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Gas Generator Sets Market Size By Power Rating (≤ 50 kVA, > 50 kVA – 125 kVA, > 125 kVA – 200 kVA, > 200 kVA – 330 kVA, > 330 kVA – 750 kVA, > 750 kVA), By End Use (Residential, Commercial, Industrial), By Application (Standby, Peak Shaving, Prime/Continuous), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

  • Report ID: GMI3221
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Trends

Gas Generator Sets Market size exceeded USD 8.9 billion in 2021 and is projected to grow at over 7.4% CAGR between 2022 and 2028. Global industry annual installation is anticipated to reach 635 thousand units by 2028. Escalating data center outage costs coupled with surging natural gas exploration activities will boost the market growth.
 

Gas Generator Sets Market Overview

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Abundant availability of natural gas resources along with favorable government regulations to deploy clean energy resources will influence the market expansion. Surging focus on security of electricity in line with ongoing shale gas revolution will sway the product demand. These units are set to capture a considerable market share as emission regulations and declining gas prices point toward long-term value for newer installations.
 

Rising drilling activities in the oil & gas sector to foster product demand

Gas Generator Sets Market Size

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The > 330 kVA - 750 kVA gas generator sets market is slated to showcase 7.3% growth rate through 2028. Increasing frequency & severity of weather-related disasters has significantly necessitated the product acceptance. The occurrence of these natural calamities has spiked intensely over the past decade, causing prolonged blackouts, stimulating the business growth. Surging demand and infrastructure development in line with capacity market initiative from the healthcare sector will accelerate the industry progression.
 

The > 750 kVA rated segment is poised witness a substantial growth on account of the surging demand from data centers and rising exploratory & drilling activities in the oil & gas sector. Increasing data usage through e-commerce platforms, social networking, smartphones, and government plans will favor the adoption of these units. Ongoing digitalization of industries along with elevating costs of data center outages will favor the industry growth. Increasing applicability across telecom towers, educational institutions, and hotels to spur the industry expansion.
 

Flourishing residential sector will complement the market demand

Residential application is expected to cross USD 2.3 billion by 2028. Aging equipment, capacity bottlenecks, and increasing demand along with rising climate impacts correspond to rising power interruptions, thereby necessitating a wider adoption of these generators. Increasing disruption of power supply in line with increasing work from home concept will augment the business landscape.
 

Wide scale utilization across resorts, universities, high-rise office buildings, shopping malls, hospitals, and data centers will complement the commercial end-use segment. These gensets are preferable for diverse mining operations including iron, gas, coal or metal mining owing to their mobility into far-fetched mining zones. In addition, the development of the natural gas exploration and production along with increasing demand for clean fuel energy will sway the business outlook.
 

Increasing electrification rate along with surging development of smart city projects will propel the market value

Prime power gas generator sets market is estimated to attain a CAGR of 6.9% through 2028. These units are used across remote locations including oil & gas facilities, mines, and on sites that lack access to the public grid. Resurgent industrialization and expanding infrastructure, predominantly across the developing countries will accelerate the industry landscape. Improved electrification rates will substantially entail the use of these systems to support the main grid or to even integrate with the renewable power sources to reinforce the intermittent power supply. The product offers key advantages including advanced machinery to handle friction and heat generation for long-time usage, boosting the industry potential.
 

The global economy has been hit hard by an unforeseen outbreak of the virus, COVID- 19. The virus was first acknowledged in China’s Hubei province in December 2019 and since then it has become a global health threat. Companies are adopting creative & resourceful methods to recruit workforce to meet their production needs. Best favorable conditions including ongoing measures to continue commercial, construction, and infrastructure development operations are slated to stimulate the demand for gas generator sets.
 

APAC region will dominate the overall industry revenue

APAC Gas Generator Sets Market

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Asia Pacific gas generator sets market size is predicted to cross USD 9.2 billion by 2028. The development of industries and retail complexes has corresponded to an increased demand for consistent power supply, augmenting the industry size. For instance, the India gas gensets industry to register an extensive deployment of these gensets owing to the dynamic expansion of telecom infrastructure, rapid industrial growth, and frequent power failures in the country. Large-scale development of data centers along with massive plans supported by governments for rigorous infrastructure expansion will foster the industry value.
 

North America market held 13.5% of revenue share in 2021. Declining natural gas prices complemented by an expanding gas supply & distribution infrastructure will impel the business expansion. Intensifying and frequent weather-related disasters have substantially widened the deployment spectrum for these gensets. Furthermore, rising costs of data center outages coupled with strengthening consumer awareness toward reliable backup power solutions will energize the industry dynamic.
 

Strategic partnerships, collaborations, agreements will act as key points for market participants

Eminent players operating in the market are 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. The major companies are focusing on product innovations while forming mergers & acquisitions to meet the competition prevailing in the industry.
 

Gas generator sets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2018 to 2028, for the following segments:

Market, By Power Rating

  • ≤ 50 kVA
  • > 50 kVA - 125 kVA
  • > 125 kVA - 200 kVA
  • > 200 kVA - 330 kVA
  • > 330 kVA - 750 kVA
  • > 750 kVA

Market, By End Use

  • Residential
  • Commercial
  • Industrial

Market, By Application

  • Standby
  • Peak Shaving
  • Prime/Continuous

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • UK
    • Germany
    • France
    • Spain
    • Austria
    • Italy
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Vietnam
    • Philippines
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Turkey
    • Iran
    • Oman
  • Africa
    • Egypt
    • Nigeria
    • Algeria
    • South Africa
    • Angola
    • Kenya
    • Mozambique
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile

 

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Market size of gas generator sets recorded at over USD 8.9 billion in 2021 and could grow at a CAGR of 7.4% over-2022-2028 driven by increasing natural gas exploration activities and rising data center outage costs.

The >330 kVA - 750 kVA segment will grow at 7.3% rate between 2022 and 2028 owing to growing frequency & severity of weather-related disasters.

The residential applications is anticipated to surpass USD 2.3 billion by 2028 driven by the surging work from home trend and rising disruptions in power supply.

Asia Pacific market is anticipated to exceed USD 9.2 billion by 2028 with rising need for constant power supply due to consistent development of retail complexes and industries.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 19
  • Tables & Figures: 715
  • Countries covered: 36
  • Pages: 440

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