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Distributed Natural Gas-Fueled Generation Market 2024 - Size, Share, Trends, Growth Analysis, and Outlook until 2033
Distributed Natural Gas-Fueled Generation Market
The distributed natural gas-fueled generation market size is expected to see rapid growth in the next few years. It will grow to $50.6 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to renewable natural gas integration, grid decentralization initiatives, energy storage integration, government incentives and policies, resilience planning. Major trends in the forecast period include technological innovations in microgrids, advancements in gas turbine technology, technology advancements, integration with renewables, environmental considerations.
Market Overview -
Distributed natural gas-fueled generation refers to the pipelines used for distribution as well as the metering and regulating apparatus at metering-regulating stations that are run by a local distribution company operating within a single state and governed as a separate operating company by a public utility commission or that are run as an independent municipally owned distribution system.
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Growing Global Usage Of Natural Gas Surged Distributed Natural Gas Market
The rising usage of natural gas is expected to propel the growth of the distributed natural gas-fueled generation market going forward. Natural gas refers to a naturally occurring flammable gas that can be used as fuel or an energy source for many things, including heating, cooking, moving around, and producing power. Natural gas is mostly used for heating and producing power, but other consumer sectors also use it for other purposes. Natural gas is used in the fueled generation to create useful thermal output and generate electricity. For instance, in July 2022, according to the International Energy Agency (IEA), a France-based intergovernmental agency reports, between 2021 and 2025, global natural gas consumption is anticipated to increase by a total of 140 billion cubic meters. Therefore, the rising usage of natural gas is driving the growth of the distributed natural gas-fueled generation market.
Competitive Landscape -
Major companies operating in the distributed natural gas-fueled generation market report are General Electric Company, MWM GmbH, ABB Group, Cummins Inc., Plug Power System Inc., Shandong Lvhuan Power Equipment Co. Ltd., Redox Power Systems, Caterpillar Inc., Generac Power Systems, Mitsubishi Heavy Industries Ltd., Kohler Co. Inc., MTU Onsite Energy GmbH, Mahindra Powerol Ltd., Yanmar Co. Ltd., Coopercorp Generators, Siemens AG, Rolls-Royce Holdings PLC, Wärtsilä Corporation, MAN Energy Solutions SE, Kawasaki Heavy Industries Ltd., Sinopec, British Petroleum Company p.l.c, Chevron Corporation, Lukoil, Occidental Petroleum Corporation, ExxonMobil Corporation, Dakota Gasification Company, NRG Energy Inc., Air Liquide S.A., Aker Solutions ASA, Baker Hughes Company, Fluor Corporation, Halliburton, Honeywell International Inc., Japan CCS Co. Ltd., LanzaTech Inc., Royal Dutch Shell, Calix Limited
Enhanced Precision In Distributed Natural Gas-Fueled Generation Market
Technological advancements are a key trend gaining popularity in the distributed natural gas-fueled generation market. Companies operating in the distributed natural gas-fueled generation market are adopting new technologies to sustain their position in the market. For instance, in April 2021, ABB Ltd, a Switzerland-based automation company launched new drone-based gas detection system technology. In this technology, drones gather survey-level data that can precisely determine the site of the leak and even provide details on the type of gas and projected leak rate.
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Key Segments -
The distributed natural gas-fueled generation market covered in this report is segmented -
1) By Technology: Natural Gas Gensets, Micro Turbine, Stationary Fuel Cells
2) By Scale: Microgeneration, Small-Scale Generation, Medium-Scale Generation, Large-Scale Generation
3) By End User: Residential, Commercial And Industrial, Building And Institutional
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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