Gas Generator Market: Current Analysis and Forecast (2021-2027)

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 The global gas generator market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). As the market is anticipated to witness an uptick owing to the demand for generators and power generation systems being fueled by the rapidly increasing manufacturing sector. For instance, In January 2022, ClusterPower, a Romanian cloud service provided three MTU combined and customized cooling, heat, and power plant (CCHP) trigeneration units to Rolls-Royce and its distribution partner Knopf & Wallisch (K&W). Owing to the factors of an eco-friendly, and carbon-free environment and the rapid development across residential, commercial, and industrial segments, are propelling the growth of the gas generator market globally.

In addition, major players such as Caterpillar Inc., Cummins Inc., Kohler Co., Aggreko, Generac Holdings Inc, General Electric, PRAMAC, Powerlink, Himoinsa, Mahindra Powerol. Several M&As along with partnerships have been undertaken by these players to develop the gas generator market.

The gas generator is a device that uses a rocket propellant for generating a large quantity of gas. It is mainly used in the utilization of chemical energy for creating electrical power. There are two types of generators: AC (alternating current) generators and DC (direct current) generators. The way of generating electricity is the same in both types but differs in the application where the process in which loads receive electric power is different. While storing any impractical or undesirable pressurized gas, the gas generator may create some chemical reaction or form a liquid or solid source. It plays a significant role in the reduction of GHG (Greenhouse Gas) emissions as it burns cleaner than other forms of conventional fuels.

However, the COVID-19 pandemic has significantly impacted the market size of the gas generator. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus. The growth of the gas generator market was also affected due to the shutdown of manufacturing activities and the decline in demand for commercial services in 2020. In addition, volatility in the prices of natural gas during the pandemic further aggravated the impact on the market of gas generators.

Insights Presented in the Report

“Amongst power, below 75 kVA category to hold a significant share in the market”

Based on power, the market is fragmented into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA. During the forecast period, below 75kVA is likely to dominate the global gas generator market. As below 75kVA is supported by various industries such as telecom, retail, small restaurants, and many residential and commercial buildings as they are easily portable and affordable.

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“Amongst application, standby to hold a significant share in the market”

Based on application, the market is fragmented into standby, peak shaving, and prime/continuous. The standby segment is expected to cater to extensive demand in the gas generator market during the forecast period. Due to the rising government electrification programs and vigorous development of data centers. In addition, the growing telecommunication sector is accompanied by an enhanced deployment of gas generator sets which provide continuous power requirements in the telecom infrastructure.

For instance, in March 2022, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd (MHIET) Launches MGS-R Series, New Standby Generator Set which is developed for Large Commercial Facilities such as Data Centers, the New Series will Support the Digital Economy’s Growing Needs.

“Amongst end-user, industrial is accounted for a significant market share in 2020”

Based on end-user, the market is fragmented into residential, commercial, and industrial. The industrial segment is likely to dominate the global gas generator market during the forecast period (2020-2027F). It is mainly owing to the rising power outages across the globe that are escalating the demand for gas generators in various end-user industries that are positively influencing the market outlook. In addition, the rising demand for urbanization & extensive demand for clean fuel resources is going to offer profitable growth to the industrial segment for generating electricity.

APAC to witness significant growth during the forecast period”

The APAC is becoming one of the leading and emerging regions because of the exponential demand for electricity and frequent power outage. China, the part of APAC is focusing on the growth of gas by enlarging its E&P activities. On the other hand, India is extensively investing in the energy & power sector to ease access to electricity for the massive economic growth which is anticipated in providing a positive motive to the gas generator industry.  Development of retails, complexes, industries, and many others is leading to the high production rate of power supply which is putting an impact on the growth of gas generators since the consumption on fields are higher for running different activities.  In addition, the faster expansion of the telecom sector has put a huge impact on the power supply. Expanding the gas supply & distribution infrastructures taking place across the globe has led to the usage of generators which in return is increasing its demand in the market.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Global Gas Generator Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global gas generator market were the three major steps undertaken to create and analyze the adoption of the gas generator in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global gas generator market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the gas generator market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the gas generator market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as power, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the gas generator market. Further, we conducted factor analysis using dependent and independent variables such as various power, application, and end-user of gas generator equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the gas generator market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global gas generator market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the gas generator market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global gas generator market in terms of power, application, and end-user Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at a precise statistical number for each segment and sub-segment of the global gas generator market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of various power, applications, and end-user in the global gas generator market.

The main objective of the global gas generator Market Study

The current & future market trends other than the global gas generator market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investment on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the gas generator market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of power, application, and end-user.
• Define and analysis of the regulatory framework for the gas generator market industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the gas generator market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world
• Company profiles of the gas generator market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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