Natural Gas Generator Market Size, Segmentation, Parameters, and Forecast by 2030

The Natural Gas Generator Market has been witnessing steady growth, driven by rising power demand, grid reliability concerns, and increasing shale gas production. Natural gas generators utilize gas fuels for power generation used in standby, prime, or peak shaving applications.

Market Highlights and Statistics:

● The global natural gas generator market is projected to grow from USD 5.7 billion in 2021 to USD 9.8 billion by 2030, at a CAGR of 6.3%.
● North America held the largest revenue share of over 35% in 2021.

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Market Analysis:

The natural gas generator market outlook remains positive driven by increasing electricity consumption, expansion of gas pipeline infrastructure, and shale gas production boosting availability. Stringent emissions regulations also compel industries to adopt natural gas gens over diesel gens. However, competition from renewables poses challenges. The natural gas generator market outlook remains positive underpinned by electricity reliability concerns and clean energy transition. However, competition from renewables poses challenges. Leading players should thus focus on efficiency, hybrid systems and flexible offerings.

Current Market Trends:

Deployment of smart natural gas gensets enabling remote monitoring and control.
Adoption of gas generators integrated with batteries and renewables.
Growing development of medium and large-scale gas gensets for grid stability.
Increased adoption of gas generators to ensure continuous power supply across data centers.
Rising availability of LNG leading to its uptake as a cost-effective fuel for NG gensets.

Growth Drivers:

Rising power consumption necessitating investments in peaker plants.
Expansion of natural gas pipeline infrastructure globally.
Shale gas production augmenting natural gas availability.
Stringent emissions regulations driving adoption of clean fuels like natural gas.
Increased decentralization and demand for standby power backup across industries.
Aging grid infrastructure and frequent power outages in developing countries.

Challenges:

Emergence of renewable energy generation posing competition.
High initial cost of procurement and installation.
Periodic maintenance adding to long term operating costs.
Requirement of specialized technical skills for efficient operations.
Transportation and storage safety issues and related compliances.

Segmentation:

The Natural Gas Generator can be segmented by phase, RPM, material, and application. Key phases are 3-phase and single-phase motors. Major RPM ranges are 1800 rpm, 3600 rpm, and 2300-2900 rpm motors. Main materials used are aluminum and composite motors. Key applications for HVAC motors are in commercial buildings and residential buildings.

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Regional Analysis:

North America accounts for over 35% market share presently. Investments by shale gas producers and power reliability concerns in the region support the uptake. The Asia Pacific market will witness strong growth considering rising urbanization and electricity demand.

Key Players:

Caterpillar Inc., Cummins Inc., Generac Power Systems, Kohler Co., MTU Onsite Energy, Siemens AG, Wartsila Corporation, General Electric Company, Clarke Energy, Himoinsa S.L., Briggs & Stratton, Aggreko PLC, Perkins, Doosan, ABB.

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This release was published on openPR.