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The market for gas gensets is anticipated to expand at a 7.00% CAGR from 2023 to 2030.
Reciprocal internal combustion engines known as gas gensets are utilised for distributed power generation all over the world. The highest level of demand has been seen for diesel gensets worldwide. A generator's operations are powered by diesel. However, several nations have established a number of standards in an effort to control the high levels of toxic emissions from diesel-powered gensets. It is anticipated to have an immediate favourable impact on the market for gas gensets worldwide.The expanding energy demand-supply imbalance, growing industrialisation, low operating costs, and rising carbon emissions are what are driving the trends in demand for gas gensets. They are utilised as a backup power source during grid failure or power outages in a variety of end-user segments including the pharmaceutical and health care industries, communication and transportation systems, landfill sites, and manufacturing and water treatment facilities. Due to the rise in environmental concerns, higher awareness of greenhouse gas emissions, and volatility in the oil & gas market, the market for gas gensets is anticipated to grow at a healthy rate soon.
The factors projected to propel the worldwide gas genset market are rising carbon emissions, cheap operating costs, and greater efficiency of gas gensets compared to diesel gensets. From 2014 to 2016, the annual carbon emissions stayed constant. But in 2017, emissions increased by 1.6%. Therefore, the market for gas gensets is anticipated to be driven by rising carbon emissions throughout the forecast period. worldwide carbon emission reduction targets and the widening energy demand-supply imbalance are two reasons that are anticipated to present attractive business prospects to the worldwide gas genset industry. Both industrialised and developing nations have carbon emission reduction plans. For instance, the US has set a goal to reduce carbon emissions by 25 to 31% by 2030 when compared to 1990 levels. Targets are set at 38% to 48% for Japan, 26% to 41% for Canada, and 14 to 27% for Russia. In comparison to 1990 levels, the targets for emerging nations are 19% to 34% for China, 30% to 37% for Mexico, 12% to 21% for Indonesia, 13% to 17% for India, 32% to 49% for Brazil, and 12% to 21% for Indonesia by 2030.
The market for gas gensets has been divided into segments based on region, end-user, application, fuel, and power rating. The market is divided into categories for natural gas, biogas, and other fuels. Due mostly to the availability of natural gas, the natural gas category is dominating the market and holding the greatest market share. Based on power rating, the market for gas gensets is further divided into four categories: up to 100 KVA, 100-350 KVA, 350-1000 KVA, and Above 1000 KVA. The global gas genset market is divided into standby, peak shaving, and continuous segments based on application. In 2017, the standby sector dominated the global gas genset market. The industrial, residential, and commercial end-user segments make up the worldwide gas genset market. During the forecast period, the residential segment is anticipated to develop at the greatest rate in the worldwide gas genset market.
Due to the reduction of carbon emissions and the accessibility of natural gas, the global market for gas gensets is anticipated to expand significantly over the course of the forecast period. By region, North America is anticipated to have the fastest rate of market growth. This is a result of the increased production of shale gas and natural gas in the area. Due to lowering natural gas prices and government efforts to reduce carbon emissions, the US is anticipated to dominate the North American market for gas generators. Due to increased natural gas production in Southeast Asian nations in the region, the Asia-Pacific region also presents significant commercial opportunities in the gas genset market.
Report Coverage
Global Gas Genset research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Gas Genset report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Gas Genset competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Gas Genset market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Gas Genset market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Gas Genset market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Gas Genset market based on the below-mentioned segments:
Global Gas Genset Market, By Fuel
Natural Gas
Biogas
Others
Global Gas Genset market, By Application
Standby
Peak Shaving
Continuous
Global Gas Genset market, Regional Analysis
Reciprocal internal combustion engines known as gas gensets are utilised for distributed power generation all over the world. The highest level of demand has been seen for diesel gensets worldwide. A generator's operations are powered by diesel. However, several nations have established a number of standards in an effort to control the high levels of toxic emissions from diesel-powered gensets. It is anticipated to have an immediate favourable impact on the market for gas gensets worldwide.The expanding energy demand-supply imbalance, growing industrialisation, low operating costs, and rising carbon emissions are what are driving the trends in demand for gas gensets. They are utilised as a backup power source during grid failure or power outages in a variety of end-user segments including the pharmaceutical and health care industries, communication and transportation systems, landfill sites, and manufacturing and water treatment facilities. Due to the rise in environmental concerns, higher awareness of greenhouse gas emissions, and volatility in the oil & gas market, the market for gas gensets is anticipated to grow at a healthy rate soon.
The factors projected to propel the worldwide gas genset market are rising carbon emissions, cheap operating costs, and greater efficiency of gas gensets compared to diesel gensets. From 2014 to 2016, the annual carbon emissions stayed constant. But in 2017, emissions increased by 1.6%. Therefore, the market for gas gensets is anticipated to be driven by rising carbon emissions throughout the forecast period. worldwide carbon emission reduction targets and the widening energy demand-supply imbalance are two reasons that are anticipated to present attractive business prospects to the worldwide gas genset industry. Both industrialised and developing nations have carbon emission reduction plans. For instance, the US has set a goal to reduce carbon emissions by 25 to 31% by 2030 when compared to 1990 levels. Targets are set at 38% to 48% for Japan, 26% to 41% for Canada, and 14 to 27% for Russia. In comparison to 1990 levels, the targets for emerging nations are 19% to 34% for China, 30% to 37% for Mexico, 12% to 21% for Indonesia, 13% to 17% for India, 32% to 49% for Brazil, and 12% to 21% for Indonesia by 2030.
The market for gas gensets has been divided into segments based on region, end-user, application, fuel, and power rating. The market is divided into categories for natural gas, biogas, and other fuels. Due mostly to the availability of natural gas, the natural gas category is dominating the market and holding the greatest market share. Based on power rating, the market for gas gensets is further divided into four categories: up to 100 KVA, 100-350 KVA, 350-1000 KVA, and Above 1000 KVA. The global gas genset market is divided into standby, peak shaving, and continuous segments based on application. In 2017, the standby sector dominated the global gas genset market. The industrial, residential, and commercial end-user segments make up the worldwide gas genset market. During the forecast period, the residential segment is anticipated to develop at the greatest rate in the worldwide gas genset market.
Due to the reduction of carbon emissions and the accessibility of natural gas, the global market for gas gensets is anticipated to expand significantly over the course of the forecast period. By region, North America is anticipated to have the fastest rate of market growth. This is a result of the increased production of shale gas and natural gas in the area. Due to lowering natural gas prices and government efforts to reduce carbon emissions, the US is anticipated to dominate the North American market for gas generators. Due to increased natural gas production in Southeast Asian nations in the region, the Asia-Pacific region also presents significant commercial opportunities in the gas genset market.
Report Coverage
Global Gas Genset research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Gas Genset report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Gas Genset competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Gas Genset market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Gas Genset Market from 2021 to 2030.
- Market Forecast for Gas Genset Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Gas Genset competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Gas Genset
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Gas Genset market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Gas Genset market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power
Primary Target Market
- Market Players of Gas Genset
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Gas Genset market based on the below-mentioned segments:
Global Gas Genset Market, By Fuel
Natural Gas
Biogas
Others
Global Gas Genset market, By Application
Standby
Peak Shaving
Continuous
Global Gas Genset market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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