Global Low and Medium Capacity Gas Generator Market 2019-2023
About this market
The growth in demand for gas generators, while the demand for diesel generators witnessed a slump. Gas generators run on a clean fuel source (natural gas, CNG, and LPG). They are refilled using gas pipelines coming from utilities, unlike diesel that needs to be stored, maintained properly, and refilled. The use of gear-on-gear powertrains and other engine advances has increased their overall performance and power. Other design upgrades such as the use of stronger, more resilient engine parts, such as hardened valves and seats, have also contributed to the performance of gas generators. Gas generators are preferred for use in the commercial and residential sector. Improvements in gas generator design and production, the plummeting cost of natural gas, and new regulations that prohibit sooty, noisy engines and on-site fuel storage have made natural gas generators popular. Technavio’s analysts have predicted that the low and medium capacity gas generator market will register a CAGR of over 8% by 2023.
Expanding natural gas pipeline networks
The production and consumption of natural gas are increasing. The emergence of cross-country and multi-country pipelines will increase the demand for natural gas during the forecast period. Pipelines of various sizes are used to transfer gas domestically and internationally. The number of natural gas pipeline projects is increasing, especially in developing countries such as India. This will be driven by the demand for natural gas and the focus on the adoption of natural gas for power generation for prime and backup power generation.
Volatility in natural gas prices
Gas involves a complex value chain from its production to distribution and the supply and demand in the oil and gas industry. This makes forecasting the accurate prices very difficult. The prices of natural gas have experienced several peaks and troughs in the last decade. making it a very unstable commodity. The fluctuations in the prices of natural gas have vaguely been following a trend. which is called crude oil price cycle. However, it is difficult to predict with certainty when the price of crude oil will rise or fall.
For the detailed list of factors that will drive and challenge the growth of the low and medium capacity gas generator market during the 2019-2023, view our report.
The low and medium capacity gas generator market appears to be highly concentrated due to the presence of very few companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook