Gas Generator Market Size to Grow by USD 3.61bn | Increasing Instances of Power Grid Failure to Drive Growth

NEW YORK, April 5, 2022 /PRNewswire/ — The gas generator market size is expected to grow by USD 3.61 bn from 2021 to 2026. The report projects that the market will decelerate at a CAGR of 7.07{5376dfc28cf0a7990a1dde1ec4d231557d3d9e6448247a9e5e61bb9e48b1de73} during the forecast period.

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Gas Generator Market: Driver

The increasing instances of power grid failure are driving the global gas generator industry. India is the third-largest producer and consumer of electricity in the world. It is estimated that the urban population in India will reach 600 million by 2030, according to the National Urban Digital Mission (NUDM). However, the country’s electricity infrastructure is not reliable, with many power cuts every day. Other countries in APAC and MEA, such as Kyrgyzstan, Uzbekistan, Ghana, and Nigeria, have also been facing rampant blackouts for the past decade. Therefore, the growing frequency of power grid failures is projected to enhance market growth during the forecast period.

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Gas Generator Market: Challenge

The availability of diesel generators is challenging the global gas generator market growth. Several initiatives and changes have been implemented to improve the overall efficiency of diesel-powered generators. Engines in diesel generators have been modified with combustion chambers that provide optimal combustion rates, better fuel economy, and lower emissions. Several government regulations on PM levels in the air and extensive R&D by generator vendors have resulted in the development of diesel with comparatively lower sulfur content. These factors will make diesel generators more popular and, in turn, impede the growth of the global gas generator market.

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Gas Generator Market: Segmentation Analysis

By end-user, the market has been segmented into industrial, commercial, and residential. The industrial segment will have significant market share growth during the forecast period. This segment is expected to be more inclined toward the use of gas generators in the coming years owing to the various environmental regulations imposed on the use of diesel in engines and generators. The need for an uninterrupted power supply has become important, with rapid industrialization happening globally, especially in developing countries such as China, Brazil, and India.

By geography, the market has been segmented into Europe, North America, APAC, the Middle East and Africa, and South America. Europe will have significant market share growth during the forecast period. The significant increase in the demand for high-power supply solutions in the automotive and energy industries and the availability of natural gas reserves will drive the gas generator market growth in Europe during the forecast period. Germany, France, and Russia are the key countries in the gas generators market in Europe. Moreover, market growth in this region will be faster than the growth of the market in South America.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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