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The Gas Generator Sets Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Gas Generator Sets is the increasing demand for Gas Generator Sets in various industries.
This report on the Gas Generator Sets Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Gas Generator Sets Market. The report intends to present a thorough analysis of the Gas Generator Sets Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Gas Generator Sets Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Gas Generator Sets Market are-
Briggs & Stratton
Caterpillar
Cooper Corp.
Cummins Inc.
Generac Power Systems, Inc.
GENMAC
HIMOINSA
MAHINDRA POWEROL
Rolls-Royce Power Systems AG
SDMO Industries.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Gas Generator Sets Market value and growth drivers over the trend period of 2022-27. According to the report -
Gas Generator Sets Market is likely to witness a steady CAGR of more than 8% during the forecast period. This is primarily because of the low operating costs of gas generator sets, increasing natural gas production, government’s stringency on environmental norms and compliances, along with the growing focus on energy efficiency and cleaner fuel sources.
Based on Power Rating Type:
Based on the power rating type, the market is segmented into <75 kVA, 75-375 kVA, 375-750 kVA, and >750 kVA. Among these power ratings, the <75 kVA capacity generator sets are estimated to account for substantial share of the market during the forecast period, on account of their increasing demand from small scale industries, restaurants and cafes, and residential and commercial sectors. These generator sets witness large sales due to their low prices and large requirement. They help in offering power backup during power outages and power connections across the rural areas, with limited power access.
Based on Region:
In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. Among these regions, Asia-Pacific is expected to be dominant throughout the forecast period. The market growth in this region is majorly attributed to the growing number of infrastructure development projects, increasing gap between demand and supply, expansion and development of manufacturing facilities of various industries, and the large number of commercial offices and technology parks across the region.
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