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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Industry
Segmentation
Global gas genset market has been
segmented based on fuel, power rating, application, end-user, and region. Based
on fuel, the market is classified into natural gas, biogas, and others. Natural
gas segment is leading the market and has the largest market share, mainly due
to availability of natural gas. The global gas genset market is further
segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and
Above 1000 KVA. Based on application,
the global gas genset market is segmented into standby, peak shaving, and
continuous. Standby segment led the
global gas genset market in 2017. The global gas genset market is segmented by
end-user into industrial, residential, and commercial. Residential segment is
estimated to register the highest growth rate in the global gas genset market
during the forecast period.
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Global gas genset market is expected to
witness substantial growth during the forecast period owing to minimization of
carbon footprint and availability of natural gas. North America is expected to
be the fastest-growing market, by region, during the forecast period. This is
due to the rising production of natural gas and shale gas in the region. US is
expected to dominate the gas genset market in North America owing to declining
prices of natural gas and due to carbon emission reduction targets.
Asia-Pacific also offers promising business opportunities in the gas genset
market owing to rising natural gas production in Southeast Asian countries in
the region.
Key
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.
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