DUBAI, United Arab Emirates, April 13, 2022 (GLOBE NEWSWIRE) -- Between 2022 and 2032, the Gas Generator Sets Market is expected to develop at a 7% compound annual growth rate (CAGR). By 2032, the global gas generator sets market is expected to deploy 635 thousand units per year. The market expansion would be aided by rising data centre outage costs and rising natural gas exploration activity.
Because many manufacturing factories and retail enterprises were shuttered during the lockdown, the COVID-19 pandemic had a detrimental impact on the demand for industrial gas generators set around the world.
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List of Key Players Covered in Pallet Pooling Market are:
- Cummins
- Briggs & Stratton Corporation
- Kohler
- Generac Power Systems
- Caterpillar
- Rolls-Royce
- HIMOINSA
- Mahindra Powerol
- Genmac
- Aggreko
- Eaton
- Champion Power Equipment
The gaseous generator sets market is being driven by factors such as rising power consumption, a lack of reliable grid infrastructure, the requirement for emergency backup power solutions, and the demand for consistent power delivery.
Furthermore, the rising manufacturing industry's increasing energy demands are likely to generate further market prospects for portable gas generators. However, constraints such as high implementation and operating costs, consumer preference for environmentally friendly alternatives (such as solar, fuel cells, and so on), and overcapacity are predicted to limit the gas generator sets market growth during this time period.
The gas generator sets market share is forecasted to be influenced by abundant natural gas resources and favorable government rules for the deployment of clean energy resources.
The increasing focus on electrical security, in tandem with the continuing shale gas revolution, is expected to influence gas generator sets demand. These units are poised to take a sizable market share as emissions laws and falling gas prices hint at newer installations' long-term usefulness.
In the projection period, the Asia Pacific region is expected to grow at a strong rate. Lower operating expenses in this region are luring companies from larger manufacturing bases, enabling the deployment of additional gas generator sets. Furthermore, the region is beginning to establish itself as a low-cost automobile manufacturing and export hub, which is predicted to hasten the adoption of these gaseous generators.
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The gas generator sets market share expansion would profit from the increased need for reliable backup power solutions, as well as the financial and output losses associated with disruptions at manufacturing sites. Furthermore, the recent approval of necessary legislation favoring the resuscitation of mining activities is highly anticipated to increase the gas generator sets market adoption.
Frequent power outages have affected Indonesia's manufacturing sector, prompting an increase in the country's use of generator sets to maintain a consistent and steady power supply. Due to the regular power outages in these areas, South Sumatra and Jakarta are the main contributors to the gas generator sets market's growth in Indonesia.
Key Takeaways
- By 2028, the Asia Pacific gas generator sets market is expected to reach USD 9.2 billion. The growth of industries and retail complexes has resulted in a higher demand for reliable power, which has expanded the industry's scale.
- In 2021, the North American market accounted for 13.5 percent of total revenue. The business is forecasted to grow due to falling natural gas prices and expanding gas supply and distribution infrastructure, including a rise in industrial natural gas generators. The strong growth for reliable power production as a result of capacity expansion, real estate growth, and increasing industrialization is predicted to enhance the global industrial generator sets market.
- By 2028, the market for prime power gas generator sets is expected to grow at a CAGR of 6.9%. These units are utilized in remote locations such as oil and gas operations, mines, and other places where there is no access to the public grid. The industry landscape will be accelerated by resurgent industrialization and rising infrastructure, mostly in developing countries.
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Competitive Landscape
Strategic alliances, collaborations, and agreements will be crucial for gas generator sets market players. Cummins, Briggs & Stratton Corporation, Kohler, Generac Power Systems, Caterpillar, Rolls-Royce, HIMOINSA, Mahindra Powerol, Genmac, Aggreko, Eaton, Champion Power Equipment, DuroMax Power Equipment, FIRMAN Power Equipment, Westinghouse Electric Corporation, WEN Products, HIPOWER, Cooper Corp., and Camda New Energy Equipment are some of the prominent players in the market. To keep up with the industry's fierce rivalry, prominent gas generator sets companies are focusing on product innovation and creating mergers and acquisitions.
Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Gas Generator Sets Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (000 Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (000 Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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