U.S. Natural Gas Generator Market Size & Outlook
U.S. natural gas generator market, 2018-2030 (US$M)
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U.S. natural gas generator market highlights
- The U.S. natural gas generator market generated a revenue of USD 1,682.6 million in 2021 and is expected to reach USD 4,284.3 million by 2030.
- The U.S. market is expected to grow at a CAGR of 10.9% 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.
Natural gas generator market data book summary
| Market revenue in 2021 | USD 1,682.6 million |
| Market revenue in 2030 | USD 4,284.3 million |
| Growth rate | 10.9% (CAGR from 2021 to 2030) |
| Largest segment | Low power gensets |
| Fastest growing segment | Medium Power Gensets |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 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, U.S. accounted for 23.6% of the global natural gas generator market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. natural gas generator market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 4,284.3 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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U.S. 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 42.65% in 2021. Horizon Databook has segmented the U.S. 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.
The demand for natural gas genset in the U.S. is projected to grow in coming years due to increased demand for backup power system to ensure uninterrupted power supply to important facilities such as data centers and hospitals that require 24/7 electric supply.
Moreover, growing industrial and commercial facilities such as shopping malls, high rises, universities, restaurants, district heating and cooling plants, refineries, office buildings, and others in the U.S. are driving the demand for uninterrupted electricity supply to expand businesses and perform operations efficiently.
Natural calamities and worsening weather conditions due to climate change have resulted in prolonged power cuts, which is driving the demand for back-up power as an essential amenity in commercial, residential, and industrial establishments.
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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 country-level data and insights on the U.S. natural gas generator market , including forecasts for subscribers. This country databook contains high-level insights into U.S. natural gas generator market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. natural gas generator market size, by power rating, 2018-2030 (US$M)
U.S. Natural Gas Generator Market Outlook Share, 2021 & 2030 (US$M)
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