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% during the forecast period.

Technavio has announced its latest market research report titled Gas Generator Market by End-user and Geography – Forecast and Analysis 2022-2026

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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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Gas Generator Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 7.07%

Market growth 2022-2026

USD 3.61 billion

Market structure

Fragmented

YoY growth (%)

6.01

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 26%

Key consumer countries

US, Canada, Iran, China, and Russia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aggreko Plc, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Champion Power Equipment Inc., Chroma Power Systems India Pvt. Ltd., Cooper Corp. Pvt. Ltd., Cummins Inc., Endress Elektrogeratebau GmbH, Generac Power Systems Inc., Himalayan Power Machines Mfg Co., Kohler Co., DIMAX International GmbH, Mahindra and Mahindra Ltd., R Schmitt Enertec GmbH, Rolls-Royce Holdings Plc, Teksan Generator Power Industries and Trade Co. Inc., and Yanmar Holdings Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

Cision

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