Energy & Mining

Gas Genset Market 2019 Global Industry Size, Emerging Technologies, Comprehensive Research Study and Forecast To 2023

Press Release

The global gas genset market is expected to grow at 5.00 % CAGR during the forecast period.   Gas genset consists of a gas engine and generator. The engine converts the chemical energy of a fuel to mechanical energy and this mechanical energy is used to spin the alternator rotor, thereby converting the mechanical energy to electrical energy. The alternator consists of two parts i.e. a rotor and stator. The various fuel includes natural gas, biogas, and others. The other components of genset are fuel day tank, basecamp, cooling system, and an enclosure, if needed.

Gensets provide energy mostly in geographical areas which are not connected to power grid and in areas with frequent power outages. So, gensets can be used either as a main source of energy or as a supplementary source of power.  The gas gensets are environment friendly and produces lower carbon, sulfur, and nitrogen emissions. Genset refers to engine and alternator/generator. For instance, gas genset consists of gas engine, alternator/generator, fuel day tank, basecamp, cooling system, and an enclosure. Engine converts the chemical energy into mechanical energy and this energy is used to power the rotor in order to convert mechanical energy into electrical energy.

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Key Players:

  • Caterpillar,
  • Cummins,
  • Wartsila,
  • Siemens AG,
  • GE,
  • ABB,
  • Genrac Power Systems,
  • MTU Onsite Energy GmbH,
  • PARAMAC,
  • Himoinsa, and
  • Sudhir Power.

Gas Genset Market Segmental Analysis:

Global gas genset market has been segmented based on fuel, power rating, application, end-user, and region.

Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.

The global gas genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and Above 1000 KVA.

Based on application, the global gas genset market is segmented into standby, peak shaving, and continuous.  Standby segment led the global gas genset market in 2017.

The global gas genset market is segmented by end-user into industrial, residential, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period.

Regional Outlook:

Region wise, North America held the largest market share of the global gas genset market in 2017 owing to huge availability of natural gas in the region. The global gas genset market in North America is dominated by US owing to growth of natural gas and decline in natural gas prices in the US. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising natural gas production in the region. The gas genset market would be mainly driven by the favorable government regulations against greenhouse gas emissions.

Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope Of The Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Size Estimation

3.4 Forecast Model

3.5 List Of Assumptions

3.6 Limitations Of The Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.3 Market Restraints

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat Of New Entrants

5.5.2 Bargaining Power Of Buyers

5.5.3 Bargaining Power Of Suppliers

5.5.4 Threat Of Substitutes

5.5.5 Intensity Of Rivalry

5.6 Value Chain/Supply Chain Analysis

Continued..

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