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

As per The Business Research Company’s Gas Generator Sets Global Market Report 2023, the gas generator sets market is expected to show significant growth in the forecast period.

Key insights from the gas generator sets market forecast include:

1. Market Size

The global gas generator sets market grew from $8.36 billion in 2022 to $9.0 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The gas generator sets market is expected to grow to $11.98 billion in 2027 at a CAGR of 7.4%.

2. Major Driver

The rising global energy demand is projected to drive the growth of the gas generator sets market in the coming years. For instance, according to the International Energy Agency (IEA) Electricity Market Report July 2021, global electricity demand is estimated to grow by 5% during 2020-21, and 4% during 2021-22. China and India alone are estimated to account for 9% of global growth. Therefore, the increase in energy consumption across the globe is driving the gas generator sets market.

View More On The Gas Generator Sets Market Report 2023 – https://www.thebusinessresearchcompany.com/report/gas-generator-sets-global-market-report

3. Key Trend

Product innovation is a significant trend that is gaining traction in the gas generator sets market. Many businesses in the gas generator sets market are introducing unique products with modern technology to increase their market position. For instance, in August 2022, Kirloskar Oil Engines Limited, an India-based sustainable and customer-centric solution provider operating in the gas generator sets market launched a gas-powered generator range. These IoT-enabled gas generators run efficiently even in extremely cold conditions on PNG and also offer a digital monitoring system that enables users to remotely monitor important parameters and the generator’s performance in real-time from anywhere, and the noise and emission levels are much lower than in a conventional generating set.

4. Major Players

Major players in the gas generator sets market are Cummins, Briggs & Stratton Corporation, Kohler, Generac Power Systems, Caterpillar, HIMOINSA, Mahindra Powerol, Genmac, Aggreko, Eaton, Champion Power Equipment, Cooper Corp, FIRMAN Power Equipment, Westinghouse Electric Corporation, and DuroMax Power Equipment.

5. Top Market Segments

The global gas generator sets market is segmented –

1) By Fuel Type: Natural Gas; Biogas; Other Fuel Types

2) By Power Rating: Less Than 50 kVA; 51 kVA – 125 kVA; 126 kVA – 200 kVA; 201 kVA – 330 kVA; 331 kVA – 750 kVA; Above 750 kVA

3) By Application: Standby; Peak Shaving; Prime/Continuous

4) By End-User: Residential; Industrial; Commercial; Power and Energy; Other End-Users

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The Gas Generator Sets Global Market Report 2023  provides an in-depth analysis on the market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

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Gas Generator Sets Global Market Report 2023

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