The demand for gas Genset is primarily generated from power plants, oil & gas fields, and manufacturing industries. This has been primarily due to substantial investment in manufacturing industries and power plants. Furthermore, growing environmental concerns and stringent emission regulations for using diesel Genset as the primary source of power backup has driven the demand for gas Genset during the past few years.
According to 6Wresearch, North America Gas Genset market is projected to grow at a CAGR of 5.4% during 2018-24. Growing electricity demand with rising population, industrialization, the low operational cost of gas Genset as well as growing demand for clean and reliable power supply and expansion of gas pipeline infrastructure in the United States, Canada, and Mexico would drive the growth of gas Genset market in the North America region. Moreover, high power losses in many North American countries due to increasing frequency of grid failures on account of inability to sustain amplified demand load and high susceptibility to extreme weather conditions would also augment the growth of the gas Genset market in the region. Additionally, upcoming projects such as Google Data Centre, Mountain Valley Pipeline Project, and Eagle Ford Shale would further drive the demand for gas gensets in the region.
The United States captured the majority of the revenue share in the North America gas Genset market followed by Canada, on account of rapid deployment of prime power gas gensets in the industrial and power generation sector, while the residential and commercial sectors would drive the growth of standby gas gensets. Further, increasing the adoption of environment-friendly solutions, a rise in green manufacturing practices of industries, and increasing disposable income of the population are some of the key factors driving the growth of the gas Genset market in the region.
The report comprehensively covers the North America Gas Genset Market by kVA ratings, applications, verticals, and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics. North America Gas Genset market expansion in the manufacturing sector and growing electricity demand and developing gas Genset market in a few years. There are many factors increasing the awareness of the gas Genset market such as increasing awareness of gas Genset, high power demand, more severe and unpredictable power outages due to the extremely bad weather conditions increase in the demand of the gas Genset in the forecast period. Growing in the demand for electricity due to rising in the population the low operational cost of gas Genset.
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Key Highlights of the Report:
- Historical Data of North America Gas Genset Market Revenues for the Period 2014-2017.
- Market Trends and Developments.
- Players Market Share and Competitive Landscape
- Company Profiles
- Market Size & Forecast data of North America Gas Genset Market Revenues until 2024.
- Market Drivers and Restraints.
- Strategic Recommendations
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