Global Distributed Natural Gas Fueled Generation Market Size 2024, Forecast To 2033

The distributed natural gas-fueled generation market has witnessed rapid growth, surging from $30.15 billion in 2023 to $33.35 billion in 2024, demonstrating a notable compound annual growth rate (CAGR) of 10.6% during the historic period. This growth is attributed to concerns related to energy security, the economic viability of distributed generation, the emphasis on grid resilience and reliability, efforts towards achieving energy independence, and environmental considerations. Looking into the future, the market is expected to experience rapid growth, projecting a size of $50.6 billion in 2028 at a CAGR of 11.0%. Anticipated drivers for this growth include the integration of renewable natural gas, initiatives for grid decentralization, the integration of energy storage, government incentives and policies, and a focus on resilience planning. Key trends in the forecast period encompass technological innovations in microgrids, advancements in gas turbine technology, overall technology advancements, the integration of renewables, and a continued emphasis on environmental considerations.