Economic Reliability Of Natural Gas Generators Is Set To Drive Its Demand

The global natural gas generator market is likely to exhibit a CAGR of 8.04% by 2024. The market is predominantly driven by rapid industrialization and increasing resilience against power outages in heavy industries across both small and big cities.  As commercialization and industrialization are gaining prominence, they now mandate uninterrupted supply of power and in turn has driven the demand for power backup solutions. 

The market is gaining traction due to the subsiding use of traditional petroleum and diesel generators.  Rising adoption of environment friendly solutions and green manufacturing practices of industries is stimulating market escalation. Furthermore, riding on the back of several physical properties exhibited by aluminum gas resets include its resistance against corrosion and all-weather protection have been regarded as a key proprietary factor. 

In order to minimize the emission of dangerous pollutants, several regulations and standards are being established by 	governments. For instance, the Clean Air Act enforced by United States federal law is a national attempt to reduce and control air pollution. As countries are dealing with challenges related to water quality, open space, air quality, and global climate change, the standardizations set in environmental economics are a key to providing cost-effective and efficient solutions. 
On the basis type, the market has been segmented into composite, aluminum, and steel. Based on the application/end-use type, the market categorization includes residential, commercial, and industrial.

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The U.S. Gain will be providing distribution and procurement of renewable natural gas (RNG) through a new Midwest Renewable Energy Tracking System (M-RETS) Renewable Thermal Certificate (RTC) platform. It validates several environmental attributes to validate renewable thermal claims. Aggreko has a 5-year agreement with the United Steel Industries to deliver highly efficient gas-battery hybrid power solution mainly in as-battery hybrid power solution and the installation of these gensets have already begun in January 2020. 

The regional segmentation includes North America, Asia Pacific, Europe, South America, and MEA. Asia Pacific is slated to experience lucrative growth over the projected timeframe. The rapid pace in urbanization specially in countries like India and China are propelling market growth. Industrialization and infrastructure development are among the other key reason for the region’s development. Europe is also witnessed to experience an accelerated growth, where Germany and U.K. have been identified as the main contributors to the region’s revenue generation.  

Some of the key market players comprise of Briggs & Stratton Corporation; Caterpillar Inc.; Cummins Inc.; Doosan Corporation; Generac Holdings Inc.; HIMOINSA S.L.; Kirloskar Oil Engines Ltd.; and Kohler Co., Inc., among many others. The industry players are expanding their global presence by increasing foreign acquisitions and product distribution. For instance, a recent project by Aggreko illustrates the emerging trend of hybrid power in the genset industry and their generators are to be delivered to the Middle East especially to the United Arab Emirates (UAE).