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Gas Generator Market Size (2024 - 2029)

The gas generator market is anticipated to experience growth over the forecast period, driven by factors such as the rising awareness of natural gas as a clean fuel, concerns over diesel maintenance, and decreasing natural gas prices. Despite challenges like limited gas grid connectivity, opportunities are expected to arise in the commercial and industrial sectors of emerging economies, the residential sector of developed economies, and defense operations. North America is projected to hold the largest market share, with significant demand from the United States and Canada.

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Market Size of Gas Generator Industry

Gas Generator Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 4.95 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Gas Generator Market Major Players

*Disclaimer: Major Players sorted in no particular order

Gas Powered Generator Market Analysis

The gas generator market is estimated to be at USD 5.95 Billion by the end of this year and is projected to reach USD 7.57 billion in the next five years, registering a CAGR of over 4.95% during the forecast period.

  • Over the medium term, factors such as increasing awareness regarding natural gas as a clean and reliable fuel, increased concerns over diesel maintenance and refueling issues, and decreasing natural gas fuel prices will likely drive the gas generator market in the forecast period.
  • On the other hand, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a restraining factor to the gas generator market during the forecast period.
  • Nevertheless, the commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants during the forecast period.
  • North America is expected to be the largest market during the forecast period for gas generators, with most of the demand expected to come from the United States and Canada.

Gas Powered Generator Industry Segmentation

A gas generator runs on gas instead of the traditional choices of fuel, such as gasoline or diesel, and produces the required electricity. As one of the most economical and efficient fuels among non-renewable resources for power generation, natural gas can power emergency and portable generators.

The gas generator market is segmented by capacity, end-user, and geography. The market is segmented by capacity into less than 75 kVA, 75-375 kVA, and above 375 kVA. By end user, the market is segmented into industrial, commercial, and residential. The report also covers the market size and forecasts for the gas generator market across the major region. The market sizing and forecasts are based on each segment's revenue (USD).

Power Rating
Less than 75 kVA
75-375 kVA
Above 375 kVA
End-User
Industrial
Commercial
Residential
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle-East and Africa
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Gas Generator Market Size Summary

The gas generator market is poised for growth, driven by the increasing recognition of natural gas as a clean and reliable energy source. This shift is further supported by the declining costs of natural gas and the growing concerns over the maintenance and refueling challenges associated with diesel generators. Despite the potential hindrance posed by limited gas grid connectivity, the market is expected to benefit from opportunities in the commercial and industrial sectors of emerging economies, as well as the residential sector in developed regions. The demand for gas generators is particularly strong in North America, where the United States and Canada are anticipated to lead the market due to their robust natural gas infrastructure and the need for reliable power supply in data centers and residential areas.

In addition to the favorable market conditions, the gas generator industry is experiencing a surge in demand for smaller generators, especially in developing regions like Asia-Pacific and Africa, where power outages are common. The construction boom in countries like India and China, driven by government initiatives such as smart cities and green building projects, is expected to further propel the market. The rising production and consumption of natural gas globally are also contributing to the increased adoption of gas generators. Key players in the market, including Generac Holdings Inc., Caterpillar Inc., and Cummins Inc., are actively investing in new technologies to enhance the performance and sustainability of their products, ensuring they meet the evolving power requirements of various sectors.

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Gas Generator Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Awareness Regarding Natural Gas as a Clean and Reliable Fuel

        2. 1.5.1.2 Increasing Concerns Over Diesel Maintenance and Refueling Issues

      2. 1.5.2 Restraints

        1. 1.5.2.1 Lack of Gas Grid Connectivity Via Pipeline, Resulting in Hindered Fuel Supply

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Power Rating

      1. 2.1.1 Less than 75 kVA

      2. 2.1.2 75-375 kVA

      3. 2.1.3 Above 375 kVA

    2. 2.2 End-User

      1. 2.2.1 Industrial

      2. 2.2.2 Commercial

      3. 2.2.3 Residential

    3. 2.3 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Rest of Middle-East and Africa

Gas Generator Market Size FAQs

The Gas Generator Market is projected to register a CAGR of 4.95% during the forecast period (2024-2029)

Generac Holdings Inc., Caterpillar Inc., General Electric Company, Cummins Inc. and Kohler Co. are the major companies operating in the Gas Generator Market.

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