Implementation of Stringent Emission Regulations to Impel the Growth of Global Natural Gas Generator Market in Future, According to Research Nester“Global Natural Gas Generator Market: Analysis & Opportunity Outlook 2024”
The global natural gas generator market is segmented into material such as aluminum, steel and composite. Among these segments, aluminum natural gas generator segment is expected to occupy the top position in global natural gas generator market. Further, riding on the back of numerous properties such as corrosion resistant and all weather protection are expected to escalate the growth of the aluminum natural gas generator market. However, composite natural gas generator is projected to grow at highest CAGR during the forecast period.
Global natural gas generator market is expected to flourish at a significant CAGR of 8.1% over the forecast period. Moreover, the global natural gas generator market was estimated at USD 4,600.3 Million in 2016. Factors such as increasing adoption of environment friendly solutions, rise in green manufacturing practices of industries and increasing disposable income of the population are some of the factor driving the growth of the natural gas generator market.
Asia Pacific is slated to account for a leading market share in the natural gas generator market during the forecast period. The growth in the region can be attributed to increasing utilization of clean energy coupled with rising number of industries in the region. Besides, encouragement by the government to adopt clean energy sources and rapid pace in urbanization is also expected to impel the growth of natural gas generator Market in the Asia Pacific. China and India are the prominent market in the region. North America is expected to witness significant growth over the forecast period i.e. 2017-2024. This can be attributed to the stringent government regulation to reduce the environmental pollution.
Rising trend of adoption of environmental friendly products and solutions is anticipated to positively impact the expansion of the natural gas generator market. Further, natural gas generators are becoming more popular owing to their sustainability and low carbon emission. Moreover, encouragement by government and UN agencies to adopt clean source of energy is anticipated to foster the growth of the natural gas generator market.
Government Regulations and Legislations
To reduce the emission of harmful pollutants to the environment, various emission standards and regulations has been established by several countries such as U.S., China, Japan, India and others. This factor is envisioned to strengthen the global natural gas generator market. For instance, United States Environmental Protection Agency has enforced various legislations such as Clean Air Act to limit discharge of air pollutants into the environment. Further, these stringent regulations are creating huge potential for low emission generators and are substantially raising the demand for natural gas generators.
However, high cost of natural gas generator and availability of alternatives such as natural gas generators are expected to hamper the growth of the global natural gas generator market.
The report titled “Global Natural Gas Generator Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global Natural gas generator market in terms of market segmentation by phase, by revolution per minute, by material, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Natural gas generator market which includes company profiling of Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Generac Holdings, Inc., Kirloskar Oil Engines Ltd., Kohler Co., Doosan Corporation, Multiquip Inc., Wärtsilä Corporation and General Electric Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global Natural gas generator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.