Global
Gas Genset Market - Overview
The global Gas Genset market is estimated to expand
at ~5.00% CAGR during the forecast period.
Gas
genset is used for generating gas by a chemical reaction or from a solid or
liquid source. Gas gensets possess various advantages which makes in a
preffered in various applications. For instance, gas genset has best fuel
efficiency, low operating cost, well suited for CHP operation, and well suited
for variable load applications, among others. Due to these advantages, the
demand for gas genset tend to increase during the forecast period.
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Prominent Players
The
key players of global gas genset market are Caterpillar, Cummins, Wartsila,
Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC,
Himoinsa, and Sudhir Power. among others.
Market
Highlights
Gas genset consists of a gas engine and generator.
The engine converts the chemical energy of a fuel to mechanical energy and this
mechanical energy is used to spin the alternator rotor, thereby converting the
mechanical energy to electrical energy. The alternator consists of two parts
i.e. a rotor and stator. The various fuel includes natural gas, biogas, and
others. The other components of genset are fuel day tank, basecamp, cooling
system, and an enclosure, if needed. Gensets provide energy mostly in
geographical areas which are not connected to power grid and in areas with
frequent power outages. So, gensets can be used either as a main source of
energy or as a supplementary source of power.
The gas gensets are environment friendly and produces lower carbon,
sulfur, and nitrogen emissions.
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The growing demand for Gas Genset is attributed to
increasing industrialization, especially in developing countries such as China
and India. Generators are becoming popular in commercial and industrial
applications as they provide uninterrupted power supply which is an important
aspect of any manufacturing facility for uninterrupted production activities.
Moreover, factors such as extreme weather conditions, stringent environmental
norms, and infrastructural developments are likely to drive the gas genset market.
Asia-Pacific and North America are expected to witness a strong growth for gas
gensets as there is abundant natural gas available in these regions.
Natural gas segment in
global Gas Genset market holds the highest market share in 2017.
The market for Gas Genset is segmented based on fuel
as natural gas, biogas, and others. The natural gas segment dominates the
market. Natural gas industry in North America has transformed in the last
decade due to shale gas exploration which has dramatically revitalized natural
gas exploration and production. Moreover, natural gas is rapidly moving from
being a commodity traded between certain regions towards the commodity traded
globally on a much larger scale.
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