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The gas generator market share is expected to increase by USD 3.61 billion from 2021 to 2026, at a CAGR of 7.07%.
This gas generator market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers gas generator market segmentation by end-user (industrial, commercial, and residential) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The gas generator market report also offers information on several market vendors, including Aggreko Plc, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Champion Power Equipment Inc., Chroma Power Systems India Pvt. Ltd., Cooper Corp. Pvt. Ltd., Cummins Inc., Endress Elektrogeratebau GmbH, Generac Power Systems Inc., Himalayan Power Machines Mfg Co., Kohler Co., DIMAX International GmbH, Mahindra and Mahindra Ltd., R Schmitt Enertec GmbH, Rolls-Royce Holdings Plc, Teksan Generator Power Industries and Trade Co. Inc., and Yanmar Holdings Co. Ltd. among others.
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The increasing instances of power grid failure is notably driving the gas generator market growth, although factors such as the availability of diesel generators in the market may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gas generator industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Gas Generator Market Driver
One of the key factors driving the global gas generator industry growth is the increasing instances of the power grid due to rapid urbanization. For instance, according to the National Urban Digital Mission (NUDM) in India, it is estimated that the urban population in India, one of the fastest developing nations worldwide, will reach 600 million by 2030, thereby increasing the demand for power considerably. India is the third-largest producer and consumer of electricity after the US and China. However, the country's electricity infrastructure is quite unreliable, with many parts of the country facing major power cuts every day. Further countries in APAC and MEA, such as Kyrgyzstan, Uzbekistan, Ghana, and Nigeria, have been facing rampant blackouts for the past decade. For instance, in January 2022, several blackouts were reported in Kazakhstan, Uzbekistan, and Kyrgyzstan. Therefore, the growing frequency of power grid failures is projected to enhance market growth during the forecast period.
Key Gas Generator Market Trend
Rising demand for repair and remanufacturing of energy equipment is one of the key gas generator market trends that is expected to impact the industry positively in the forecast period. The gas generators used in highly corrosive and harsh environments and industries are often remanufactured or repaired using material deposition technologies, such as plasma arc welding and laser cladding. The costs associated with the replacement of components may be quite high. Thus, laser cladding techniques are often used by owners, which can significantly reduce the wear on the parts, thereby extending service life and considerably reducing the cost of operations and maintenance (O and M). Due to the advances in laser and heat treatment technologies, the components can also be repaired without significant distortion, which makes thermal spray, plasma spray, and laser cladding technologies highly appealing in repair and maintenance activities. Such factors will compel market vendors to invest more in aftermarket and repair services to gain a competitive advantage.
Key Gas Generator Market Challenge
One of the key challenges to the global gas generator industry growth is the availability of diesel generators in the market. Over the years, in order to improve the overall efficiency of diesel-powered generators, several initiatives and changes have been implemented in the engine. Engines in present-day diesel generators have modified combustion chambers that provide optimal combustion rates, better fuel economy, and lower emissions. For instance, the common rail fuel system was designed and developed for direct fuel injection. This technology injects diesel directly from the fuel tank to the different valves while maintaining the pressure to homogenize the fuel and oxygen. In addition, several government regulations on PM levels in the air and extensive R and D by generator vendors have resulted in the development of diesel with comparatively lower sulfur content. These factors will make diesel generators more popular and thus, impede the growth of the global gas generator market.
This gas generator market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global gas generator market as a part of the global heavy electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the gas generator market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the gas generator market encompasses successful business strategies deployed by the key vendors. The gas generator market is fragmented and the vendors are deploying growth strategies such as products differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The gas generator market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the gas generator market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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26% of the market's growth will originate from Europe during the forecast period. Germany, France, and Russia are the key markets for gas generators in Europe. Market growth in this region will be faster than the growth of the market in South America.
The significant increase in the demand for high-power supply solutions in the automotive and energy industries and the availability of natural gas reserves will facilitate the gas generator market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic severely affected the region in 2020. Furthermore, to control the spread of the pandemic, many countries in the region, such as the UK, France, Germany, Italy, Spain, and others, imposed stringent regulations on travel and transportation. These factors affected the production and trade activities of gas generator manufacturers in Europe. However, since 2021, the ramping up of COVID-19 vaccination drives and resumption of end-user activities, such as manufacturing and automotive, positively impacted the regional market. This led to a recovery in sales of gas generators, which is expected to have a positive impact on the growth of the market in focus during the forecast period.
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The gas generator market share growth by the industrial segment will be significant during the forecast period. This segment is expected to be more inclined toward the use of gas generators in the coming years on account of the various environmental regulations imposed on the use of diesel in engines and generators. In addition, with rapid industrialization happening globally and especially in developing countries, such as China, Brazil, and India, the need for an uninterrupted power supply has become of paramount importance.
This report provides an accurate prediction of the contribution of all the segments to the growth of the gas generator market size and actionable market insights on post COVID-19 impact on each segment.
Gas Generator Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 7.07% |
Market growth 2022-2026 |
$ 3.61 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.01 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 26% |
Key consumer countries |
US, Canada, Iran, China, and Russia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Aggreko Plc, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Champion Power Equipment Inc., Chroma Power Systems India Pvt. Ltd., Cooper Corp. Pvt. Ltd., Cummins Inc., Endress Elektrogeratebau GmbH, Generac Power Systems Inc., Himalayan Power Machines Mfg Co., Kohler Co., DIMAX International GmbH, Mahindra and Mahindra Ltd., R Schmitt Enertec GmbH, Rolls-Royce Holdings Plc, Teksan Generator Power Industries and Trade Co. Inc., and Yanmar Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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