Gas Genset Market Research Report ‚Äď Global Forecast till 2030

Gas Genset Market Research Report Information by Fuel (Natural Gas, Biogas, Others), Power Rating (Up to 100 KVA, 100-350 KVA, 350-1000 KVA, Above 1000 KVA), Application (Standby, Peak Shaving, Continuous), End-User and Region - Global Forecast till 2030

ID: MRFR/E&P/5828-HCR | 111 Pages | Published By Anshula Mandaokar on April 2023         

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Gas Genset Market Scenario


Gas Genset Market is expected to grow at 5.00 % CAGR during the forecast period 2022-2030.  


Gas gensets are reciprocating internal combustion engines used across the globe for distributed power production. Diesel gensets have been experiencing the maximum global demand. Diesel fuels the functions of a generators. But, many countries have laid several norms with an outlook for regulating the high levels of harmful emissions from diesel-powered gensets. It is expected to influence the global gas gensets market shortly positively.The demand trends for gas gensets are driven by the widening electricity demand-supply gap, rising industrialization, low operational cost, and rising carbon emissions. They are used in various end-user segments such as pharmaceutical & health care industries, communication & transportation systems, landfill sites, and manufacturing & water treatment facilities as a backup power source during grid failure or power outages. The gas gensets market is expected to expand at a healthy pace shortly due to the rise in environmental concerns, increased awareness about greenhouse gas emissions, and volatility in the oil & gas market.


Rising carbon emissions, low operational cost, and more efficiency of gas genset compared to diesel genset are the factors expected to drive the global gas genset market. The annual carbon emissions remained stable from 2014 to 2016. But emissions grew by 1.6% in 2017. So, rising carbon emissions are expected to drive the gas genset market during the forecast period. The factors such as increasing electricity demand-supply gap and carbon emission reduction targets globally are expected to offer promising business opportunities to the global gas genset market. Both developed and developing countries are planning to reduce carbon emissions. For instance, carbon emission reduction targets of US are 25 to 31% reduction by 2030 compared to 1990 levels. Similarly, targets for Japan are 38% to 48%, for Canada are 26% to 41%, and 14 to 27% for Russia. The targets for developing countries include 19% to 34% for China, 30% to 37% for Mexico, 12% to 21% for Indonesia, 13% to 17% for India, 32% to 49% for Brazil, and 12% to 21% for Indonesia by 2030 compared to 1990 levels.


Key Players


The key players of global gas genset market are Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power. among others. 


Recent Developments



  • Anticipations regarding the market can be attributed to growing pipeline infrastructure and increasing awareness about gas being a cleaner fuel. The poor distribution and management of power grids that lead to a rise in power outages in developing economies are expected to significantly boost the demand for gas-powered generators in the Asia Pacific. Gas gensets are mainly used as standby power sources in Europe. Major players operating in the gas gensets market mainly focus on developing economies for their immense market potential.

  • The Indian Gas Genset Market is projected to gain popularity in the coming timeframe due to the country's rising need for uninterruptible power supply source systems. The Indian Gas Genset Market is experiencing extensive growth due to the accelerating use of gas gensets in rural areas for parties and religious programs, and as in India, rural areas attain less electricity access where gas Genset plays a significant role in providing adequate electricity access during power outages.


Market Segmentation


Global gas genset market has been segmented based on fuel, power rating, application, end-user, and region. Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas. The global gas genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and Above 1000 KVA.  Based on application, the global gas genset market is segmented into standby, peak shaving, and continuous.  Standby segment led the global gas genset market in 2017. The global gas genset market is segmented by end-user into industrial, residential, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period. Gas genset market


Global gas genset market


Global gas genset market is expected to witness substantial growth during the forecast period owing to minimization of carbon footprint and availability of natural gas. North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the gas genset market in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the gas genset market owing to rising natural gas production in Southeast Asian countries in the region.   



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 16000.00 Million
  CAGR   5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Fuel , Power Rating and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power
  Key Market Opportunities Increasing electricity demand-supply gap Carbon emission reduction targets globally
  Key Market Drivers Rising carbon emissions low operational cost More efficiency of gas genset


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Frequently Asked Questions (FAQ) :

The rising carbon emissions, low operational cost, and more efficiency of gas genset compared to diesel genset are the factors driving the global gas genset market.

Global gas genset market’s segments are listed as fuel, power rating, application, end-user,

5% is the CAGR of the company.

Asia-Pacific is the region that offers promising business opportunities in the gas genset market.

Cummins, Wartsila, Caterpillar, GE, ABB, Genrac Power Systems, Siemens AG, PARAMAC, Himoinsa, MTU Onsite Energy GmbH, and Sudhir Power are the key players.