Industrial Gas Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
Gas generators are used for driving a turbine or generating combustible gases from a liquid or solid source. The gases which are created by the generator consist of the products of complete combustion of the fuel which include carbon dioxide and water. As they act as the source of backup or emergency power, gas generators have gained immense popularity across the industrial sector. Currently, they are available in different types of engines which vary in terms of their functionality and operating power. According to the latest report by IMARC Group, titled “Industrial Gas Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global industrial gas generator market reached a value of US$ 2.9 Billion in 2018.
Over the years, the adoption of gas generators across the industrial sector has increased owing to the need for uninterrupted power supply due to an increase in power outages and faults in electric networks. Additionally, a strong demand from emerging regions such as the Middle East and Asia on account of rapid urbanisation and industrialisation has fuelled the growth of the global industrial gas generators market. Moreover, technological advancements such as the installation of remote monitoring systems has further broadened the growth prospects of the market. Looking forward, the market value is projected to be US$ 4.4 Billion by 2024, exhibiting a CAGR of 7.3% during 2019-2024.
Based on type, the market has been segmented as 20KW to 100KW, 101KW to 500KW, 501KW to 1MW, 1 MW to 2 MW, and 2 MW to 5 MW.
On the basis of end-use segment, the global industrial gas generator market has been segregated as chemical industry, breeding industry, petroleum and gas industry, and mining industry.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Caterpillar, Cummins, GE, Kohler, Himoinsa, Generac, Lvhuan , Rolls-Royce, Multiquip, JDEC, etc.
This report provides a deep insight into the global industrial gas generators market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the industrial gas generators industry in any manner.
Key Questions Answered in This Report:
How has the global industrial gas generators market performed so far and how will it perform in the coming years?
What are the key regions in the global industrial gas generators market?
Which are the popular product types in the global industrial gas generators market?
What are the key end-use segments in the global industrial gas generators market?
What are the various stages in the value chain of the global industrial gas generators industry?
What are the key driving factors and challenges in the global industrial gas generators industry?
What is the structure of the global industrial gas generators industry and who are the key players?
What is the degree of competition in the global industrial gas generators industry?
How are industrial gas generators manufactured?
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