Natural Gas Generator Market: Industry Development Scenario and Forecast to 2024

The global natural gas generator market is segmented into material such as aluminum, composite and steel. Among these segments, aluminum segment is expected to dominate the overall natural gas generator market and is anticipated to capture a noteworthy CAGR of 8.7% by 2024. Further, the aluminum natural gas generator market is expected to observe a growth rate of 1.7x over the forecast period.

In terms of regional platform, Asia Pacific is slated to account for a leading share of 39.9% by 2024 in the natural gas generator market. The growth in the region can be attributed to increasing utilization of clean energy coupled with rising number of industries in the region. Besides, encouragement by the government to adopt clean energy sources and rapid pacein urbanization is also expected to impel the growth of natural gas generator market in the Asia Pacific. China and India are the prominent market in the region. China natural gas generator Market was held at a valuation of USD 391.1Million in 2016. Further, economic growth of various industry verticals in the country is expected to swell the demand for Natural Gas Generator during the forecast period.

Global natural gas generator market reached USD 4,600.3 Million in 2016 and is anticipated to register a CAGR of 8.1% during the forecast period. Moreover, the market is anticipated to reach USD 8,511.1 Million by the end of 2024.Further, inclination of people toward clean energy equipment and government regulation to curb the pollution is expected to escalate the growth of the natural gas generator market.

Environmental concerns

In the areas of limited source of power, generators are vastly utilized. However, generators such as diesel generators possess a serious threat to the environment if operated for a long period of time. In contrast, alternative generators such as natural gas generators are becoming mor epopular on the account of their sustainability and low carbon emission advantage. Moreover, increasing adoption of these generators various industries has been witnessed in recent years. These factors are anticipated to strengthen the growth of the market.

Government Regulations and Legislations

To reduce the emission of harmful pollutants to the environment, various emission standards and regulations has been established by several countries such as U.S., China, Japan, India and others. This factor is envisioned to strengthen the global natural gas generator market.

In contrast with, the availability of alternative technologies such as power packs, diesel generators and others is expected to limit the growth of the global natural gas generator market. Further, the technological advancement associated with power packs such as high energy storage and output is anticipated to negatively impact the growth of the global natural gas generator.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global natural gas generator market which includes company profiling of Cummins, Briggs & Stratton Corporation, Generac Holdings, Inc., Kirloskar Oil Engines Ltd., Himoinsa, Kohler Co., Doosan Corporation, Multiquip Inc., Wärtsilä Corporation, and Caterpillar. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global natural gas generator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.