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. Adapting to the recent novel COVID-19
pandemic, the impact of the COVID-19
on Gas Generator Market is included in the present report.
Developing
nations exhibit immense potential for the growth of the gas generator market.
The rapid industrialization in these economies requires huge investments for
continuous supply of power. It is anticipated to impact the gas generator
market positively in the coming years. In addition, the rising demand for
electricity in these regions is also poised to influence the boom in the gas
generator market across the assessment period. The rising urban population of
the regions is projected to drive the growth of the gas generator market in the
forthcoming years. It is anticipated to fuel the demand for electricity, which
in turn, is poised to catalyze the demand for gas generators.
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.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
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NOTE: Our team of researchers are studying Covid19 and its
impact on various industry verticals and wherever required we will be
considering covid19 footprints for a better analysis of markets and industries.
Cordially get in touch for more details.
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