Natural Gas Generator Market to Register Huge Growth at 11.4% CAGR During the Forecast Period 2022-2030

Posted on 2023-01-11 by researchinsights in Energy // 0 Comments

San Francisco, California , USA, Jan 11, 2023 — /EPR Network/ —

Natural Gas Generator Industry Overview

The global natural gas generator market size was valued at USD 7.13 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 11.4% during the forecast period.

The rising occurrence of power outages and power supply deficits globally, combined with regulations imposed on the use of diesel gensets due to high levels of carbon emissions, is driving the global demand for natural gas generators. However, the high capital cost of natural gas genset as compared to diesel genset coupled with limited natural gas reserves is expected to restrict the growth of the business.

Gather more insights about the market drivers, restrains and growth of the Global Natural Gas Generator Market

The U.S. natural gas generator market accounted for the largest market share in 2021 in the North American market, and the trend is projected to continue during the forecast period due to the growing concern for carbon emissions caused by diesel gensets and the availability of natural gas as a fuel for gensets. Moreover, growing industrial and commercial facilities, such as shopping malls, high rises, universities, restaurants, district heating, and cooling plants, refineries, office buildings, and others in the U.S., are driving the demand for uninterrupted electricity supply to expand businesses and perform operations efficiently, which propels the demand for natural gas gensets.

Natural disasters and severe weather conditions due to climate change have resulted in extended power outages, driving demand for backup power as a necessary amenity in commercial, residential, and industrial buildings. The abundance of natural gas in the United States, combined with the well-developed infrastructure for transporting it within the country, has fueled the demand for generator sets in the United States. Gas generator sets are becoming more popular than diesel generator sets due to the country’s shale gas revolution, and this trend is expected to continue in the coming years.

Browse through Grand View Research’s Distribution & Utilities Industry Research Reports.

Distributed Energy Generation Market – The global distributed energy generation market size to be valued at USD 580.8 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% during the forecast period.
Industrial Batteries Market – The global industrial batteries market size to be valued at USD 27.4 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% during the forecast period.

Natural Gas Generator Market Segmentation

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

Natural Gas Generator Power Rating Outlook (Revenue, USD Million, 2019 – 2030)
- Low Power Genset
- Medium Power Genset
- High Power Genset
Natural Gas Generator Application Outlook (Revenue, USD Million, 2019 – 2030)
- Industrial
- Commercial
- Residential
Natural Gas Generator Regional Outlook (Revenue, USD Million, 2019 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Natural Gas Generator market include

Caterpillar Inc.
Cummins Inc.
Generac Power System
Mitsubishi Heavy Industries, Ltd.
Kohler Co., Inc.
General Electric
MTU-onsite Energy GMBH
Mahindra Powerol
Yanmar Co., Ltd.
Coopercorp Generators

Order a free sample PDF of the Natural Gas Generator Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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