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Commercial Gas Gensets Market Trends

Report ID: GMI9543
Published Date: May 2024
Report Format: PDF

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Commercial Gas Gensets Market Trends

The industry is experiencing significant growth on account of its efficient fuel efficiency and lower operating costs compared to traditional diesel gensets. Ongoing advancements in generator sets comprising of engine efficiency, advanced controls systems, and digital monitoring systems will energize the product penetration across emerging economies. The availability and accessibility of natural gas infrastructure are expanding globally, driven by increasing natural gas production and investment in pipeline networks and liquefied natural gas (LNG) terminals have led the demand for these units.

Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

Commercial gas genset industry size was USD 3.3 billion in 2023 and is projected to expand at 9.3% CAGR from 2024 to 2032, due to the increasing stringent environmental standards along with the transition toward cleaner energy sources.

The ? 50 kVA power rating segment in the commercial gas genset industry is projected to exceed USD 1 billion by 2032, led by the growing demand for small-scale backup power solutions among commercial establishments including small businesses, retail stores, restaurants, and offices.

The standby segment in the commercial gas genset industry is projected to record over 8% CAGR between 2024 and 2032, on account of the growing demand for reliable standby power solutions in line with expansion of commercial establishments including data centers, hospitals, financial institutions, and telecommunications facilities.

Asia Pacific commercial gas genset industry will record more than USD 3.5 billion by 2032, owing to the growing demand for reliable power solutions in commercial sectors comprising of manufacturing, healthcare, telecommunications, data centers, and hospitality.