Gas Gensets Market - Global Industry Analysis, Growth, Trends and Forecast 2016 – 2024

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Gas Gensets Market - Global Industry
Analysis, Size, Share, Growth, Trends
and Forecast 2016 - 2024
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REPORT DESCRIPTION
Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Gas Gensets
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024” This report likewise
incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide
business sector industry structure.
Gas gensets is a reciprocating internal combustion engine that is used across the globe for distributed power production. Gas
gensets employ natural gas to power generators and produce electricity. Currently, the market for gensets is dominated by
diesel gensets. Diesel is used to fuel the generators; however, many countries have laid several norms to regulate the high
levels of harmful emissions from diesel powered gensets. This is expected to positively influence the global gas gensets market
in the near future. Demand for gas gensets is driven by the widening electricity demand-supply gap, rising industrialization, low
operational cost, and rising carbon emissions. Gas gensets are broadly used in various end-user segments such as
pharmaceutical & health care industries, communication & transportation systems, landfill sites, and manufacturing & water
treatment facilities as a back-up power source during grid failure or power outages. The gas gensets market is expected to
expand at a healthy pace in the near future due to the rise in environmental concerns, increase in awareness about greenhouse
gas emissions, and volatility in the oil & gas market.
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The gas gensets market can be classified into two segments: application and geography. On the basis of application, the gas
gensets market can be divided into standby power, primary power, and peak shaving. Many developed regions, where electricity
outages are less frequent, use gas gensets for standby power. On the other hand, many developing regions where electricity
demand is very high and power cuts are more common, gas gensets are used as the primary power supply, particularly in
hospitals. Gas gensets also allow companies to lower expenses, as these may be deployed when the price of electricity is very
high. Gensets can be configured easily to form multiple-unit power plants and the product range is suitable for a variety of
business applications, regardless of location. The in-built heat-recovery process gives it competitive advantage over others,
which eliminates the need for additional power required to drive the cooling system and thus increasing overall efficiency.
The gas gensets market can also be segmented on the basis of geographical regions. North America is one of the rapidly
growing regions for the gas gensets market. The market is dominated by the U.S. due to the tremendous growth in the
production of natural gas and shale gas. The region has seen a steep decline in natural gas prices. Strong opportunity for growth
exists in the next few years in the developing economies of Asia Pacific owing to the rapid globalization in countries such as
Japan, China, and India. The poor distribution and management of power grids, leading to a rise in power outages, in developing
economies is expected to continue to remain a major factor in boosting the demand for gas powered generators in Asia Pacific.
Europe also accounts for a large share of the gas gensets market. Gas gensets are mainly used as standby power sources in the
region. Major players operating in the gas gensets market are largely focusing on the developing economies for their immense
market potential. Competition from diesel powered gensets is likely to be stiff due to their reliability and low maintenance cost,
however the increasing use of eco-friendly fuels amid the growing restriction and regulations by governments, the global gas
gensets market is expected to experience remarkable growth in the next eight years.
Major players operating in the gas gensets market include Caterpillar, General Electric Company, Cummins, Dresser-Rand, MTU
Onsite Energy GmbH, Generac Power Systems, and Wartsila.
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The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by
tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely
scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but
not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
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Key market segments and sub-segments
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Evolving market trends and dynamics
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Changing supply and demand scenarios
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Quantifying market opportunities through market sizing and market forecasting
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Tracking current trends/opportunities/challenges
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Competitive insights
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Opportunity mapping in terms of technological breakthroughs
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