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Natural Gas Generator Market

Global Natural Gas Generator Market Size, Share, Analysis, Growth, Forecast: By Power Rating: Up to 100 KVA, 101-350 KVA, 351-750 KVA, Above 750 KVA; By End User: Industrial, Commercial, Residential; By Application: Stand-by, Continuous; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Natural Gas Generator Market Outlook

The global natural gas generator market size attained a value of approximately USD 7.15 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.1%, reaching a value of around USD 13.31 billion by 2032.

 

The growing usage of natural gas generators by industrial and commercial end users for peak shaving is driving the market growth for natural gas generators. Supplementing electricity supply with natural gas generators during periods of peak energy demand helps save costs for industrial and commercial end users. Over the forecast period, the anticipated increase in investments towards developing power plants and electrical grid facilities are expected to garner the growth of the natural gas generator market. The expansion of various sectors such as power generation, electrical and electronics, and automotive, among others, and rising importance of uninterrupted power supply is further adding to the market growth.

 

Global Natural Gas Generator Market

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Rising Demand for Eco-Friendly Generators to Boost the Growth of Natural Gas Generator Market

The growth in the global market for natural gas generators can be associated with the introduction of environmentally friendly and sustainable generators. Due to the combustion of diesel, mainstream generators emit harmful gases, such as nitrogen oxide, hydrocarbons, and carbon monoxide, which are harmful to the environment. As a result, various regulatory authorities have imposed stringent regulations that make the use of diesel generators difficult. Thus, the development of eco-friendly alternatives to diesel generators, such as natural gas generators that aid in lowering down carbon emissions, has grown in popularity and are providing impetus to the market.

 

In addition, owing to the surging demand for electricity from various end-use sectors, industrialisation, urbanisation, and the growing population levels is pressing the need for an effective and efficient source of power generation. These factors are increasing the adoption of natural gas generators and bolstering the market growth.

 

Global Natural Gas Generator Market Share by Region

North America is projected to hold a significant share in the global market for natural gas generators. The United States has one of the most advanced gas-grid infrastructures in the world, ensuring consistent fuel supply. In addition, the United States is one of the leading producers and providers of natural gas due to the shale gas revolution, which is a major driving force of the market for natural gas generators. Moreover, natural gas generator usage in the residential sector for backup power implementations is expected to grow in the coming years as the cost of natural gas falls. Furthermore, as air emission standards in the United States become more rigorous, the demand for natural gas generators is expected to skyrocket, as opposed to traditional generating units, which are considered more polluting.

 

Natural Gas Generator Market Segmentation

A natural gas generator is a device that utilises natural gas, comprising predominantly of methane, to generate electricity when required. Commonly used in times of emergency or power outage, natural gas generators are considered more environmentally friendly than traditional gas generators.

 

Global Natural Gas Generator Market

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The natural gas generator market segmentation based on power rating is:

  • Up to 100 KVA
  • 101-350 KVA
  • 351-750 KVA
  • Above 750 KVA

 

On the basis of end user, the market is categorised into:

  • Industrial
  • Commercial
  • Residential

 

Based on application, the market is bifurcated into:

  • Stand-by
  • Continuous

 

The EMR report looks into the regional markets of natural gas generators like North America, the Asia Pacific, Latin America, Europe, and the Middle East and Africa.

 

Increasing Replacements of Traditional Generators with Natural Gas Generators to Augment Market Growth

The increasing focus on sustainability amidst rising concerns regarding environmental degradation caused by fuel combustion is one of the major factors expanding the growth of natural gas generator market around the world. Additionally, the prevailing abundance of natural gas and its relatively low prices, particularly in regions such as North America and Europe, has led to an increase in natural gas-fired power production, thereby positively influencing the growth of the market. Furthermore, robust investments by governing agencies of major developed and developing nations in advanced natural gas generators to reduce greenhouse emissions from conventional generators in line with the growing emphasis on power production from cleaner sources are some factors augmenting the growth of the market.

 

Global Natural Gas Generator Market

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Key Players in the Global Natural Gas Generator Market

The report presents a detailed analysis of the following key players in the global natural gas generator market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

 

  • Aggreko Plc.
  • Caterpillar Inc.
  • Cummins Inc.
  • APR Energy Inc.
  • Kohler Co.
  • Generac Holdings Inc.
  • Rolls-Royce Power Systems AG
  • General Electric Company
  • Generator Source, LLC 
  • YANMAR HOLDINGS CO., LTD.
  • COOPER CORPORATION
  • Siemens Energy
  • Toshiba Corporation
  • Hyosung Group
  • Others

 

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Power Rating
  • End User
  • Application
  • Region
Breakup by Power Rating
  • Up to 100 KVA
  • 101-350 KVA
  • 351-750 KVA
  • Above 750 KVA

