Gas Generator Sets Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Gas Generator Sets Market grew at a CAGR of 6.1% between 2017-2021 and is estimated to be US$ 7,305.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.0% and is expected to reach a valuation of US$ 14,371.2Mn by 2032 end.
The growth of the manufacturing industry has increased the requirement for a 1000 kW natural gas generator since the antiquated transmission and distribution infrastructure cannot meet the demand for a consistent and reliable power supply in the manufacturing industry. As a result, the Asia Pacific region’s growing need for natural gas generators is driving the market for gas generator sets ahead.
ChemView Consulting has analyzed that manufacturing has greatly aided various Asian Pacific nations’ economic progress. Additionally, many Asian governments have signed extra-regional trade agreements to position themselves as major industrial hubs. According to the ASEAN Economic Community (AEC), if implemented effectively, the Regional Comprehensive Economic Partnership (RCEP) would be a step toward a larger Asia Pacific Free Trade Area (FTAAP).
Due to their rising demand from small-scale companies, restaurants, and cafés, as well as the residential and commercial sectors, gas generator sets with a power rating of > 50 kVA – 125 kVA are expected to grow at a CAGR of more than 7.5% during the projection period. Due to their affordable prices and high demand, these generator sets experience significant sales. They aid in providing power backup during blackouts and power connections to remote locations with poor access to electricity.
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Segments Covered in Report
By Power Rating:
- ≤ 50 kVA
- > 50 kVA – 125 kVA
- > 125 kVA – 200 kVA
- > 200 kVA – 330 kVA
- > 330 kVA – 750 kVA
- > 750 kVA
By End-User:
- Residential
- Commercial
- Industrial
By Application:
- Standby
- Peak Shaving
- Prime/Continuous
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Gas Generator Sets Market
- Based on the power rating, due to their rising demand from small-scale companies, restaurants, and cafés, as well as the residential and commercial sectors, gas generator sets with a power rating of > 50 kVA – 125 kVA are expected to grow at a CAGR of more than 7.5% during the projection period. Due to their affordable prices and high demand, these generator sets experience significant sales. They aid in providing power backup during blackouts and power connections to remote locations with poor access to electricity
- Based on the region, the Asia Pacific Region held more than 42.0% of the market. The expansion and development of manufacturing facilities for various industries, the wide distribution of commercial offices and technology parks, the rising demand and supply gap, and the increasing number of infrastructure development projects are all major contributors to the market growth in this area.
Competition Summary
Key companies covered in the market study are Cummins, Briggs & Stratton Corporation, Kohler, Generac Power Systems, Caterpillar, Rolls-Royce, HIMOINSA, Mahindra Powerol, Genmac, Aggreko, Eaton, Champion Power Equipment, DuroMax Power Equipment, FIRMAN Power Equipment, Westinghouse Electric Corporation
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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