Increasing Energy Consumption Across The Globe: The Driving Engine Behind Gas Generator Sets Market Evolution in 2025

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Gas Generator Sets Market Size Growth Forecast: What to Expect by 2025?
The market size of gas generator sets has shown a consistent upwards trend in the past few years. It is projected to expand from $8.94 billion in 2024 to $9.36 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.7%. This growth during the historical period can be attributed to a rise in requirements for dependable backup power systems, increased focus on energy security and grid stability, development of industrial and commercial infrastructure, an increase in the production and availability of natural gas, and the necessity for a constant power supply in critical applications.

How Will the Gas Generator Sets Market Size Evolve and Grow by 2029?
Significant expansion is forecasted in the gas generator sets market with its value projected to reach $11.41 billion by 2029, advancing at a compound annual growth rate of 5.1%. The predicted growth during this period stems from factors such as the incorporation of gas generator sets into hybrid and microgrid systems, increasing demand for energy-efficient combined heat and power systems, the use of lower-emission and renewable sources of natural gas, tailor-made generator sets for particular industrial use, and emphasis on decentralized power generation and distributed energy sources. Trends anticipated to shape the market in the upcoming period include hybrid and multi-energy systems, smart and off-site monitoring capabilities, high-efficiency combined heat and power applications, emission-reducing and emission-neutral technologies, and state-of-the-art control and synchronization systems.

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What Drivers Are Propelling the Growth of Gas Generator Sets Market Forward?
The rise in energy use worldwide is anticipated to drive the gas generator sets market's expansion. Factors such as population growth, urbanization, net income, and industrial activities in both advanced and emerging economies have led to a significant increase in electricity consumption globally. This surge in electricity usage is predicted to fuel the demand for gas generator sets, as industries, commercial and residential sectors invest in portable power solutions like gas generators to mitigate frequent power cuts. As per the International Energy Agency's (IEA) July 2021 Electricity Market Report, global electricity demand is projected to increase by 5% from 2020 to 2021, and 4% from 2021 to 2022. China and India are predicted to contribute to 9% of the worldwide growth. Thus, the global rise in energy usage is driving the growth of the gas generator sets market.

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Which Emerging Trends Are Transforming the Gas Generator Sets Market in 2025?
Product innovation has emerged as a primary trend that's gaining traction in the gas generator sets market. Numerous businesses in this industry are introducing innovative products incorporated with advanced technologies to solidify their market presence. For example, Kirloskar Oil Engines Limited -- a sustainable and customer-driven solution provider from India active in the gas generator sets market -- put forth a range of gas-powered generators in August 2022. These IoT-integrated gas generators offer efficient performance even in extremely chilly conditions on PNG and come equipped with a digital monitoring system that allows users to remotely oversee crucial statistics and the performance of the generator in real-time from any location. Furthermore, these generators have noise and emission levels that are substantially lower than those of a traditional generator set.

What Are the Key Segments in the Gas Generator Sets Market?
The gas generator sets market covered in this report is segmented -

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

Subsegments:
1) By Natural Gas: Spark Ignition Gas Generators, Dual-Fuel Generators
2) By Biogas: Anaerobic Digestion Systems, Landfill Gas Generators
3) By Other Fuel Types: Propane, Synthetic Gas, Hydrogen

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Who Are the Key Players Shaping the Gas Generator Sets Market's Competitive Landscape?
Major 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 Geographic Markets Are Powering Growth in the Gas Generator Sets Market?
North America was the largest region in the gas generator sets market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas generator sets market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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