Gas
Generator Market Synopsis
Gas
generators are used to generate electricity by using chemical energy from gas
fuels. It is gaining popularity as an alternative source of electricity. Market
Research Future (MRFR) has studied the global gas
generator market on a detailed segmental and regional basis. It unfolds
that the global market is expanding at a rapid pace and is anticipated to mark
a CAGR of 8% across the forecast period. The gas generator market is likely to
earn considerable amount of revenue over the next couple of years. A gradual
decline in prices of fuel is anticipated to boost the great of the market in
the years to come.
The
rising demand for IT services in the industries has led to rising investments
in gas generators. The deployment of data centers and other IT facilities
require a constant supply of electricity for operational efficiency. It is prognosticated
to augment the gas generator market over the next couple of years. The increasing
problem of power outages is likely to motivate the growth trajectory of gas
generator market in the nearby future. Also, the rising use of these generators
in small scale industries is expected to drive market growth in the foreseeable
future. However, on the flip side, factors such as high maintenance cost and
limited power generation capacity are poised to impede the growth rate of the
gas generator market across the evaluation period.
Regional
Analysis:
The
global gas generator market has been assessed in detail on the basis of four
key regional segments - Europe, Asia Pacific ( APAC), North America, and the
Rest of the world (RoW). These regions are further assessed on the basis of key
countries present. According to the report, currently, Asia Pacific is dictating
the growth pattern of the gas generator market. The region houses some of the
fastest growing economies that exhibit huge demand for electricity. It is
anticipated to drive the expansion of the gas generator market in the upcoming
years. Also, the rising production of the product in China is expected to play
a key role in the development of the gas generator market across the forecast
period.
Market
Segmentation:
By
power capacity, the gas generator market has been segmented into > 300 KW, 301
KW - 1 MW, and < 1 MW.
On
the basis of end-user, the gas generator market has been segmented into commercial
& industrial, residential, and utility.
Competitive
Dashboard:
APR
Energy (USA), General Electric Company (USA), Siemens Ltd. (Germany), Aggreko
plc (U.K), Hyundai Heavy Industries Co., Ltd. (South Korea), Toshiba
Corporation (Japan), Mitsubishi Electric Corporation (Japan), Bharat Heavy
Electricals Limited (India), Hyosung Corporation (South Korea), and Perkins
Engines Company Limited (U.K) are some of the major players of the global gas
generator market. These players are anticipated to seek for expansion over the
next couple of years, thus, intensifying competition in the market place.
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