Innovations in Gas Genset Technology to Drive Market Expansion

 Gas Genset Market Overview:

Gas Genset Market is expected to grow at 5.00 % CAGR during the forecast period 2022-2030. 

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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Market Scope

The global gas genset market is expected to grow at ~ 5.00 % CAGR during the forecast period. 

This report provides an in-depth analysis of the global gas genset market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, the Middle East & Africa, South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the gas genset market by its fuel, power rating, application, end-user, and region.   

Segmentation

The global gas genset market has been segmented based on fuel, power rating, application, and end-user.

• 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.
• By end-user, it is segmented into residential, industrial, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period.

Regional Analysis

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.  

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Competitive Outlook

GE, Wartsila, Caterpillar, MTU Onsite Energy GmbH, Himoinsa, Sudhir Power, Genrac Power Systems, PARAMAC, Siemens AG, ABB, and Cummins are key players of the global gas genset market.