Natural Gas Generators Market Trends, Share, Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast 2028
Available Sample Report-
List Of Key Companies Profiled in Natural Gas generator Market Are
Atlas Copco (Sweden)
Caterpillar Inc. (United States)
Cummins Inc. (United States)
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)
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Requisition for Uninterrupted Power Supply on Account of Tremendous Economic Growth
The multifold growth in varied industrial sectors coupled with population explosion set to increase the demand for reliable and continuous power supply. Information and communication technology is playing a crucial role in shaping the industry size as every single data center requires a generator to avoid power outage. Also, in many commercial and industrial applications, gas-fired generators are widely used to meet the increased demand for electricity. Subsequently, the natural gas generator industry expected to see robust growth in the forecasted period.
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.
Natural gas generators demonstrates a robust growth in the forecasted period on account of the energy transition phase. Utility operators and industrial players are moving towards clean energy technology and turning down coal-fired power plants into gas-fired plants. The ultimate goal is to achieve sustainable energy development through advanced and clean energy technologies. North America exhibited strong growth due to massive investment in exploration and production of shale reserves. In 2016, the EIA stated that natural gas-fired generators accounted for 42% of the operating electricity generating capacity in the United States. The increase in natural gas generation is primarily a result of the cost-competitiveness of natural gas relative to coal. Europe is acting sternly to mitigate the severe threat of global warming. The European Union was drafting policies for supporting clean energy technologies. Many coal-fired power plants are slumped as natural gas gained across UK, France, and Germany that will upsurge the demand for natural gas generator in Europe.
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