The Low And Medium Capacity Gas Generator Market is being driven by Rising preference of gas generators
The Low And Medium Capacity Gas Generator Market is expected to grow at a CAGR of 18.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13637.4 million. In the context of power generation, fuel costs represent a significant expense for end-users. Over the past decade, fuel prices have exhibited volatility due to fluctuating demand and supply dynamics, particularly in the oil and gas markets. While smaller capacity generators typically run on gas, they cannot provide the high power output required by data centers. Conversely, larger generators, which generally use diesel, face challenges due to fluctuating diesel prices, especially for enterprises. This market trend necessitates the development of technology that can effectively harness the benefits of both fuel sources to mitigate the risks associated with price volatility.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
219 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.4% |
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Market growth 2025-2029 |
USD 13637.4 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
15.0 |
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Key countries |
US, Canada, Germany, UK, China, France, Japan, Italy, South Korea, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Low and Medium Capacity Gas Generator market encompasses the production, sale, and use of natural gas generators as backup power solutions during power outages, natural disasters, and climate change. Natural gas generators offer an alternative to diesel gensets, reducing carbon emissions and leveraging abundant natural gas reserves. Medium power gensets are popular in emerging economies, healthcare facilities, and the life sciences industry. Natural gas, including shale gas and reserves of hydrogen and helium, fuels these generators. Refurbished products offer cost-effective solutions, while high power gensets serve large-scale applications. Food safety concerns and the cannabis testing industry also contribute to market growth.
The Low and Medium Capacity Gas Generator market is a significant segment of the global heavy electrical equipment industry, serving the energy sector and various industrial applications, including power, mining, and oil and gas. According to Technavio, the electrical equipment market's size is determined by the consolidated revenue of manufacturers producing electrical components, such as cables, wires, and heavy electrical equipment. The market's growth is influenced by several factors, including increasing power outages due to natural disasters in regions like MEA, Europe, and APAC, which are prone to extreme weather conditions, such as floods, earthquakes, and annual droughts. Additionally, the shift towards cleaner energy sources, such as natural gas, from carbon-emitting diesel gensets, and the abundance of natural gas reserves, further boost market growth. Natural disasters, however, pose a challenge to market expansion, as they disrupt supply chains and production facilities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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