Gas Generator Sets Market to Hit $9 Billion by 2025: Global Market Insights, Inc.
North America's gas generator sets market is expected to register more than a 6 percent CAGR by 2025, owing to the abundant availability of natural gas, which is favored by expanding LNG infrastructure and shale gas.
SELBYVILLE, Del., April 9, 2019 /PRNewswire/ -- The U.S. gas generator sets market is set to exceed USD $9 billion by 2025. The adoption of these gensets is gaining robust prominence, as the shale revolution in the country has opened vast growth avenues for natural, gas-fired power generation. Increased natural gas availability from shale, which roughly produces half the CO2 of coal for the same heat output, is enabling the transition toward gas-fired power generation and is, consequently, accelerating the deployment of these units.
The global Gas Generator Sets Market is set to cross USD $9 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Increasing the implications for energy security, the growing concerns over greenhouse gas emissions, along with the rising stringency of government regulations, will boost the global gas generator sets market growth. For instance, the U.S. EPA sets federal minimum emissions standards for generators with the objective to minimize the amount of pollutants emitted into the air. The ability of these gensets to emit relatively lower pollutants (carbon, NOx, particulate matter) will allow these units to occupy a sizeable share of diesel's market share while limiting renewable penetration to a certain extent over the coming years.
The U.K. market will witness remarkable growth, driven by rigorous environmental and emission compliances, including the introduction of the EU Stage V limits. Accelerating the shift of industries toward cleaner power sources, including gas and dual fuel configurations, will further play an influential role in the industry landscape. The demand for these units from novel applications, including grid support for renewables, is another evolving factor strengthening the market's development.
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Industrial gas gensets' market size will witness robust growth on account of intensifying regulatory pressure to enhance environmental performance and sustainability across diverse production facilities. The relative stability and competitiveness of natural gas prices, alongside their lower-emission combustion, will further accelerate the adoption of these units as an affordable and effective means to comply with emissions regulations with the security of supply. These gensets are poised to occupy a sizeable share of diesel's industry share while restraining renewable penetration to an extent over the coming years.
Browse key industry insights spread across 348 pages with 612 market data tables and 31 figures and charts from the report, such as, "Global Gas Generator Sets Market By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By End-Use (Residential, Commercial, Industrial), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis (U.S., Canada, Russia, U.K., Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, Indonesia, South Korea, Saudi Arabia, UAE, Qatar, Turkey, Iran, Oman, Egypt, Nigeria, Algeria, South Africa, Angola, Kenya, Mozambique, Brazil, Mexico, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share and Forecast, 2019–2025," in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/gas-generator-sets-market
The standby gas generator sets market is set to exhibit an appreciable growth, driven by the progressive innovation of low-emission gas engines. Modifications in gas engines' ability to conform with code-driven start times and load acceptance standards will drive the industry growth. The reconfiguration of gas engines for standby applications has dramatically stimulated the deployment of these gensets for electric power security majorly across commercial and industrial facilities.
The Middle East gas generator sets market is set to witness appreciable momentum, on account of its ongoing expansion in regional infrastructure and its growing focus toward economic diversification. Upcoming megaprojects, most notably the Dubai World Expo 2020 and Qatar FIFA World Cup 2022, will necessitate the heavy deployment of these gensets to support the backup and prime power needs. Additionally, countries, including Saudi Arabia and the UAE, are striving toward diversifying their oil-based economy with ventures into other industries, which will further impact the industry's growth.
Notable industry participants operating in the global gas generator sets market include Wärtsilä, Generac, Kohler SDMO, Cummins, Stemac, Briggs & Stratton, Mahindra Powerol, FG Wilson, Himoinsa, Caterpillar, Cooper Corporation, MTU, and Clarke Energy, among others.
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Browse Related Reports:
Generator Sets Market By Current (DC, AC {Single Phase, Poly Phase}), By Fuel (Gasoline, Diesel, Gas), By Power Rating (<50 kVA, 50-300 kVA, 300-1000 kVA, >1000 kVA), By Application (Backup, Prime Power), By End-Use (Residential, Commercial, Industrial) Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, Indonesia, South Korea, Saudi Arabia, UAE, Iran, Nigeria, Egypt, South Africa, Brazil, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share and Forecast, 2018–2024.
https://www.gminsights.com/industry-analysis/generator-sets-market
Diesel Gensets Market By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By End-Use (Residential, Commercial, Industrial), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share and Forecast, 2019–2025.
https://www.gminsights.com/industry-analysis/diesel-gensets-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider offering syndicated and custom research reports, along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data that is specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries, such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Gas Generator Sets Market 2019-2025
The worldwide Gas Generator Sets Market is set achieve more than 8 percent CAGR from 2019 to 2025, owing to increasingly stringent environmental norms.
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Gas Generator Sets Market size
SOURCE Global Market Insights, Inc.
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