The global gas genset market is expected to grow at 5.00 % CAGR during the forecast period. The gas gensets are environment friendly and produces lower carbon, sulfur, and nitrogen emissions. Gas genset consists of a gas engine and generator. The engine converts the chemical energy of a fuel to mechanical energy and this mechanical energy is used to spin the alternator rotor, thereby converting the mechanical energy to electrical energy. The alternator consists of two parts i.e. a rotor and stator. The various fuel includes natural gas, biogas, and others. The other components of genset are fuel day tank, basecamp, cooling system, and an enclosure, if needed. Gensets provide energy mostly in geographical areas which are not connected to power grid and in areas with frequent power outages. So, gensets can be used either as a main source of energy or as a supplementary source of power.
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Market Segmentation
Global gas genset market has been segmented based on fuel, power rating, application, end-user, and region.
Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.
The global gas genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and Above 1000 KVA. Based on application, the global gas genset market is segmented into standby, peak shaving, and continuous. Standby segment led the global gas genset market in 2017.
The global gas genset market is segmented by end-user into industrial, residential, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period.
Based on region, the global gas genset market cover growth opportunities and latest trends across North America, South America, Europe, Asia Pacific and the Middle East and Africa.
Regional Outlook
North America held the largest market share of the global gas genset market in 2017 owing to huge availability of natural gas in the region. The global gas genset market in North America is dominated by US owing to growth of natural gas and decline in natural gas prices in the US. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising natural gas production in the region. Asia-Pacific also offers promising business opportunities in the gas genset market owing to rising natural gas production in Southeast Asian countries in the region.
Key Players
The key players of the global gas genset market are Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power. among others.
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Gas Genset Market Share, By Product, 2017 (%)
Figure 9 Global Gas Genset Market, By Product, 2018-2023 (USD Million)
Figure 10 Global Gas Genset Market Share, By Application, 2017 (%)
Figure 11 Global Gas Genset Market, By Application, 2018-2023 (USD Million)
Figure 12 Global Gas Genset Market Share (%), By Region, 2017
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