Asia Pacific Natural Gas Generator Market Size & Outlook
Asia Pacific natural gas generator market, 2018-2030 (US$M)
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Asia Pacific natural gas generator market highlights
- The Asia Pacific natural gas generator market generated a revenue of USD 1,700.0 million in 2021.
- The market is expected to grow at a CAGR of 13.9% from 2022 to 2030.
- In terms of segment, low power gensets was the largest revenue generating power rating in 2021.
- Medium Power Gensets is the most lucrative power rating segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2022 to 2030.
Asia Pacific data book summary
| Market revenue in 2021 | USD 1,700.0 million |
| Market revenue in 2030 | USD 5,474.5 million |
| Growth rate | 13.9% (CAGR from 2021 to 2030) |
| Largest segment | Low power gensets |
| Fastest growing segment | Medium Power Gensets |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low Power Gensets, Medium Power Gensets, HighPower Gensets |
| Key market players worldwide | Caterpillar Inc, Cummins Inc, Generac Holdings Inc, Mitsubishi Heavy Industries Ltd, Kohler, GE Aerospace, MTU Onsite Energy, Mahindra & Mahindra Ltd DR |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 23.8% of the global natural gas generator market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 5,474.5 million by 2030.
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Natural Gas Generator Market Scope
Natural Gas Generator Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific natural gas generator market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to natural gas generator market will help companies and investors design strategic landscapes.
Low power gensets was the largest segment with a revenue share of 44.63% in 2021. Horizon Databook has segmented the Asia Pacific natural gas generator market based on low power gensets, medium power gensets, highpower gensets covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific market is driven by the need for efficient back-up power systems. High growth of industrial sector in China, India, Japan, and South Korea has triggered the demand for industrial generator sets in the region.
This can also be attributed to the fact that generator sets are used on a large scale in manufacturing facilities for stand-up operations. In India, government initiatives are encouraging industrial establishments in the country, which is anticipated to drive the demand for gas generator sets in industrial applications over the forecast period.
Generator set industry in India is inclined toward diesel as a raw material. However, governmental regulations to curb carbon emissions caused by burning of diesel coupled with shifting focus of the government toward the use of cleaner sources for power generation are expected to drive the demand for natural gas gensets over the forecast period.
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Our clientele includes a mix of natural gas generator market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific natural gas generator market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific natural gas generator market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific natural gas generator market size, by country, 2018-2030 (US$M)
Asia Pacific Natural Gas Generator Market Outlook Share, 2021 & 2030 (US$M)
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