/PRNewswire/ - Natural gas (NG) generator sets (gensets) are reciprocating internal combustion engines that are used worldwide for distributed power production. Despite a short-term slowdown due to volatility in the oil & gas market, the NG genset market is expected to show healthy growth during the next 10 years. As a source of emergency standby, prime, peaking, or continuous power, NG-fueled gensets are poised for rapid growth, particularly in markets where inexpensive NG is widely available.
Yet, NG gensets cannot match the performance or convenience of diesel gensets since diesel has a higher energy content and is easier to transport than NG. Today, though, the line between NG and diesel gensets is becoming blurred with the increasing popularity of dual-fuel gensets, which offer the performance of diesel while taking advantage of the low price and low emissions of NG. In emerging economies, the key obstacle to the spread of NG gensets is a lack of adequate NG infrastructure. Once again, dual-fuel gensets provide an interesting middle ground, and they are seeing growth markets in developing countries where the NG infrastructure is expected to follow. According to Navigant Research, annual NG genset installations are expected to reach 27.2 GW by 2024 and generate $146.8 billion in cumulative revenue between 2015 and 2024.
This Navigant Research report analyzes the global market for NG gensets from less than 15 kW to 20 MW for residential, commercial, industrial, and utility applications. The study includes in-depth assessments of global regions for NG genset capacity installations, a breakdown of market segments by power class, an analysis of global gas resource development, and profiles of the key industry players engaged in this market. Global market forecasts that project the capacity and revenue of NG gensets in the 15 kW–6 MW size range, segmented by region and country, extend through 2024.
Key Questions Addressed:
What is the size of the global market opportunity for natural gas (NG) generator sets (gensets)?
What are the market drivers and barriers for NG gensets?
What does the market landscape for NG gensets look like?
What is the emerging role of dual-fuel gensets?
How will combined heat and power (CHP) adoption affect the NG genset market?
How will the boom in unconventional gas resources affect the NG genset market?
How are emissions regulations affecting demand for diesel and NG gensets?
Which countries are the largest growth markets for NG gensets?
Who needs this report?
Natural gas (NG) generator set (genset) OEMs
Reciprocating engine distributors and technicians
Genset packagers and installers