Market Size of Gas Generator Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gas Powered Generator Market Analysis
The gas generator market is estimated to be at USD 5.95 Billion by the end of this year and is projected to reach USD 7.57 billion in the next five years, registering a CAGR of over 4.95% during the forecast period.
- Over the medium term, factors such as increasing awareness regarding natural gas as a clean and reliable fuel, increased concerns over diesel maintenance and refueling issues, and decreasing natural gas fuel prices will likely drive the gas generator market in the forecast period.
- On the other hand, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a restraining factor to the gas generator market during the forecast period.
- Nevertheless, the commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants during the forecast period.
- North America is expected to be the largest market during the forecast period for gas generators, with most of the demand expected to come from the United States and Canada.
