Jan 25, 2019   SOURCE: BusinessWire

The Gas Genset Market in North America, 2019-2024 - Projected to Exceed 5% CAGR - ResearchAndMarkets.com

The "North America Gas Genset Market (2019-2024): Market Forecast by KVA Ratings, by Applications, by Countries, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

According to this research, the North America Gas Genset market is projected to grow at a CAGR of 5.4% during 2018-2024.

Growing electricity demand with rising population, industrialization, the low operational cost of gas gensets as well as growing demand for clean and reliable power supply and expansion of gas pipeline infrastructure in the United States, Canada and Mexico would drive the growth of gas genset market in the North America region.

Moreover, high power losses in many North American countries due to the increasing frequency of grid failures on account of inability to sustain amplified demand load and high susceptibility to extreme weather conditions would also augment the growth of gas genset market in the region.

Additionally, upcoming projects such as Google Data Centre, Mountain Valley Pipeline Project and Eagle Ford Shale would further drive the demand for gas gensets in the region.

The United States captured the majority of the revenue share in the North America gas genset market followed by Canada, on account of rapid deployment of prime power gas gensets in industrial and power generation sector, while the residential and commercial sector would drive the growth of standby gas gensets.

Further, increasing adoption of environment-friendly solutions, the rise in green manufacturing practices of industries and increasing disposable income of the population are some of the key factors driving the growth of gas genset market in the region.

Markets Covered

By KVA Ratings

  • Up to 100 KVA
  • 100.1-375 KVA
  • 375.1-1000 KVA
  • Above 1000 KVA

By Applications

  • Standby
  • Prime

By Verticals

  • Residential
  • Industrial
  • Commercial
  • Power & Energy
  • Others

By Countries

  • United States
  • Canada
  • Rest of North America

Companies Featured

  • Briggs & Stratton Corporation
  • Caterpillar
  • Cummins
  • GE Power
  • Generac Power Systems
  • Himoinsa Power Systems
  • Kohler Power Systems
  • MTU Onsite Energy Corporation
  • Siemens
  • Wartsila Corporation

For more information about this report visit https://www.researchandmarkets.com/research/bfss67/the_gas_genset?w=4