info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Gas Genset Market Trends

ID: MRFR//5828-HCR | 111 Pages | Author: Anshula Mandaokar| July 2024

Global Gas Genset Market Overview:


Gas Genset Market Size was valued at USD 11.3 Billion in 2023. The Gas Genset market industry is projected to grow from USD 11.87 Billion in 2024 to USD 16.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.44% during the forecast period (2024 - 2032). Increased investment, favourable government policies regarding emission standards and regulations, and the acceptance of gas generators as an energy source in both established and emerging economies, are the key market drivers enhancing the market growth.


Global Gas Genset Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Gas Genset Market Trends




  • The rising occurrence of power outages and power supply deficits globally is driving the market growth




The need for natural gas generators is being driven by the increasing frequency of power outages and power supply shortages around the world, as well as restrictions prohibiting the use of diesel gensets because of their high carbon emissions.


Globally expanding industrial and commercial facilities, including shopping centres, skyscrapers, universities, restaurants, district heating and cooling plants, office buildings, and others, are driving the demand for reliable electricity supply, which is driving the demand for gas gensets. Due to climate change-related natural disasters and extreme weather, there has been an increase in the need for backup power as an amenity in commercial, residential, and industrial structures. The need for generator sets in the US has been spurred by the country's abundant natural gas supply and well-established infrastructure for delivering it around the nation. The country's shale gas revolution has led to a rise in the popularity of gas generator sets over diesel generator sets, and this trend is anticipated to continue in the years to come.


One of the key factors anticipated to fuel worldwide market expansion is the acceptance rate of gas generators as an energy source to fulfil the rising electricity demand. The target market is additionally anticipated to grow as a result of increased investments and supportive governmental policies on emission standards and regulations in both developed and developing economies. Additionally, the availability of generators in a range of sizes and power outputs increases demand for generators, which is anticipated to drive growth in the gas generator market. On the other hand, technological advancements have increased the performance and capacity of generators, creating a lucrative opportunity for businesses in the future market. Two current industry developments that are anticipated to propel the market forward are the expanding popularity of gas generators and biofuel generators. Governments and regulatory agencies are enforcing stronger emission and pollution control rules, which will favourably impact the market for generator sets. The product deployment will be further fueled by the increased emphasis on cleaner energy sources in accordance with growing awareness of climate change. Additionally, the industry will grow as a result of the ongoing boom in unconventional gas resources, especially in the U.S. shale revolution and encouraged by legislative initiatives. Thus, driving the Gas Genset market revenue.


Gas Genset Market Segment Insights:


Gas Genset Fuel Insights


The Gas Genset market segmentation, based on Fuel, includes Natural Gas, Biogas, and Others. Natural gas segment dominated the market in 2022. This is due to consumers' growing demand for natural gas generator sets.


Gas Genset Power Rating Insights


The Gas Genset market segmentation, based on Power Rating, includes Upto 100 KVA, 100 to 350 KVA, 350-1000 KVA, and Above 1000 KVA. Upto 100 KVA segment dominated the market in 2022. The rising demand from the telecom, retail, and other commercial building and residential sectors is to blame for this. In the telecommunications industry, commercial buildings, small restaurants, small-scale enterprises, and gas stations, gas generators up to 100 KVA are commonly used as backup power in grid-connected locations and as the primary power source in off-grid areas.


Gas Genset Application Insights


The Gas Genset market segmentation, based on Application, includes Standby, Peak Shaving, and Continuous. Standby segment dominated the Gas Genset market in 2022. Commercial buildings heavily rely on standby gas generator sets for backup power during outages or as a primary power source in areas with unstable grid infrastructure, including offices, hotels, retail outlets and healthcare institutions.


Gas Genset End User Insights


The Gas Genset market segmentation, based on End User, includes Industrial, Commercial, and Residential. Commercial segment dominated the Gas Genset market in 2022. Due to the need of continuous power supply for uninterrupted operations, protection of priceless assets, and the requirement to assure customer satisfaction, the commercial sector has a strong demand for gas generator sets. The domination of this industry demonstrates the substantial market opportunity for suppliers of gas generator sets to the needs of the business sector.


Figure 1: Gas Genset Market, by End User, 2024 & 2032 (USD Billion)


Gas Genset Market, by End User, 2022 & 2032 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Gas Genset Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Gas Genset Market dominated this market in 2022 (45.80%). There are a number of distinctive regional trends and causes that contribute to this dominance. There is a sizable population in North America, a high level of living, and a big focus on indoor comfort. The need for gas gensets is driven by these elements. Further, the U.S. Gas Genset market held the largest market share, and the Canada Gas Genset market was the fastest growing market in the North America region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: Gas Genset Market Share By Region 2022 (USD Billion)


Gas Genset Market Share By Region 2022 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Gas Genset market accounted for the healthy market share in 2022. The Europe market demonstrates various geographical trends and variables that support its expansion. Europe is renowned for its emphasis on environmental sustainability and energy efficiency. Gas gensets that comply with local environmental initiatives and legislation are in high demand as a result of this emphasis. Further, the German Gas Genset market held the largest market share, and the U.K Gas Genset market was the fastest growing market in the European region


The Asia Pacific Gas Genset market is expected to register significant growth from 2023 to 2032. This development is a result of several distinctive geographical tendencies. The gas genset market also reflects Asia Pacific's reputation for technological developments and an innovation-driven society. When choosing a gas genset, Asian consumers place a premium on cutting-edge technologies like smart functionality and lot integration. Moreover, China’s Gas Genset market held the largest market share and the Indian Gas Genset market was the fastest growing market in the Asia-Pacific region.


