Global 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 Gas Generator Market Size 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.
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.
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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.
Gas Generator 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.
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