An electric generator is also known as genset, an alternative and consistent source that converts fuel into electrical energy. Gas generators are the most common type of generators, designed for maximum electrical power with high reliability, availability and low operating and service costs.
Gas generator is a device used for power generation by utilizing the chemical energy from gaseous fuel. The increasing acceptance of gas generators across the all major end users is contributing immensely to the growth of gas generators market. The gradual downfall and frequent fluctuation in internal oil & gas prices has created a huge potential for gas generator market to evolve over the forecast period.
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Gas Generator Market Dynamics
The global gas generator market is anticipated to witness a gradual growth rate over the forecast period, prominently supported by shortage of reliable grid infrastructure, particularly in developing economies. Rapid industrialization is one of the key growth driving factors that has fueled the demand for global gas generator market.
Industrial activities require heavy-duty generators for different operating conditions, such as marine, mining and oil and gas exploration. Apart from this, other factors that have propelled the demand for gas generator in the market are relatively low installation and the running cost of gas generator in comparison with alternative power sources. The stringent emission regulations of the government, which focuses on lowering the greenhouse gas emissions and reducing the carbon footprint is expected to hamper the growth of gas generator market over the forecast period. These regulations have led to an increasing shift towards natural gas generators.
Moreover, low natural gas prices and volatile diesel fuel costs have led to end users preferring gas generators over diesel generators. The mounting need for uninterrupted power supply during power outages and power failure has propelled the adoption of gas generators in all major sectors. Extraordinary growth in healthcare infrastructure, rising demand for data centers & IT facilities and rapid urbanization in developing countries are driving the global gas generator market.
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Gas Generator Market- Regional Analysis
The global gas generator market is segmented into seven regions: North America, Europe, East Asia, South Asia, Oceania, Latin America and Middle East & Africa. Globally, North America regions held the largest market share in the gas generator market with the U.S. being the major market for gas generator followed by Europe. The market for gas generator in the East Asian countries has also increased. China spends a substantial amount on energy infrastructure from the total GDP contribution. The demand for gas generators in Japan is rising at a robust pace owing to the increasing infrastructure and population.
The market for gas generators in South Asian Countries, mainly India and Indonesia, also shows significant growth and is likely to maintain consistency over the forecast period. The demand in European countries is also gaining pace at a robust rate. The demand for gas generators in MEA region is rising at a healthy pace owing to the availability of natural resources. The Latin America regions show decent growth in the demand for gas generator market.
Gas Generator Market- Key Segments
According to the type, gas generator is segmented as:
- Portable
- Stationary
According to the power capacity, gas generator is segmented as:
- Less than 300 kW
- 301 kW – 1MW
- Above 1 MW
According to the end user, gas generator is segmented as:
- Residential
- Commercial
- Industrial
- Oil & Gas
- Marine & Defense
- Mining
- Utility
- Automotive
- Others
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Gas Generator Market- Key Manufacturers
The key manufactures for gas generator in the market are APR Energy, Siemens Ltd., General Electric Company, Aggreko plc, Toshiba Corporation, Hyundai Heavy Industries Co., Ltd., Mitsubishi Electric Corporation, Hyosung Corporation, Bharat Heavy Electricals Limited and Perkins Engines Company Limited.
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