The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Surging energy demand from various end-use sectors is likely to boost innovation in natural gas generator production, propelling the market over the forecast period.

The global natural gas generator market is expected to grow from $6.93 billion in 2022 to $7.56 billion in 2023 at a compound annual growth rate (CAGR) of 9.04%. The global natural gas generator market size is expected to reach $10.46 billion in 2027 at a CAGR of 9.52%.

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Global Natural Gas Generator Market Segments Include:

• By Type: Standby, Prime
• By Power Rating: Low Power Genset, Medium Power Genset, High Power Genset
• By Phase: Single Phase, 3 Phase
• By Material: Aluminum, Composite, Steel
• By End User: Industrial, Commercial, Residential
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global natural gas generator market in 2021.

Major Market Players in the natural gas generator market include Caterpillar Inc., Generac Power System, Cummins Inc., General Electric, Kohler Co. Inc., Mahindra Powerol, MTU-onsite Energy GMBH, Yanmar Co. Ltd., Coopercorp Generators.

Investments are a prevalent trend in the natural gas generators market. To increase the industry, major firms in the natural gas generators market are focusing on investing in natural gas generator technologies and assets. Cummins Inc., a US-based maker of power generating products, for example, invested in 175kW and 200kW natural gas standby generator sets in February 2023. The generators include a tough 6-cylinder spark-ignited QSJ8.9G petrol engine for dependable power that responds quickly to load changes, the PowerCommand 2.3 control for automatic remote starting/stopping, precise frequency and voltage regulation, alarm and status message display, output metering with NFPA 110 Level 1 compliance, a standard cooling package that provides reliable running up to 122 degrees F, and an aesthetically appealing enclosure. National Pension Service (NPS), a public pension fund located in South Korea, and Korean Teachers’ Credit Union (KTCU), a public pension fund based in South Korea for teachers, invested $390 million in Calpine Corp., a producer of natural gas generators based in the United States, in May 2022.

The Natural Gas Generator Global Market Report 2023  provides a natural gas generator market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The natural gas generator market forecast analyzes natural gas generator market size, natural gas generator market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A natural gas generator is a generator that runs on natural gas rather than fuel or diesel. In a natural gas generator, a mixture of fuel and air is injected into a combustion chamber to generate power.

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