The embryonic gas generator market is growing steadily. The augmenting demand for power led by the ever-increasing population and rapid urbanization & industrialization, worldwide drives the growth of the market. Moreover, the demand for reliable power supply across the end-users is boosting the increase in the gas generator market, globally.
A significant shift towards gas generators due to the increased usages in the rental power is a prevailing trend propelling the growth in the market. Additionally, stringent regulations against CO2 emissions that affect internal combustion engines are augmenting the demand for the gas generators. The increasing number of healthcare infrastructures, rising demand for data centers & IT facilities are driving the global gas generator market.
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Rising demand for energy led by the frequent outages and the natural calamities that can interrupt routine operation across industries foster the growth of the market. Additionally, the growing demand for cost-effective and reliable power supply escalates the market on the global platform.
Gas Generator Industry Segmentations
For a better scope of understanding, the report has been segmented into three key dynamics:
By Power Capacity : > 300 kW, 301 kW-1 MW, and < 1 MW
By End-users : Residential, Commercial & Industrial, and Utility
By Regions : Asia Pacific, Europe, North America, and the Rest-of-the-World.
Global Gas Generator Market – Competitive Landscape
Highly competitive, the gas generator market appears to be fragmented due to the presence of many large & small-scale players. These players incorporate strategic initiatives such as collaboration, technology/product launch, acquisition, partnership, and expansion.
Similarly, promotions through trade exhibitions and greater commercialization of products are some of the other key strategies that these players adopt. Committed to delivering reliable, leading-edge products and comprehensive after-sales support, manufacturers strive to develop their portfolio with a range of high-quality generators of different capacities.
Players leading the global gas generator market include Siemens Ltd. (Germany), APR Energy (USA), General Electric Company (USA), Toshiba Corporation (Japan), Aggreko plc (UK), Hyundai Heavy Industries Co., Ltd. (South Korea), Hyosung Corporation (South Korea), Mitsubishi Electric Corporation (Japan), Bharat Heavy Electricals Limited (India), and Perkins Engines Company Limited (UK) among others.
The gas generator market in the North American region has emerged as another lucrative market, globally. Stringent regulations against CO2 emissions and air & sound population are some of the key driving forces of the regional market. Rising production of natural gas and shale gas in the region and aging grid infrastructure and natural calamities that cause frequent power outages substantiate the growth of the regional market.
The Asia Pacific region would retain its dominance over the global gas generator market throughout the forecast period due to the ample availability of natural gas. Favorable government regulations against greenhouse gas emissions alongside, the rising natural gas production in the region impact the growth of the regional market, positively.
Moreover, the burgeoning manufacturing sectors, along with the frequent outages of electricity, are expected to support the regional market to demonstrate colossal growth prospects during the review period. India and China majorly contribute to the gas generator market in the region owing to the rapid industrial development and commercial activities.
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