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Global Natural Gas Generator Market Analysis & Opportunity Outlook 2024

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Extensive insights into the Growth of Natural Gas Generator Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Natural Gas Generator Market Overview

Natural gas generators are widely used generators which use natural gases for electricity generation. Internal combustion engines are used to introduce the air fuel mixture in the combustion chamber where mixture gets compressed by a piston. A spark plug is used to ignite the air fuel mixture. Natural gases are precious earth materials and are available to people through gas pipelines or cylinders. Natural gas generators are used in industries as well as in residence for electricity generation. In terms of operation cost, natural gas generators are more expansive as compared to other generators such as diesel generator. Natural gases are one of the most affordable and successful non-renewable energy resources used for power generation.

Market Size and Forecast

The global natural gas generator market reached USD 4,600.3 Million in 2016 by registering a CAGR of 8.1% across the globe. Moreover, the market is anticipated to reach USD 8,511.1 Million by the end of 2024. Global installed capacity in natural gas generators are estimated to grow from 12.9 GW in 2015 to 26.3 GW by 2024 end. Further, the market of global natural gas generator is anticipated to achieve a Y-o-Y growth rate of 8.5% in 2024 as compared to the previous year. Moreover, growth and expansion of the industrial sector is propelling the demand for natural gas generator which is likely to escalate the growth of natural gas market all across the globe.

In the regional platform, Asia Pacific is slated to account for a leading share of 39.9% by 2024 in the natural gas generator market. The growth in the region can be attributed to increasing utilization of clean energy coupled with rising number of industries in the region. Besides, encouragement by the government to adopt clean energy sources and rapid pace in urbanization is also expected to impel the growth of natural gas generator market in the Asia Pacific. China and India are the prominent market in the region. Additionally, Europe market is expected to expand at a significant CAGR during the forecast period i.e. 2017-2024.Growing infrastructure development is likely to be the key factor behind the growth of natural gas generator in the Europe region. Additionally, infrastructure development and industrialization is projected to accelerate in the next few years. This factor is expected to fuel the growth of Europe natural gas generator market during the forecast period. U.K. & Germany are expected to contribute significantly in the growth of natural gas generator market during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Market Segmentation

Our-in depth analysis of the global natural gas generator market includes the following segments:

By Phase

  • Single Phase
  • 3 phase

By RPM (revolution per minute)

  • 1800 rpm
  • 2300-2900 rpm
  • 3600 rpm

By Material

  • Aluminum
  • Composite
  • Steel

By Application

  • Commercial building
  • Residential building
  • Industrial building

By Region

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Global Natural Gas Generator Market

Growth Drivers and Challenges

In the areas of unreliable source of power, generators are widely utilized. However, many generators such as diesel generators possess a serious threat to the environment if operated for a long period of time. On the other hand, alternative generators including natural gas generators are becoming more popular owing to their sustainability and low carbon emission. Moreover, increasing adoption of these generators by government and several industries has been witnessed in recent years. To reduce the emission of harmful pollutants to the environment, various emission standards and regulations has been established by several countries such as U.S., China, Japan, India and others. This factor is envisioned to strengthen the global natural gas generator market. However, scarcity of natural gas infrastructure in developing countries is the major restrains of the global natural gas generator market. Further, the availability of alternative technologies such as power packs, diesel generators and others is expected to limit the growth of the global natural gas generator market. Further, the technological advancement associated with power packs such as high energy storage and output is anticipated to negatively impact the growth of the global natural gas generator.

Key Players

  • Caterpillar
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Cummins
  • Briggs & Stratton Corporation
  • Generac Holdings, Inc.
  • Kirloskar Oil Engines Ltd.
  • Himoinsa
  • Kohler Co.
  • Doosan Corporation
  • Multiquip Inc.
  • Wärtsilä Corporation
  • Other Key Players

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