Top Emerging Trends Of Natural Gas Generator Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on August 23rd, 2022 The global natural gas generator market size is expected to reach USD 18.67 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.4% during the forecast period, according to a new report by Grand View Research, Inc. Growing demand for backup power coupled with increasing government regulation to reduce the carbon emission caused by diesel genset is likely to strengthen the growth of the market during the forecast period. The global electricity demand is anticipated to witness an increase of nearly two-thirds of the current demand during the forecast period. The current availability of natural gas in large quantities and its relatively lower prices, especially in regions, such as North America and Europe, has led to an increase in power generation using natural gas. Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel gensets are the factors anticipated to increase the share of natural gas generators set in the coming years. Conventional gensets, such as diesel gensets, emit harmful gases, including nitrogen oxide, hydrocarbons, and carbon monoxide, due to the combustion of diesel. As a result, different regulatory bodies have imposed strict regulations and thus making it difficult for diesel generators to be used. This has led to the growth of eco-friendly alternatives to diesel gensets, such as natural gas gensets. Emerging economies in the Asia-Pacific region, such as India, China, Japan, and others, have witnessed strong growth in their commercial sectors. The growth of demand for natural gensets over diesel gensets for backup power applications is owing to the increasingly stringent government regulations to curb greenhouse gas emissions caused by diesel gensets. The rising occurrence of power outages and power supply deficits globally, combined with regulations imposed on the use of diesel gensets due to high levels of carbon emissions, is driving the global demand for natural gas generators. However, the high capital cost of natural gas genset as compared to diesel genset coupled with limited natural gas reserves is expected to restrict the growth of the business. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/natural-gas-generator-market/request/rs1 The U.S. natural gas generator market accounted for the largest market share in 2021 in the North American market, and the trend is projected to continue during the forecast period due to the growing concern for carbon emissions caused by diesel gensets and the availability of natural gas as a fuel for gensets. Moreover, growing industrial and commercial facilities, such as shopping malls, high rises, universities, restaurants, district heating, and cooling plants, refineries, office buildings, and others in the U.S., are driving the demand for uninterrupted electricity supply to expand businesses and perform operations efficiently, which propels the demand for natural gas gensets. Natural Gas Generator Market Report Highlights
Key companies in the industry are adopting various organic and inorganic growth strategies to expand their service portfolio and gain market share. For instance, in September 2022, Kohler Co., Inc. was honored with the Green Power Leadership Award 2022 by the U.S. Environmental Protection Agency (EPA). This is one of the voluntary programs run by the U.S. EPA to enhance the utilization of green power across the U.S. Under this program, Kohler Co., Inc. purchased 425 million units of renewable power on an annual basis to offset its electricity consumption across the U.S. and Canada. Furthermore, in June 2018, the company completed the acquisition of Selmec and was involved in the designing and manufacturing of diesel generators in the range of 10 kW to 2,750 kW and natural gas generators in the range of 30 kW to 400 kW. Some prominent players in the global natural gas generator market include:
The global natural gas generator market size is expected to reach USD 18.67 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.4% during the forecast period, according to a new report by Grand View Research, Inc. Growing demand for backup power coupled with increasing government regulation to reduce the carbon emission caused by diesel genset is likely to strengthen the growth of the market during the forecast period. The global electricity demand is anticipated to witness an increase of nearly two-thirds of the current demand during the forecast period. The current availability of natural gas in large quantities and its relatively lower prices, especially in regions, such as North America and Europe, has led to an increase in power generation using natural gas. Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel gensets are the factors anticipated to increase the share of natural gas generators set in the coming years. Conventional gensets, such as diesel gensets, emit harmful gases, including nitrogen oxide, hydrocarbons, and carbon monoxide, due to the combustion of diesel. As a result, different regulatory bodies have imposed strict regulations and thus making it difficult for diesel generators to be used. This has led to the growth of eco-friendly alternatives to diesel gensets, such as natural gas gensets. Emerging economies in the Asia-Pacific region, such as India, China, Japan, and others, have witnessed strong growth in their commercial sectors. The growth of demand for natural gensets over diesel gensets for backup power applications is owing to the increasingly stringent government regulations to curb greenhouse gas emissions caused by diesel gensets. The rising occurrence of power outages and power supply deficits globally, combined with regulations imposed on the use of diesel gensets due to high levels of carbon emissions, is driving the global demand for natural gas generators. However, the high capital cost of natural gas genset as compared to diesel genset coupled with limited natural gas reserves is expected to restrict the growth of the business. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/natural-gas-generator-market/request/rs1 The U.S. natural gas generator market accounted for the largest market share in 2021 in the North American market, and the trend is projected to continue during the forecast period due to the growing concern for carbon emissions caused by diesel gensets and the availability of natural gas as a fuel for gensets. Moreover, growing industrial and commercial facilities, such as shopping malls, high rises, universities, restaurants, district heating, and cooling plants, refineries, office buildings, and others in the U.S., are driving the demand for uninterrupted electricity supply to expand businesses and perform operations efficiently, which propels the demand for natural gas gensets. Natural Gas Generator Market Report Highlights
Key companies in the industry are adopting various organic and inorganic growth strategies to expand their service portfolio and gain market share. For instance, in September 2022, Kohler Co., Inc. was honored with the Green Power Leadership Award 2022 by the U.S. Environmental Protection Agency (EPA). This is one of the voluntary programs run by the U.S. EPA to enhance the utilization of green power across the U.S. Under this program, Kohler Co., Inc. purchased 425 million units of renewable power on an annual basis to offset its electricity consumption across the U.S. and Canada. Furthermore, in June 2018, the company completed the acquisition of Selmec and was involved in the designing and manufacturing of diesel generators in the range of 10 kW to 2,750 kW and natural gas generators in the range of 30 kW to 400 kW. Some prominent players in the global natural gas generator market include:
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