Gas genset consists of a gas engine and generator. The engine converts the chemical energy of a fuel to mechanical energy and this mechanical energy is used to spin the alternator rotor, thereby converting the mechanical energy to electrical energy. The alternator consists of two parts i.e. a rotor and stator. The various fuel includes natural gas, biogas, and others. The other components of genset are fuel day tank, basecamp, cooling system, and an enclosure, if needed. Gensets provide energy mostly in geographical areas which are not connected to power grid and in areas with frequent power outages. So, gensets can be used either as a main source of energy or as a supplementary source of power. The gas gensets are environment friendly and produces lower carbon, sulfur, and nitrogen emissions.

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Industry Segmentation

Global gas genset market has been segmented based on fuel, power rating, application, end-user, and region. Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas. The global gas genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and Above 1000 KVA. Based on application, the global gas genset market is segmented into standby, peak shaving, and continuous. Standby segment led the global gas genset market in 2017. The global gas genset market is segmented by end-user into industrial, residential, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period.

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Global gas genset market is expected to witness substantial growth during the forecast period owing to minimization of carbon footprint and availability of natural gas. North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the gas genset market in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the gas genset market owing to rising natural gas production in Southeast Asian countries in the region.

Key Players

The key players of global gas genset market are Caterpillar, Cummins, Wartsila, Siemens AG, GE, ABB, Genrac Power Systems, MTU Onsite Energy GmbH, PARAMAC, Himoinsa, and Sudhir Power. among others.

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