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As per an in-depth report published by Global Market Insights, Inc., global gas generator sets market size is likely to surpass USD 9 billion by 2025.Depleting fossil fuel resources has encouraged the usage of alternative energy sources in generators, driven by which global gas generator sets market is accumulating significant proceeds. Even though the usage of diesel generators has been the norm for decades, the generators industry has shifted gears towards gas-fueled generation lately. Superior environmental credentials associated with gas generator sets has encouraged its widespread usage in various end use verticals.
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In view of growing visibility regarding the limitations of diesel generators, the use of such generators has been limited by emission regulations. Concerned authorities across the globe have laid down stringent regulatory framework pertaining to harmful emission control and environmental protection. To realize the objective of decarbonization, federal agencies worldwide are encouraging the use of gas generator sets.
Global Gas Generator Sets Market Report Coverage:
• Base Year: 2018
• Historical Data for: 2014 to 2018
• Forecast Period:2019 to 2025
• Pages: 348
• Tables, Charts & Figures:640
Natural gas has been garnering much accolades across a multitude of industrial applications and so is the case with generators. Characterized by relatively minimized emission levels, lower price index, and high sustainability quotient, natural gas generator sets have witnessed widespread deployment in various applications. These generator sets make up for a viable option to ensure compliance with stringent directives regulatory directives. Moreover, the advantage of reliability associated with natural gas has advocated their viability as an alternative to diesel generators.
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In this regard, the US shale gas revolution has been a key enabler of gas generator sets market growth. Increased availability of shale gas in abundance ever since its discovery almost a decade back is catalyzing the transition towards gas-fired powered generation. Moreover, the development of hydraulic fracturing technology has purveyed access to huge reserves of shale gas, thus supporting penetration of various gas-fueled equipment, including gas generator sets. Additionally, the US EPA has set minimum emission standards for generators, which is impelling gas generator sets market trends in the country. The US gas generator sets market size is likely to touch USD 1.7 billion by 2025.
Besides US, the Middle East is another significant revenue pocket in gas generator sets market. The region is making noteworthy strides towards infrastructure development and economic diversification. Major countries in the belt such as UAE and Saudi Arabia are foraying into segments other than oil production to attain sustainability and provide a boost to their economic structure. In view of such prevailing trends, it is anticipated that gas generator sets business volume will gain substantial impetus through large-scale product deployment in upcoming mega events in the region, such as the Qatar FIFA World Cup 2022 and Dubai World Expo 2020.
Furthermore, given Europe's attempts to achieve environmental sustainability, gas generator sets market is anticipated to garner sufficient gains from the region. The UK is likely to be a pivotal growth ground within Europe market. The regional growth is mainly driven by the introduction of EU Stage V limits, which is acting as the push for industries to shift towards lower emission power sources such as gas generator sets.
Deployment in industrial applications account for a sizeable chunk of gas generator sets market. Intense regulatory pressure on industrial units to curtail harmful emissions is fueling product penetration. Moreover, industrial operations require reliable power supply for the continuity of processes, which make gas generator sets fit for deployment.
Companies covered (14):
• Wartsila
• MTU
• Caterpillar
• Briggs & Stratton
• Kohler SDMO
• Mahindra Powerol
• Clarke Energy
• Stemac
• Himoinsa Cooper Corporation
• Cummins
• Generac
• FG Wilson
• and others.
Frequently Asked Questions (FAQ) :
What are the revenue projections for gas generator sets market?
• According to Global Market Insights Inc., global market for gas generator sets is set to exceed USD 9 billion by 2025.
What are the key growth drivers for Gas Generator Sets industry?
• Ongoing shale gas revolution
• Increasing intensity & frequency of weather-related disasters
• Escalating data center outage costs
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/gas-generator-sets-market
Release ID: 88928960
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