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Gas Generator Sets Market Driven by Growing Demand for Reliable Backup Power and Emphasis on Energy Security
Gas Generator Sets Market
What Is The Projected Market Size Of The Global Gas Generator Sets Market And Its Growth Rate?
o The gas generator sets market increased from $8.94 billion in 2024 to $9.36 billion in 2025 at a CAGR of 4.7%, due to the rise in the emphasis on energy security and grid resilience, expansion of industrial and commercial infrastructure, rise in natural gas production and availability, and the need for continuous power supply in critical applications.
o It is projected to grow further to $11.41 billion in 2029 at a CAGR of 5.1%, fueled by integration of gas generator sets in hybrid and microgrid systems, demand for combined heat and power (chp) systems for energy efficiency, adoption of low-emission and renewable natural gas sources, customization of generator sets for specific industrial applications, and focus on decentralized power generation and distributed energy resources.
What Is Driving The Growth In The Gas Generator Sets Market?
The increasing global energy consumption is expected to drive the growth of the gas generator sets market. Rapid growth in factors like population, urbanization, net capital income, and industrial activities in both developed and developing economies have contributed to growing electricity consumption worldwide. This rise in electricity consumption is expected to boost demand for gas generator sets as industries, commercial and residential units are investing in portable power units like gas generators to counter regular power outages. The International Energy Agency (IEA) estimates that global electricity demand will grow by 5% during 2020-21, and 4% during 2021-22, with China and India alone expected to account for 9% of global growth.
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Who Are the Key Players Driving Gas Generator Sets Market Growth?
Key companies operating in the gas generator sets market include:
- Cummins Inc.
- Briggs & Stratton Corporation
- Kohler Co.
- Generac Power Systems Inc.
- Caterpillar Inc.
- General Electric Company
- Siemens AG
- Rolls-Royce Power Systems AG
- Wärtsilä Corporation
- Doosan Infracore Co. Ltd.
- Mitsubishi Heavy Industries Ltd.
- Yanmar Co. Ltd.
- Himoinsa S.L.
- Perkins Engines Company Limited
- Deutz AG
- MAN Energy Solutions SE
- INNIO Group
- Baudouin
- JCB Power Products Ltd.
- Liebherr Group
- Atlas Copco AB
- Volvo Penta
- John Deere Power Systems
- Scania AB
- WhisperPower B.V.
- Mase Generators
- FG Wilson (Engineering) Ltd.
- SDMO Industries SAS
- Hitzinger GmbH
What Are The Key Trends In The Gas Generator Sets Market?
Key trends in the gas generator sets market include:
- The growing integration of gas generator sets in hybrid and microgrid systems.
- Rising demand for combined heat and power (chp) systems for energy efficiency.
- Increased adoption of low-emission and renewable natural gas sources.
- Customization of generator sets for specific industrial applications.
- Focus on decentralized power generation and distributed energy resources.
- The emergence of hybrid and multi-energy systems.
- Advancements in smart and remote monitoring capabilities.
- High-efficiency combined heat and power (chp) applications.
- Low-emission and emission-neutral technologies.
- Advanced control and synchronization systems.
What Are The Segments Of The Global Gas Generator Sets Market?
The gas generator sets market is segmented into:
1) By Fuel Type: Natural Gas, Biogas, Other Fuel Types
2) By Power Rating: Less Than 50 kVA, 51 kVA - 125 kVA, 126 kVA - 200 kVA, 201 kVA - 330 kVA, 331 kVA - 750 kVA, Above 750 kVA
3) By Application: Standby, Peak Shaving, Prime Or Continuous
4) By End-User: Residential, Industrial, Commercial, Power and Energy, Other End-Users
Which Region Leads The Gas Generator Sets Market?
North America was the largest region in the gas generator sets market in 2024, while Asia-Pacific is expected to be the fastest-growing region in the future. These regional insights include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa as covered in the gas generator sets market report.
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What Is Covered In The Gas Generator Sets Market Global Market Report?
- Market Size Analysis: Analyze the Gas Generator Sets Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Gas Generator Sets Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Gas Generator Sets Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Gas Generator Sets Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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