Breakup by End User

  • Industrial
  • Commercial
  • Residential
Breakup by Application
  • Stand-by
  • Continuous
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Aggreko Plc.
  • Caterpillar Inc.
  • Cummins Inc.
  • APR Energy Inc.
  • Kohler Co.
  • Generac Holdings Inc.
  • Rolls-Royce Power Systems AG
  • General Electric Company
  • Generator Source, LLC 
  • YANMAR HOLDINGS CO., LTD.
  • COOPER CORPORATION
  • Siemens Energy
  • Toshiba Corporation
  • Hyosung Group
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Natural Gas Generator Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Natural Gas Generator Historical Market (2018-2023) 
    8.3    Global Natural Gas Generator Market Forecast (2024-2032)
    8.4    Global Natural Gas Generator Market by Power Rating
        8.4.1    Up to 100 KVA
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    101-350 KVA
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    351-750 KVA
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Above 750 KVA
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
    8.5    Global Natural Gas Generator Market by End User
        8.5.1    Industrial
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Commercial
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Residential
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Natural Gas Generator Market by Application
        8.6.1    Stand-by
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Continuous
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Natural Gas Generator Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America Natural Gas Generator Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Natural Gas Generator Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Natural Gas Generator Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Natural Gas  Generator Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Natural Gas Generator Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Aggreko Plc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Caterpillar Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Cummins Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    APR Energy Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Kohler Co.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Generac Holdings Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Rolls-Royce Power Systems AG
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    General Electric Company
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Generator Source, LLC
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    YANMAR HOLDINGS CO., LTD.
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    COOPER CORPORATION
            16.2.11.1    Company Overview
            16.2.11.2    Product Portfolio
            16.2.11.3    Demographic Reach and Achievements
            16.2.11.4    Certifications
        16.2.12    Siemens Energy
            16.2.12.1    Company Overview
            16.2.12.2    Product Portfolio
            16.2.12.3    Demographic Reach and Achievements
            16.2.12.4    Certifications
        16.2.13    Toshiba Corporation
            16.2.13.1    Company Overview
            16.2.13.2    Product Portfolio
            16.2.13.3    Demographic Reach and Achievements
            16.2.13.4    Certifications
        16.2.14    Hyosung Group
            16.2.14.1    Company Overview
            16.2.14.2    Product Portfolio
            16.2.14.3    Demographic Reach and Achievements
            16.2.14.4    Certifications
        16.2.15    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Natural Gas Generator Market: Key Industry Highlights, 2018 and 2032
2.    Global Natural Gas Generator Historical Market: Breakup by Power Rating (USD Billion), 2018-2023
3.    Global Natural Gas Generator Market Forecast: Breakup by Power Rating (USD Billion), 2024-2032
4.    Global Natural Gas Generator Historical Market: Breakup by End User (USD Billion), 2018-2023
5.    Global Natural Gas Generator Market Forecast: Breakup by End User (USD Billion), 2024-2032
6.    Global Natural Gas Generator Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Natural Gas Generator Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Natural Gas Generator Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Natural Gas Generator Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Natural Gas Generator Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Natural Gas Generator Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Natural Gas Generator Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Natural Gas Generator Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Natural Gas Generator Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Natural Gas Generator Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Natural Gas Generator Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Natural Gas Generator Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Natural Gas Generator Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Natural Gas Generator Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Natural Gas Generator Market Structure

Key Questions Answered in the Report

The global market for natural gas generators attained a value of approximately USD 7.15 billion in 2023.

The market is projected to grow at a CAGR of 7.1% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 13.31 billion by 2032.

The market is being driven by the increasing preference for eco-friendly generators over mainstream generators, rising availability of natural gas, and its affordable prices.

The key natural gas generator market trends include rising focus on sustainability, increasing occurrence of power outages, and growing usage in industrial and commercial facilities.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant power ratings of natural gas generators are up to 100 KVA, 101-350 KVA, 351-750 KVA, and above 750 KVA.

The various end users of natural gas generators include industrial, residential, and commercial.

The primary applications of natural gas generators in the market are stand-by and continuous.

The major players in the market, according to the report, are Aggreko Plc., Caterpillar Inc., Cummins Inc., APR Energy Inc., Kohler Co., Generac Holdings Inc., Rolls-Royce Power Systems AG, General Electric Company, Generator Source, LLC, YANMAR HOLDINGS CO., LTD., COOPER CORPORATION, Siemens Energy, Toshiba Corporation, and Hyosung Group, among others.

Analyst Review

The global natural gas generator market attained a value of approximately USD 7.15 billion in 2023, driven by the rising focus on sustainable methods of power generation. Aided by the rising investments in the energy and power sector, the market is expected to grow at a CAGR of 7.1% in the forecast period of 2024-2032, reaching a value of around USD 13.31 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on power ratings, the market is segmented into up to 100 KVA, 101-350 KVA, 351-750 KVA, and above 750 KVA. The market, based on end user, is categorised into residential, industrial, and commercial. On the basis of application, the market is divided into stand-by and continuous. The major regional markets for natural gas generators are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Aggreko Plc., Caterpillar Inc., Cummins Inc., APR Energy Inc., Kohler Co., Generac Holdings Inc., Rolls-Royce Power Systems AG, General Electric Company, Generator Source, LLC, YANMAR HOLDINGS CO., LTD., COOPER CORPORATION, Siemens Energy, Toshiba Corporation, and Hyosung Group, among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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