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 sudden challenges created by the ongoing COVID-19 are captured
effectively to exhibit the long term growth projections in the MRFR report on Gas
Generator Market. The growth sectors of the Gas Generator Market are identified
with precision for a better growth perspective.
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 Share 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),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
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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