Press release
Global Natural Gas Generator Market Size, Share, Price, Trends, Growth, Analysis, Report, Forecast 2024-2032
Natural gas generators, known for their efficiency and environmental friendliness, operate by using natural gas as their fuel source. They are increasingly becoming a preferred alternative to diesel generators, especially in areas where natural gas pipelines are readily accessible.
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The escalating demand for continuous and reliable power supply, amidst the growing concerns over environmental sustainability, is a primary driver of the natural gas generator market growth. These generators emit significantly lower levels of harmful pollutants compared to their diesel counterparts, making them an environmentally conscious choice.
The surge in industrialisation and urbanisation, particularly in developing countries, has led to an increased demand for power, thus fueling the growth of the natural gas generator market. Additionally, the expansion of the natural gas pipeline infrastructure has made these generators more accessible and cost-effective for various applications.
The rising adoption of natural gas generators in residential, commercial, and industrial sectors due to their advantages such as lower noise levels, reduced maintenance, and longer lifespan compared to traditional diesel generators, further contributes to the natural gas generator market demand.
Natural gas generators find extensive applications across several sectors. In the industrial sector, they are used for continuous power supply, peak shaving, and as standby power sources. The commercial sector, including hospitals, shopping centres, and offices, relies on these generators for uninterrupted power during outages.
The residential segment is also accounting for a significant portion of the natural gas generator market share, attributed to their cost-effectiveness and reliability in providing backup power.
The global market is poised for significant growth over the next few years. Driven by the need for cleaner energy solutions and reliable power supply, the market is expected to see substantial advancements and wider adoption across various sectors. The period from 2023 to 2028 is set to witness this market play a pivotal role in meeting global energy demands while contributing to environmental sustainability.
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Market Segmentation
The market can be divided based on power rating, end user, application, and region.
Market Breakup by Power Rating
Up to 100 KVA
101-350 KVA
351-750 KVA
Above 750 KVA
Market Breakup by End User
Industrial
Commercial
Residential
Market Breakup by Application
Stand-by
Continuous
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global natural gas generator market. Some of the major players explored in the report by Expert Market Research are as follows:
Aggreko Plc.
Caterpillar Inc.
Cummins Inc.
APR Energy Inc.
Kohler Co.
Generac Holdings Inc.
Rolls-Royce Power Systems AG
General Electric Company
Generator Source, LLC
YANMAR HOLDINGS CO., LTD.
COOPER CORPORATION
Siemens Energy
Toshiba Corporation
Hyosung Group
Others
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FAQs on Global Natural Gas Generator Market
1. What is driving the growth of the global natural gas generator market?
The global natural gas generator market is experiencing significant growth due to several key factors. The primary driver is the increasing demand for reliable and cleaner energy sources. Natural gas generators offer a more environmentally friendly alternative to diesel generators by emitting significantly lower levels of harmful pollutants. Additionally, the rise in industrialization and urbanization, particularly in developing countries, has escalated the demand for power. The expansion of natural gas pipeline infrastructure has also made these generators more accessible and cost-effective for various applications.
2. Why are natural gas generators considered environmentally friendly?
Natural gas generators are deemed environmentally friendly because they operate using natural gas as their fuel source, which burns cleaner than diesel or coal. These generators emit lower levels of harmful pollutants such as carbon dioxide, nitrogen oxides, and sulfur dioxide, making them a preferred choice for reducing environmental impact and contributing to sustainability efforts.
3. How are natural gas generators utilized in different sectors?
Natural gas generators find extensive applications across several sectors due to their efficiency, reliability, and environmental benefits. In the industrial sector, they are used for continuous power supply, peak shaving, and as standby power sources. The commercial sector, including hospitals, shopping centers, and offices, relies on these generators for uninterrupted power during outages. The residential segment also accounts for a significant portion of the market share, attributed to their cost-effectiveness and reliability in providing backup power.
4. What are the advantages of natural gas generators compared to diesel generators?
Natural gas generators offer several advantages over traditional diesel generators, including lower noise levels, reduced maintenance requirements, and a longer lifespan. They are also more environmentally friendly, as they produce fewer emissions. Moreover, in areas with accessible natural gas pipelines, they can be more cost-effective and convenient to operate.
5. What is the projected growth rate of the natural gas generator market from 2024 to 2032?
The global natural gas generator market is projected to grow at a compound annual growth rate (CAGR) of 7.1% between 2024 and 2032. This growth is supported by the increasing demand for cleaner and more reliable energy solutions across various sectors and regions.
6. How is the natural gas generator market segmented?
The natural gas generator market is segmented based on power rating, end-user, application, and region. By power rating, it is divided into up to 100 KVA, 101-350 KVA, 351-750 KVA, and above 750 KVA. In terms of end-user, the market is categorized into industrial, commercial, and residential sectors. By application, it includes stand-by and continuous power sources. Regionally, it covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
7. Who are the major players in the global natural gas generator market?
Some of the major companies operating in the global natural gas generator market include Aggreko Plc., Caterpillar Inc., Cummins Inc., APR Energy Inc., Kohler Co., Generac Holdings Inc., Rolls-Royce Power Systems AG, General Electric Company, Generator Source, LLC, YANMAR HOLDINGS CO., LTD., COOPER CORPORATION, Siemens Energy, Toshiba Corporation, and Hyosung Group, among others.
8. What recent developments have occurred in the natural gas generator market?
Recent developments in the natural gas generator market include technological advancements that improve efficiency and reduce emissions, expansion of natural gas infrastructure making these generators more accessible, and increased adoption across various sectors due to their environmental and operational benefits. Additionally, strategic investments, mergers, and acquisitions among leading companies have also contributed to the market's growth and competitive landscape.
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