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  • Global Gas Generator Sets Market Report | 2028

    Global Gas Generator Sets Market Report | 2028

    Global Gas Generator Sets Market Report | 2028
    Report code - SRCE298 Delivery - 2 Weeks
    Gas Generator Sets Market Size, Share, Growth, Forecast, & Industry Analysis: 2022-202 See more...

    Market Insights

    The global Gas Generator Sets Market was estimated at USD 8.85 Billion in 2021 and is likely to grow at a CAGR of 7.56% from 2022-2028 to reach USD 14.79 Billion in 2028.

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    What are Gas Generator Sets?

    A gas generator set consists of a gas engine and a generator, which produces mechanical energy by the conversion of chemical energy, and finally converts it into electrical energy.

    Gas Generator Sets Market Features

    Market Size in 2028

    USD 14.79 billion

    Market Size in 2022

    USD 8.85 billion

    Market Growth (2022-2028)

    7.56% CAGR

    Base Year of Study

    2021

    Trend Period

    2017-2020

    Forecast Period

    2022-2028

    Segments Covered

    By Power Rating Type (<75 kVA, 75-375 kVA, 375-750 kVA, and >750 kVA),

    By End-User Type (Residential, Commercial, and Industrial),

    By Application Type (Standby, Peak Shaving, and Prime/Continuous),

     By Region (North America, Europe, Asia-Pacific, and Rest of the World)

    Top Companies in 2022

    • Briggs & Stratton
    • Caterpillar
    • Cooper Corp.
    • Cummins Inc.
    • Generac Power Systems, Inc.
    • GENMAC
    • HIMOINSA
    • MAHINDRA POWER
    • Rolls-Royce Power Systems AG
    • SDMO Industries

    Dominant Region

    North American market held more than 13.3% share in 2021.

     

    Drivers

    • This is primarily because of the low operating costs of gas generator sets, increasing natural gas production, the government’s stringency on environmental norms and compliances, along with the growing focus on energy efficiency and cleaner fuel sources.
    • The stability of natural gas prices is expected to further propel the deployment of gas generator sets, in the upcoming years.
    • Generator sets are more suited to be the primary energy source in the geographical regions with regular power outages and as a supplementary power source in the regions that are not connected to the power grids.
    • Due to the high demand in industries and easy configuration of the generator sets, it is expected that there would be a surge in the overall market demand, globally.

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    Key Players

    Some of the key players in the market are-

    • Briggs & Stratton
    • Caterpillar
    • Cooper Corp.
    • Cummins Inc.
    • Generac Power Systems, Inc.
    • GENMAC
    • HIMOINSA
    • MAHINDRA POWER
    • Rolls-Royce Power Systems AG
    • SDMO Industries.

    Segment Analysis

    By Power Rating Type

    The market is segmented into <75 kVA, 75-375 kVA, 375-750 kVA, and >750 kVA. Among this power rating > 330 kVA - 750 kVA gas generator sets CAGR of more than 7.5% during the forecast period, on account of their increasing demand from small-scale industries, restaurants and cafes, and residential and commercial sectors. These generator sets witness large sales due to their low prices and large requirement. They help in offering power backup during power outages and power connections across rural areas, with limited power access.

    By End-User Type

    The market is segmented into residential, commercial, and industrial. Among these segments, the residential end-user segment is expected to gain the maximum traction in the market over the forecast period. This growth is majorly attributed to the increasing demand for continuous and reliable power supply. Also, during the temporary grid disruptions, there has been a growing dependency on power backup options, which significantly fuels the market growth.

    By Application Type

    The market is segmented into standby, peak shaving, and prime/continuous. Among these application types of Prime power gas generators CAGR of more than 7% during the forecast period. These generators are predominantly used for providing high-load requirements across different industries such as oil & gas, mining, and construction. With the surging infrastructural and industrial development, especially in emerging economies, it is expected that the demand for these generator sets would grow significantly, over the forecast period.

    By Region

    The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. Among these regions, North American market held more than 13.3% share in 2021. The market growth in this region is majorly attributed to the growing number of infrastructure development projects, the increasing gap between demand and supply, the expansion and development of manufacturing facilities of various industries, and many commercial offices and technology parks across the region.

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

    The market is segmented into the following categories. 

    By Power Rating Type:

    • <75 kVA 
    • 75-375 kVA 
    • 375-750 kVA 
    • >750 kVA 

    By End-User Type:

    • Residential 
    • Commercial 
    • Industrial 

    By Application Type:

    • Standby 
    • Peak Shaving 
    • Prime/Continuous 

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report – Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the end-user types by power rating type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    A gas generator set consists of a gas engine and a generator, which produces mechanical energy by the conversion of chemical energy, and finally converts it into electrical energy.

    This is primarily because of the low operating costs of gas generator sets, increasing natural gas production, the governments stringency on environmental norms and compliances, along with the growing focus on energy efficiency and cleaner fuel sources.

    Briggs & Stratton, Caterpillar, Cooper Corp., Cummins Inc., Generac Power Systems, Inc., GENMAC, HIMOINSA, MAHINDRA POWEROL, Rolls-Royce Power Systems AG, SDMO Industries are among the key players in the market.

    The residential end-user segment is expected to gain the maximum traction in the market in the coming five years.

    North America is expected to remain dominant in the market during the forecast period.

    Prime power is expected to generate the maximum market share in the market during forecast period.

    The global Gas Generator Sets Market was estimated at USD 8.85 Billion in 2021 and is likely to reach USD 14.79 Billion in 2028.

    The study period of this market report is 2016-28.