April 03, 2020
As per the report titled ‘Global Gas Generator Sets Market Size By Power Rating), By End-Use, By Application, Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019- 2025’, available with Market Study Report LLC, the global gas generator sets market is anticipated to cross USD 9 billion by the year 2025
Rising need for energy security and growing concerns over carbon emissions, in conjunction with increasing number of stringent environmental regulations is driving the growth of gas generator sets market.
Based on end-use spectrum, gas generators sets market is classified into residential, commercial, and industrial. Market share from industrial sector is presumed to grow modestly during the forecast period, owing to the pressure of complying with the strict standards for sustainable and improved environmental performance across the production facilities. Stable and competitive price of natural gas as compared to its counterparts is boosting the demand for industrial gas gensets.
Speaking of the application scope, the market is categorized into standby, peak shaving, prime/continuous. Standby gas generator sets market segment is anticipated to record significant growth in the coming years, on account of technological advancements and innovations in low emission gas operated engines. Modified gas fired engines offer high adaptability with load acceptance standards and code driven start times. This factor coupled with the reconfiguration capability of gas engines is augmenting the segment growth.
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Considering the geographical landscape, gas generator sets market in the Middle East will record momentous growth through 2025, owing to rising inclination towards economic diversification, and ongoing infrastructure development. Favorable scenarios in oil rich countries including UAE and Saudi Arabia will boost the product penetration across the region.
U.K gas generator sets market is also slated to show sizeable growth during 2019-2025, owing to implementation of strict emission & environmental mandates including the Stage V limits by the EU. Rising trend of using lower emission power sources including natural gas and dual fuel configurations, coupled with integration of renewable sources to the grid will further the regional business growth in the years to come.
Major players of gas generator sets market are Cummins, SDMO Industries, Briggs & Stratton, Generac, Caterpillar, Himoinsa, MTU Onsite Energy, Mahindra Powerol, Mitsubishi Heavy Industries, Stemac, FG Wilson, MAN Turbomachinery, Genmac and GE.
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