Market Size of North America Gas Generator Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 4.93 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Gas Generator Market Analysis
The North American gas generator market is expected to witness a CAGR of more than 4.93% during the forecast period.
The market was negatively impacted by COVID-19. However, it has now reached pre-pandemic levels.
- 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, decreasing natural gas fuel prices, and the general desire to be more environmentally responsible have supplemented the demand for gas generators.
- On the other hand, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a challenging factor for the gas generator market in the coming years.
- Nevertheless, the commercial and industrial sectors, the residential sector of the region, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
- The United States is expected to be the largest market during the forecast period for gas generators. With the falling cost of natural gas, the usage of natural gas across the residential sector and commercial sectors is expected to increase, in turn, driving the demand for natural gas generators during the forecast period.
