The global advanced gas generators market has observed a steady growth in recent years and is expected to witness significant growth in the forecast period. A gas fuelled generator set (genset) utilizes the energy produced from combustion of gas to generate electricity. Major applications of the product include electricity supply, combined heat and power, room heating, water cooling, and carbon dioxide to cater to the local electricity demand.
Owing to the advancements in communications and information technology, the global electronic and electrical market has expanded its reach in both emerging and mature economies. This has positively affected the growing usage of television, computer, room lighting, refrigerator, mobile phone, room heater, air cooler, elevator, and other commercial segments. Electricity supply plays a critical factor for households facing cold weather during most times of the year. Increasing population coupled with shortage of land availability has bolstered the construction of multi-storeyed apartments, workplaces, and other industrial & commercial buildings. Such infrastructure needs continuous power supply and cannot depend solely on the local power grids. Owing to depleting natural resources, hydro and thermal power generation industry lacks the ability to cater to the surging demand for continuous supply of electricity. Additionally, the unpredictable and harsh natural disasters which have caused serious damage to the electrical grids, generators can cater to the full-time or emergency need for electricity supply. The aforementioned factors are expected to positively affect the advanced gas generators demand in economies such as Asia Pacific, Africa, Middle East, and Australia.
Absence of main electricity grid coupled with transmission losses has obstructed power supply to remote areas in various cities, which results in phase wise distribution of electricity. Destruction of power grid due to natural calamities can also lead to power outages for hours and days which can hamper the regular lifestyle of consumers. Increased disposable income coupled with positive trend of electronic goods usage will positively affect the demand for continuous power supply. It has been observed that the conventional sources of power supply are facing political and ecological hindrance in catering to the demand of households and manufacturing sectors. This has urged the angel investors to look for alternate power sources which can provide uninterrupted supply to the highly dependent households and industries. Emissions related to conventional gensets cause a negative impact on the environment which has urged governments to revise the generator emission standards. This provides an opportunity for R&D initiatives in developing cost efficient multi-fuel generators, which can utilize wide range of fuels and contribute less to the greenhouse effect.
High equipment costs associated in setting up gas feed pipelines and generators can affect the monetization of such projects on a large scale. Heat energy produced from gas gensets need cooling systems as additional equipment in installing generators. The costs involved coupled with increased dependence on continuous power supply has boosted the demand for power generators. Multi-fuel generators which serve as temporary source of electricity can utilize diesel as well as natural gas. Combined heat and power (CHP) systems can utilize these gensets to provide electricity and heat energy for meeting the facility’s thermal requirements. Recent developments in petroleum E&P along with distribution of natural gas and other NGL components are also expected to bolster the use of gas fuelled generators. Other types of generators which utilize gas as energy source use biogas, propane, field gas, and coal gas.
Europe is expected to be the largest advanced gas generators market with the UK, Russia, and Germany as major consumers. High cost of power generation coupled with improved natural and biogas distribution channels may be attributed to high product demand in the region. Asia Pacific and Middle East & Africa are expected to witness high growth over the forecast period owing to shifting industrial preference towards cleaner and sustainable power generators. This is further supported by increasing consumer disposable income coupled with favorable government initiatives in economies including India, China, Japan, and UAE.
Major companies operating in global advanced gas generators market include Caterpillar, Cummins, Kohler Power, Generac, Waukesha, Clark-Energy, Central Maine Diesel, Briggs & Stratton Power Equipment, Ingersoll Rand Energy Systems, Yamaha, Doosan Portable Power, and Bryan Power Generation Solutions Group. Companies are increasing their R&D spending in order to improve the overall equipment efficiency along with developing multi-fuel generator systems which can even support large-scale industrial sectors. Strategic alliances and M&A are other strategies followed by some advanced gas generators industry participants in order to increase their market share.
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