Summary

Global Natural Gas Generator Market is valued at approximately USD 7.94 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.4% over the forecast period 2023-2030. A natural gas generator also referred to as a gas-powered generator or gas genset is a device that converts natural gas into electricity. Natural gas must first be used in an internal combustion engine to provide mechanical energy, which an alternator or generator then uses to produce electrical energy to run a natural gas generator. These generators are frequently utilized as primary power sources in distant areas where grid energy is unreliable or unavailable, or as backup power sources in residential, commercial, and industrial settings. They also provide electricity during power outages. When compared to diesel or gasoline generators, natural gas generators are preferred because their combustion results in reduced emissions of pollutants such as carbon dioxide (CO2), nitrogen oxides (NOx), and particulate matter. In addition, compared to other fuels, natural gas is usually more readily accessible and less expensive, which makes natural gas generators a popular option for a variety of applications. The Natural Gas Generator Market is expanding because of factors such as the growing concern over the degradation of the environment, the imposition of stricter emissions regulations, and the rise in initiatives to promote the use of cleaner fuels.

In addition, the rapid growth in natural gas production to fulfill energy needs is acting as a catalyzing factor for market growth across the globe. Natural gas is playing a pivotal role in the reduction of greenhouse gas emissions, given its cleaner combustion compared to traditional fuels. Over the past years, natural gas production has surged significantly, bolstered by robust policies supporting sustainable development. According to Statista, in 2020 natural gas production worldwide was 3,861.5 billion cubic meters, and in 2022 natural gas production reached 4,089 billion cubic meters. This surge in production ensures a steady and ample fuel supply for generators, making them a reliable and cost-effective power solution. Additionally, the environmental benefits of natural gas, along with supportive government policies and technological advancements in generator technology, further propel market growth. Thus, these aforementioned factors are propelling the growth of the Natural Gas Generator Market during the estimated period. Moreover, the growing investment in sustainable energy development, as well as the rising advancements in natural gas generator technology, present various lucrative opportunities over the forecast years. However, the limited reserves of natural gas and high initial investment required for natural gas gensets in comparison to diesel gensets are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Natural Gas Generator Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the significant presence of leading gas genset OEMs and EPC players, extensive shale gas reserves, and well-established infrastructure for natural gas transportation. Also, factors such as abundant shale gas reserves and the government's increasing emphasis on promoting clean energy initiatives further contribute to the regional market growth. Whereas Asia Pacific is expected to grow at the highest CAGR over the forecast years. The Asia Pacific market is propelled by the necessity for reliable backup power systems. The robust growth of the industrial sector in China, India, Japan, and South Korea has spurred the demand for industrial generator sets across the region. Moreover, various government initiatives are fostering industrial development, which is forecasted to boost the demand for gas generator sets in industrial applications in the anticipated years.

Major market players included in this report are:
Caterpillar Inc.
Cummins Inc.
Generac Holdings Inc.
Mitsubishi Heavy Industries, Ltd.
Kohler Co., Inc.
General Electric Company
MTU Onsite Energy GMBH
Mahindra Powerol Ltd.
Yanmar Co., Ltd.
Cooper Corp.

Recent Developments in the Market:
 In April 2024, Caterpillar Inc. unveiled the Cat DG450 Compact natural gas generator set, offering a 450 kW ultra-low NOx power solution tailored for non-emergency applications in regions designated by the U.S. Environmental Protection Agency (EPA). This latest addition to Caterpillar's lineup of natural gas-powered solutions enables customers to participate in energy market programs, providing flexibility and versatility in generating power as required.

Global Natural Gas Generator Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Power Rating, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
 Customization Scope - Free report customization (equivalent to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Power Rating:
Low Power Gensets
Medium Power Gensets
High Power Gensets

By Application:
Industrial
Commercial
Residential

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Table of Contents

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Natural Gas Generator Market, by Region, 2020-2030 (USD Billion)
1.2.2. Natural Gas Generator Market, by Power Rating, 2020-2030 (USD Billion)
1.2.3. Natural Gas Generator Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Natural Gas Generator Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Natural Gas Generator Market Dynamics
3.1. Natural Gas Generator Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Growing Concern over Degradation of Environment
3.1.1.2. Rising Growth in Natural Gas Production to Fulfill Energy Needs
3.1.2. Market Challenges
3.1.2.1. Limited Reserves of Natural Gas
3.1.2.2. High Initial Investment Required for Natural Gas Gensets in Comparison to Diesel Gensets
3.1.3. Market Opportunities
3.1.3.1. Growing Investment in Sustainable Energy Development
3.1.3.2. Rising Advancements in Natural Gas Generator Technology
Chapter 4. Global Natural Gas Generator Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Natural Gas Generator Market, by Power Rating
5.1. Market Snapshot
5.2. Global Natural Gas Generator Market by Power Rating, Performance - Potential Analysis
5.3. Global Natural Gas Generator Market Estimates & Forecasts by Power Rating 2020-2030 (USD Billion)
5.4. Natural Gas Generator Market, Sub Segment Analysis
5.4.1. Low Power Gensets
5.4.2. Medium Power Gensets
5.4.3. High Power Gensets
Chapter 6. Global Natural Gas Generator Market, by Application
6.1. Market Snapshot
6.2. Global Natural Gas Generator Market by Application, Performance - Potential Analysis
6.3. Global Natural Gas Generator Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Natural Gas Generator Market, Sub Segment Analysis
6.4.1. Industrial
6.4.2. Commercial
6.4.3. Residential
Chapter 7. Global Natural Gas Generator Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Natural Gas Generator Market, Regional Market Snapshot
7.4. North America Natural Gas Generator Market
7.4.1. U.S. Natural Gas Generator Market
7.4.1.1. Power Rating breakdown estimates & forecasts, 2020-2030
7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Natural Gas Generator Market
7.5. Europe Natural Gas Generator Market Snapshot
7.5.1. U.K. Natural Gas Generator Market
7.5.2. Germany Natural Gas Generator Market
7.5.3. France Natural Gas Generator Market
7.5.4. Spain Natural Gas Generator Market
7.5.5. Italy Natural Gas Generator Market
7.5.6. Rest of Europe Natural Gas Generator Market
7.6. Asia-Pacific Natural Gas Generator Market Snapshot
7.6.1. China Natural Gas Generator Market
7.6.2. India Natural Gas Generator Market
7.6.3. Japan Natural Gas Generator Market
7.6.4. Australia Natural Gas Generator Market
7.6.5. South Korea Natural Gas Generator Market
7.6.6. Rest of Asia Pacific Natural Gas Generator Market
7.7. Latin America Natural Gas Generator Market Snapshot
7.7.1. Brazil Natural Gas Generator Market
7.7.2. Mexico Natural Gas Generator Market
7.8. Middle East & Africa Natural Gas Generator Market
7.8.1. Saudi Arabia Natural Gas Generator Market
7.8.2. South Africa Natural Gas Generator Market
7.8.3. Rest of Middle East & Africa Natural Gas Generator Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Caterpillar Inc.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Cummins Inc.
8.3.3. Generac Holdings Inc.
8.3.4. Mitsubishi Heavy Industries, Ltd.
8.3.5. Kohler Co., Inc.
8.3.6. General Electric Company
8.3.7. MTU Onsite Energy GMBH
8.3.8. Mahindra Powerol Ltd.
8.3.9. Yanmar Co., Ltd.
8.3.10. Cooper Corp
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption