The global natural gas generator market size is anticipated to reach around US$ 8,000 Mn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027.
Natural gas generators are commonly used to produce electricity using natural fuels. The air fuel mixture was put into the combustion chamber, where a mixture is compressed by a pump, by internal combustion engines. The mixture of air fuel is inflamed by a spark plug. The natural gas is useful materials for the world and is usable via gas pipelines or cylinders for individuals. For manufacturing and domestic energy storage, natural gas power plants are used. Operational costs are higher for natural gas generators than for other generators like diesel generators. Non-renewable energy options for power generation include natural gases which are one of the most inexpensive and efficient.
In perspective of increasing environmental concerns among consumers, the market for natural gas generators is expected to thrive. Regulation around the country also encourages the use of renewable technologies such as a gas turbine for customers. Moreover, the development of the global demand in natural gas generators is increasing in various sectors such as oil & gas, telecoms and others. Enhanced construction of infrastructure in the developing markets due to increased urbanization promotes the use of natural gas production systems for energy production, which in turn are expected to stimulate the growth of the global gas producer sector in the near future.
The impact of pollution mitigates natural gas that is likely to contribute greatly to the improvement of sustainable energy goals. According to IEA (International Energy Agency), in 2018, the demand for natural gas was grew by around 4.6%, which is the highest since last decade. Natural gas generators are commonly used to meet rising demand for electricity in various applications. Increased gas production and the recent oil and gas revolution have largely powered the market growth. The combustion of natural gas not only aims to reduce emission rates in a larger manner than other fossil fuels. The increased concerns on GHG pollution and clear strategies that promote the competitiveness of the sector. In addition, increased investment in infrastructure pipelines for accessible fuel transport would support business production.
The market research study on “Natural Gas Generator Market (By Phase: Single phase, 3 Phase; By RPM: 1800 rpm, 2300-2900 rpm, 3600 rpm; By Material: Aluminum, Composite, Steel; By Application: Commercial Building, Residential Building, Industrial Building) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global natural gas generator market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global natural gas generator market are phase, material, application, and major geographic regions. The natural gas generator market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
In the forecast period Asia Pacific is projected to represent the leading market share for natural gas generators. Increased use of renewable power combined with growing numbers of companies in the area was due to development in the area. The government could also support the development of the demand in the Asia Pacific gas power generation by embracing renewable energy sources and a rapid pace of urbanization. The predominant market of the world is China and India. The prediction period, i.e. 2020-2027, will see substantial development in North America. The tight government regulation to reduce environmental pollution can be attributed to this reason. In 2018, the EIA stated that 45% of the operational electricity generation capacity in the U.S. accounted for natural gas generators. The increase in the production of natural gas is largely a function of natural gas's cost-competence with coal. Europe strives actively to mitigate global warming's grave threat. The European Union was establishing renewable energy technology support policies. Many coal-fired electricity power stations have collapsed due to the rise in demand for natural gas in Europe, which has been increased in the UK, France and Germany.
Major players included in this report Cummins Inc., Atlas Copco, Kohler-SDMO, Caterpillar Inc., Ingersoll Rand, Himoinsa, American Honda Motor Company, Inc, Inmesol S.L.U, Kirloskar Electric Co. Ltd, Generac Power Systems, Aggreko, John Deere, FG Wilson, Briggs & Stratton, PRAMAC and others.
The global natural gas generator market is segmented as below:
Natural Gas Generator Market By Phase
Natural Gas Generator Market By RPM
Natural Gas Generator Market By Material
Natural Gas Generator Market By Application
Natural Gas Generator Market By Geography
Middle East & Africa
Natural gas generators are commonly used to produce electricity using natural fuels. The air fuel mixture was put into the combustion chamber, where a mixture is compressed by a pump, by internal combustion engines.
High fuel costs and face the risk of price volatility is a major factor expected to restraint the growth of the market.
Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel generators are the major drivers for the growth of the natural gas generator market.
The market value of natural gas generator is anticipated to be worth around US$ 8,000 Mn in 2027.
The natural gas generator market is anticipated to grow around 6% CAGR amid the forecast period 2020-2027.
North America held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.