Press release
Distributed Natural Gas-Fueled Generation Market: Key Players, Significant Growth, and Market Trends for 2024-2029
Expanding from $33.27 billion in 2024 to projected $57.82 billion by 2029, the distributed natural gas-fueled generation market is boosted by energy security concerns, grid resilience, and government policies.
What Is The Projected Market Size Of The Global Distributed Natural Gas-Fueled Generation Market And Its Growth Rate?
• The market size for distributed natural gas-fueled generation was $33.27 billion in 2024 and is expected to reach $36.88 billion in 2025, a CAGR of 10.8%.
• Rapid growth is projected in the coming years, with an estimated size of $57.82 billion by 2029 at a CAGR of 11.9%.
• Growth drivers include energy security concerns, grid resilience and energy independence, along with environmental considerations and economic viability.
What Is Driving The Growth In The Distributed Natural Gas-Fueled Generation Market?
The increasing utilization of natural gas is a significant factor in promoting the growth of the distributed natural gas-fueled generation market. Natural gas, a versatile and naturally occurring energy source, is predominantly used for heating and power generation. The International Energy Agency (IEA), a France-based intergovernmental agency, reports that global natural gas consumption between 2021 and 2025 is anticipated to increase by a whopping 140 billion cubic meters. This surge in natural gas usage primarily drives the progress of the distributed natural gas-fueled generation market.
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Who Are the Key Players Driving Distributed Natural Gas-Fueled Generation Market Growth?
• General Electric Company
• MWM GmbH
• ABB Group
• Cummins 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.
• Baker Hughes Company
• Halliburton
• Honeywell International Inc.
• Royal Dutch Shell
• Calix Limited
What Are The Key Trends In The Distributed Natural Gas-Fueled Generation Market?
• Technological innovations in microgrids
• Advancements in gas turbine technology
• Greater integration with renewable energy sources
• Environmental considerations in technology development
What Are The Segments Of The Global Distributed Natural Gas-Fueled Generation Market?
• By Technology: Natural Gas Gensets, Micro Turbine, Stationary Fuel Cells
• By Scale: Microgeneration, Small-Scale Generation, Medium-Scale Generation, Large-Scale Generation
• By End User: Residential, Commercial And Industrial, Building And Institutional
Which Region Leads The Distributed Natural Gas-Fueled Generation Market?
North America was the dominant region in the distributed natural gas-fueled generation market in 2024. However, Asia-Pacific is anticipated to be the fastest-growing region during the predicted forecast period.
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What Is Covered In The Distributed Natural Gas-Fueled Generation Market Global Market Report?
- Market Size Analysis: Analyze the Distributed Natural Gas-Fueled Generation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Distributed Natural Gas-Fueled Generation 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 Distributed Natural Gas-Fueled Generation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Distributed Natural Gas-Fueled Generation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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