Gas Genset Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Gas Genset market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Gas Genset industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Gas Genset industry to benefit clients and increase the market sector. In recent years, the Gas Genset industry has offered some of the most significant advantages to medicine. Major players in the Gas Genset market, including Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power, are attempting to increase market demand by investing in research and development Fuels.


Manufacturer of construction, transportation, and energy equipment is Caterpillar Inc. Construction and mining equipment, industrial gas turbines, forestry equipment, diesel-electric locomotives, and diesel and natural gas engines are among the products it designs, produces, markets, and sells. Asphalt pavers, backhoe loaders, compactors, draglines, integrated systems, reciprocating engines, and many other items are among the company's product offerings. Additionally, Caterpillar provides consumers and dealers with retail and wholesale financing options for Caterpillar equipment. The company markets and distributes its products in a number of nations throughout North and South America, Asia-Pacific, the Middle East, Africa, and Europe through its subsidiaries and dealers. The US city of Deerfield, Illinois, serves as the headquarters of Caterpillar.


Power and propulsion systems are designed, developed, and produced by Rolls-Royce Holdings plc (Rolls-Royce). The business offers nuclear reactors, big commercial aircraft, unmanned aerial vehicle engines, helicopter and aircraft engines, and combat jet engines. Additionally, it creates, produces, and sells undersea nuclear power plants, compact modular reactors, and innovative electrical power solutions. The markets that Rolls-Royce serves include those for civil and defence aerospace, naval, submarine, land, defence services, cutting-edge technology, marine, electricity, and nuclear energy. The MTU brand is used by the corporation to sell its products. Its business operations are spread out over the continents of Africa, the Middle East, Asia, and the Americas. London, England, is home to the Rolls-Royce corporate headquarters.


Key Companies in the Gas Genset market include



  • Caterpillar

  • Cummins

  • Wartsila

  • Siemens AG

  • GE

  • ABB

  • Genrac Power Systems

  • MTU Onsite Energy GmbH

  • PARAMAC

  • Himoinsa

  • Sudhir Power


Gas Genset Industry Developments


Cummins Inc., in February 2023, added two types of natural gas standby generator sets, which are 175kW and 200kW, for its North American customers. The new sets are part of Cummins's commitment to invest in new and renewable technology as part of its corporate strategy of Destination Zero, through which it seeks to achieve zero emissions across all its products. 


These new generators offer a power density unrivaled by any other product in the industry. They have been engineered to deliver exceptional performance and reliability consistently required by customers for their power needs.


In July 2022, Sterling Generators announced a strategic partnership with Moteurs Baudouin, the French manufacturer of diesel and gas engines for power generation purposes. This venture will exploit Sterling Generators fuel-efficient auxiliary units cleverly designed for maximum efficiency coupled with Baudouin being recognized for producing high-quality diesel and gas engines over the years.


Due to the increasing severity of air emission standards in America and environmental advantages, gas generators are expected to be in very high demand, as opposed to diesel generators, which are more regarded as polluting sources.


In January 2022, the Cat G3516 Fast Reaction generator set was introduced by Caterpillar Inc., which adds a 1.5 MW power node into an expanded range of natural-gas-driven solutions having market-leading load acceptance, transient response, as well as EPA certification for critical mission operations.


Rolls-Royce, in conjunction with its distribution partner Knopf & Wallisch (K&W), made three deliveries of customized and containerized combined cooling, heat and power plants (CCHP) trigeneration units, powered by MTU, to Cluster Power – a Romanian cloud services provider, in January 2022.


Toho Gas and MHIET, in August 2021 jointly tested the mixed-fuel combustion of city gas and hydrogen in a commercial gas engine for a cogeneration system.


October 2021: The MDE330 and MDE570 diesel mobile generators, two new large diesel units from Generac that are easy to use and maintain, have been released. The rental-ready machines come with wide-opening detachable doors to improve serviceability.


August 2021: Successful Mixed-fuel Combustion of City Gas and Hydrogen in a Commercial Gas Engine for a Cogeneration System Test Operation by Toho Gas and MHIET.


March 2021: Released by Cummins Power Systems is the C2750D5BE. The new model complements the existing QSK60 series by increasing the standby power range for 50Hz markets from 2500kVA to 2750kVA.  


Gas Genset Market Segmentation


Gas Genset Fuel Outlook



  • Natural Gas

  • Biogas

  • Others


Gas Genset Power Rating Outlook



  • Upto 100 KVA

  • 100 to 350 KVA

  • 350-1000 KVA

  • Above 1000 KVA


Gas Genset Application Outlook



  • Standby

  • Peak Shaving

  • Continuous


Gas Genset End User Outlook



  • Industrial

  • Commercial

  • Residential


Gas Genset Regional Outlook



  • North America

    • U.S.

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.