The Gas Generating Systems Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Gas Generating Systems market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Gas Generating Systems. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Gas Generating Systems Market is currently witnessing a surge in interest from both corporate entities and individual consumers, driven by a desire to reduce reliance on traditional power grids and achieve energy independence. The adoption of gas generating devices, such as biogas or natural gas generators, enables users to produce their own electricity locally. This emerging trend underscores a growing emphasis on reliable and self-sufficient energy sources, indicating a shift towards improved energy resilience and autonomy. Forecasts indicate that by 2033, the market for gas generating systems could surpass a value of US$ 20.8 billion. Over the next decade, from 2023 to 2033, the market is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.4%. It is expected to experience significant value growth in 2023, reaching US$ 8.5 billion.
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Gas-powered generators, including those utilizing biogas and natural gas, are increasingly being recognized as viable solutions for achieving energy independence and reducing reliance on traditional power grids. Both commercial and residential entities are actively seeking methods to implement these generators locally to generate their own electricity.
The demand for gas generators stems from their ability to provide a reliable and independent source of energy, particularly in areas prone to frequent power outages or where grid connectivity is limited. They also serve as crucial emergency backup power sources, ensuring uninterrupted operations for critical infrastructure, businesses, and households.
From an environmental perspective, gas generators are perceived as more environmentally friendly compared to diesel or gasoline generators due to their lower emissions of pollutants and greenhouse gases. The adoption of biogas generators aligns with efforts to promote renewable energy sources and reduce dependence on fossil fuels.
The economic viability of gas generators is further bolstered by the lower cost of natural gas compared to other fossil fuels. Additionally, technological advancements have improved the efficiency of these generators, resulting in reduced fuel consumption and operating costs over time.
Gas generators are utilized across various industrial sectors such as manufacturing, construction, agriculture, and oil & gas, where a reliable power supply is essential for machinery, equipment, and operations. The demand from these sectors is expected to continue rising as organizations seek to enhance operational efficiency and productivity.
Government initiatives aimed at promoting greener and more sustainable energy sources are also driving demand for gas generators. Incentives, tax exemptions, and subsidies offered to organizations and individuals investing in these systems are expected to further stimulate market demand and facilitate market expansion.
Key Takeaways:
- The global gas generating systems market witnessed a decent CAGR of 11.4% from 2018 to 2022.
- The United States gas generating systems market is projected to witness a CAGR of 9.3% from 2023 to 2033.
- The United Kingdom gas generating system market is anticipated to cross a value of US$ 815.4 million by 2033.
- Based on end users, the industrial segment is anticipated to witness a CAGR of 9.1% in the forecast period.
- Based on the power rating, the less than 75 kVA segment witnessed a CAGR of 11.2% from 2018 to 2022.
Competitive Landscape:
Air Liquide S.A, Air Products, and Chemicals, Inc, Colfax Corporation, GCE Holding, and Itron, Inc. Manufacturers are diversifying their product lines to provide a variety of gas generating systems with different capacities, features, and requirements. This enables them to meet a variety of customer requirements in various sectors and applications.
The effectiveness, functionality, and dependability of gas generating systems are the subject of ongoing research & development. Advanced technologies such as electronic control systems, enhanced engine designs, intelligent monitoring & diagnostic capabilities, and remote management features are being incorporated by manufacturers. They want to improve user experience and boost system efficiency.
A few other businesses are creating goods that can run on several gases, including biogas, natural gas, and propane, making them fuel-flexible. Users might adjust to the availability and cost of different fuel sources owing to this flexibility, which increases versatility and efficiency.
For instance:
- Generac Power Systems introduced the Generac PWRcell system in January 2020. It is a top producer of backup power production solutions and supplies. In order to address the rising demand for home energy storage solutions, Generac has worked to improve and expand its PWRcell product line since its introduction.
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More Valuable Insights Available:
The research report analyzes the global demand for gas generating systems. The global gas generating systems market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights (FMI), the market has been analyzed based on power rating (less than 75 kVA, 75 to 375 kVA, and above 375 kVA), end user (industrial, commercial, and residential), and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.
Key Segments Profiled:
By Power Rating:
- Less than 75 kVA
- 75-375 kVA
- Above 375 kVA
By End User:
- Industrial
- Commercial
- Residential
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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