Natural Gas Generator Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
30 Jun, 2023
The global natural gas generator market size is expected to grow from $6.93 billion in 2022 to $7.56 billion in 2023 at a compound annual growth rate (CAGR) of 9.04%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global natural gas generator market size is expected to reach $10.46 billion in 2027 at a CAGR of 9.52%.
Global Natural Gas Generator Market Key Driver
Surging demand for power from various end-use industries will contribute significantly to the natural gas generator industry in the future. Electricity is a sort of energy that powers motors and devices that produce light or heat. Because of its cost-effectiveness and environmental friendliness, natural gas generators are utilised to supply energy to a variety of end-use sectors.
Get a sample of the global natural gas generator market reportGlobal Natural Gas Generator Market Segments
The global natural gas generator market is segmented:
1) By Type: Standby, Prime
2) By Power Rating: Low Power Genset, Medium Power Genset, High Power Genset
3) By Phase: Single Phase, 3 Phase
4) By Material: Aluminum, Composite, Steel
5) By End User: Industrial, Commercial, Residential
6) By Geography: The regions covered in the natural gas generator market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global natural gas generator market.
Major Natural Gas Generator Industry Players
Caterpillar Inc., Generac Power System, Cummins Inc., General Electric, Kohler Co. Inc., Mahindra Powerol, MTU-onsite Energy GMBH, Yanmar Co. Ltd., Coopercorp Generators, Mitsubishi Heavy Industries Ltd., Aggreko Plc., APR Energy Inc., Jinan Diesel Engine Co.Ltd. (JDEC), Shandong Naipute Gas Power Co.Ltd., Zibo Diesel Engine Parent Company, Himonsa S.L.
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Natural Gas Generator Market Overview
Natural gas generator refers to a type of generator that runs on natural gas rather than petrol or diesel. A mixture of fuel and air is inserted into a combustion chamber to create electricity in a natural gas generator.
Natural Gas Generator Global Market Report 2023 provides data on the global natural gas generator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The natural gas generator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.