Global Gas Generator Market 2017-2021: Industry Analysis and Geographical Segmentation by Technavio
The global
gas generator market is expected to grow at a CAGR of around
8% during the forecast period, according to Technavio’s latest market
research.
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Technavio has published a new report on the global gas generator market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technavio
covers the market outlook and growth prospects of the global gas
generator market for 2017-2021. The market is further
categorized into three end-user segments, comprising of industrial,
residential, and commercial users.
“Gas generators are expected to exhibit a steady growth rate due to
the increase in demand for these generators from the burgeoning
commercial and industrial sector. The demand from these sectors is
mainly due to the use of these generators as auxiliary power units to
operate equipment and machinery during power outages and thereby prevent
revenue loss,” says Gaurav Mohindru, a lead unit
operations research expert from Technavio.
Technavio’s research analysts segment the global gas generator market
into the following regions:
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Gas generator market in Americas
The shale gas boom will have a positive impact on the growth of the gas
generator market in the Americas during the forecast period. Gas prices
are on the higher side for residential and commercial users, as compared
to industrial users. However, when compared with the prices in 2008, gas
prices have declined tremendously in 2014 and 2015. This is a major
driver for the gas generator market in the Americas. Gas generators are
gaining traction in the region with industrial consumers forming the
main contributors to this trend.
The need for uninterrupted power supply from end-users, such as telecom,
hospitals, and data centers, along with the oil and gas industry is
driving the power rental market in North America, which in turn, will
drive the market for gas generators in the region.
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Gas generator market in EMEA
In EMEA, the countries of the Middle East and North Africa (MENA) are
prone to power outages, which last more than 100 hours in certain cases.
As a result, industries in this region witness significant revenue
losses in times of electrical failure. Therefore, the best solution
available for these countries is the installation of gas generators. The
availability of natural gas reserves in some parts of EMEA, such as the
Middle East, is an important reason contributing to the growth of gas
generators market in this region.
“The Middle East constitutes the world's major oil and gas producing
countries, which account for approximately half of the world's gas and
crude oil reserves. Oil and gas activities require a continuous supply
of uninterrupted power. This is one of the main reasons for EMEA being a
primary power rental market which generates a tremendous demand for gas
generators,” says Gaurav.
Gas generator market in APAC
Developing countries in APAC are witnessing rapid industrialization and
urbanization. Also, the population in this region is increasing at a
greater rate when compared with that in the developed countries. The
growth in the number of people has added to the demand for electricity.
But the poor power infrastructure in the Asian countries is inadequate
to meet this requirement, because of which these nations witness
frequent power outages and depend heavily on generators for power
backup. This is expected to foster the growth of the gas generator
market in APAC during the forecast period.
The top vendors in the global gas generator market as highlighted in
this market research analysis are:
-
Caterpillar
-
Cummins
-
Generac Power Systems
-
Kohler
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