North America Natural Gas Generator Market Size & Outlook
North America natural gas generator market, 2018-2030 (US$M)
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North America natural gas generator market highlights
- The North America natural gas generator market generated a revenue of USD 2,181.8 million in 2021.
- The market is expected to grow at a CAGR of 10.6% 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, U.S. is expected to register the highest CAGR from 2022 to 2030.
North America data book summary
| Market revenue in 2021 | USD 2,181.8 million |
| Market revenue in 2030 | USD 5,422.4 million |
| Growth rate | 10.6% (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, North America region accounted for 30.6% 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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North America 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 42.45% in 2021. Horizon Databook has segmented the North America 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.
North America, led by the U.S., Mexico, and Canada, accounted for nearly 31.44%of the global natural gas generator set market share in 2018. The presence of prominent gas generator set OEMs and EPC players, enough shale gas reserves, and developed infrastructure for transportation of natural gas have emerged as the primary driving factors for North America natural gas generator set market.
The U.S. accounted for the largest share of North America natural gas genset market in 2018 and is anticipated to progress at the fastest growth rate in North America over the forecast period owing to various factors such as the presence of shale gas reserves and increasing government focus on developing clean energy sources.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America natural gas generator market , including forecasts for subscribers. This continent databook contains high-level insights into North America natural gas generator market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America natural gas generator market size, by country, 2018-2030 (US$M)
North America Natural Gas Generator Market Outlook Share, 2021 & 2030 (US$M)
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