Natural Gas Generator Market Size Worth $10.87 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, Jan. 15, 2020 /PRNewswire/ -- The global natural gas generator market size is projected to reach USD 10.87 Billion by 2025, registering a CAGR of 10.7% over the forecast period, according to a new report by Grand View Research, Inc. growing demand for back-up power coupled with increasing government regulation to reduce the carbon emission caused by diesel generator is likely to strengthen the growth for the natural gas genset market during the forecast period.

Key suggestions from the report:

    --  Low power generator accounted for the largest market share in power
        rating segment with USD 2,321.7 million in 2018. Low power generator are
        very popular for residential and commercial power backup operation. Due
        to growing urbanization, national grids are getting pressurized which is
        resulting in the increased demand supply gap for power which is
        eventually driving the demand for natural gas generator market.
    --  Medium power generator in power rating segment is projected to grow at
        highest CAGR during the forecast period. Increasing demand from emerging
        economies such as China, India and Brazil for back -up power system
        which uses clean fuel, for commercial and industrial application are a
        major driver for medium power generators.
    --  For application segment, commercial segment accounted for the largest
        market share in 2018 and is projected to grow at highest CAGR during the
        forecast period Developing economies in Asia Pacific have witnessed
        strong growth in commercial sectors. IT, telecom, and retail are some of
        the major sectors that are growing rapidly in developing countries of
        Asia Pacific, resulting in a high demand for natural gas generators as
        natural gas generator are crucial for back-up power in these facilities.
    --  North America accounted for the largest market share in 2018. The
        abundance of natural gas in the U.S. coupled with developed
        infrastructure for transportation of natural gas within the country has
        played a vital role in driving the demand for gas generator sets in the
    --  Asia Pacific market is forecasted to witness highest growth during the
        forecast period and is projected to be valued at USD 2.84 billion by
        2025. High growth of industrial sector in China, India, Japan, and South
        Korea has triggered the demand for industrial generator sets in the
    --  The establishment of heavy equipment, oil & gas, and process companies
        in China owing to low labor and utility costs has been one of the
        factors responsible for the growing penetration of gas generator set in
        the region.
    --  Some of the significant industry participants include Cummins Inc.,
        Caterpillar Inc., Kohler co. Inc., Mitsubishi Heavy Industries, Ltd.,
        MTU Onsite Energy, Generac Power Systems, Inc., Cooper Corp., General
        Electric, Yanmar Co., Ltd, Mahindra Powerol, and others. These players
        have adopted various organic and inorganic growth strategies to expand
        there product portfolio and geographical footprint.

Read 95 page research report with ToC on "Natural Gas Generator Market Share & Trends Analysis Report By Rating (Low Rating, Medium Rating, High Rating), By Application (Industrial, Residential, Commercial), And Segment Forecasts, 2019 - 2025'' at:

The global electricity demand is anticipated to witness an increase of nearly two-thirds the current demand over the forecast period. The current availability of natural gas in large quantities and its relatively lower prices, especially in regions such as North America and Europe, have led to an increase in power generation using natural gas.

Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel generators are the factors anticipated to increase the share of natural gas generator set in the coming years.

Conventional generators such as diesel generator emit harmful gases including nitrogen oxide, hydrocarbons, and carbon monoxide due to the combustion of diesel. Due to this, different regulatory bodies have imposed stringent regulations that pose a barrier to the usage of diesel generators. This, in turn, has resulted in the growth of eco-friendly alternatives of diesel generators such as natural gas generator.

Emerging economies in Asia Pacific region such as India, China, Japan and others have witnessed a strong growth in commercial sectors. IT, telecom and retail sector, resulting in the growth of demand for natural generators over diesel generator for back-up power application owing to the increasing stringent government regulation to curb greenhouse gas emission caused by diesel generator.

Grand View Research has segmented the global natural gas generator market based on power rating, application, and region:

    --  Natural Gas Generator Market Power Rating Outlook (Revenue, USD Million,
        2014 - 2025)
        --  Low Power Generator
        --  Medium Power Generator
        --  High Power Generator
    --  Natural Gas Generator Market Application Outlook (Revenue, USD Million,
        2014 - 2025)
        --  Industrial
        --  Commercial
        --  Residential
    --  Natural Gas Generator Market Regional Outlook (Revenue, USD Million,
        2014 - 2025)
        --  North America
            --  U.S.
            --  Canada
            --  Mexico
        --  Europe
            --  Russia
            --  Germany
            --  U.K.
            --  France
        --  Asia Pacific
            --  China
            --  India
            --  Japan
            --  South Korea
        --  Central & South America
            --  Brazil
            --  Argentina
        --  Middle East and Africa
            --  UAE
            --  Saudi Arabia

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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