4.2 Low Power Genset
4.2.1 Global Natural Gas Generator Market Estimates and Forecasts for Low Power Genset, 2019 - 2030 (Usd Million)
4.3 Medium Power Genset
4.3.1 Global Natural Gas Generator Market Estimates and Forecasts for Medium Power Genset, 2019 - 2030 (Usd Million)
4.4 High Power Genset
4.4.1 Global Natural Gas Generator Market Estimates and Forecasts for High Power Genset, 2019 - 2030 (Usd Million)
Chapter 5 Global Natural Gas Generator Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2021 - 2030
5.2 Industrial
5.2.1 Global Natural Gas Generator Market Estimates and Forecasts for Industrial Application, 2019 - 2030 (Usd Million)
5.3 Commercial
5.3.1 Global Natural Gas Generator Market Estimates and Forecasts for Commercial Application, 2019 - 2030 (Usd Million)
5.4 Residential
5.4.1 Global Natural Gas Generator Market Estimates and Forecasts for Residential Application, 2019 - 2030 (Usd Million)
Chapter 6 Global Natural Gas Generator Market: Regional Estimates & Trend Analysis
Chapter 7 Competitive Landscape
7.1 Key Global Players & Recent Developments & Their Impact on the Industry
7.2 Vendor Landscape
7.2.1 List of Key Distributors and Channel Partners
7.2.2 Key Company Market Ranking Analysis, 2021
7.2.2.1 Competitive Heat Map Analysis
7.2.3 Company Market Position Analysis
7.3 Competitive Landscape
7.4 Strategic Framework
Chapter 8 Company Profiles
8.1 Caterpillar Inc.
8.1.1 Company Overview
8.1.2 Product Benchmarking
8.1.3 Financial Performance
8.1.4 Strategic Initiatives
8.2 Cummins Inc.
8.2.1 Company Overview
8.2.2 Product Benchmarking
8.2.3 Financial Performance
8.2.4 Strategic Initiatives
8.3 Generac Power Systems
8.3.1 Company Overview
8.3.2 Product Benchmarking
8.3.3 Financial Performance
8.3.4 Strategic Initiatives
8.4 Mitsubishi Heavy Industries, Ltd.
8.4.1 Company Overview
8.4.2 Product Benchmarking
8.4.3 Financial Performance
8.4.4 Strategic Initiatives
8.5 Kohler Co. Inc.
8.5.1 Company Overview
8.5.2 Product Benchmarking
8.5.3 Strategic Initiatives
8.6 General Electric
8.6.1 Company Overview
8.6.2 Product Benchmarking
8.6.3 Financial Performance
8.6.4 Strategic Initiatives
8.7 Mtu Onsite Energy GmbH
8.7.1 Company Overview
8.7.2 Product Benchmarking
8.7.3 Strategic Initiatives
8.8 Mahindra Powerol
8.8.1 Company Overview
8.8.2 Product Benchmarking
8.8.3 Strategic Initiatives
8.9 Yanmar Co. Ltd.
8.9.1 Company Overview
8.9.2 Product Benchmarking
8.9.3 Financial Performance
8.10 Coopercorp Generators
8.10.1 Company Overview
8.10.2 Product Benchmarking
For more information about this report visit https://www.researchandmarkets.com/r/7x5723
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