A recent report from Navigant Researchanalyzes the global market for natural gas generator sets from less than 15 kW to 20 MW in size for residential, commercial, industrial, and utility applications by country.
A source of emergency standby, prime, peaking, or continuous power generation, NG gensets are used worldwide for distributed power production. The market for this technology is expected to show steady growth over the next 10 years despite a short-term slowdown due to volatility in the oil & gas market. According to a recent report from Navigant Research, the market for NG gensets is expected to total $147 billion from 2015 to 2024.
“The reciprocating engines used in NG gensets are used for many different types of distributed power generation, from small portable purposes to large, multi-megawatt installations,” says Taylor Embury, research analyst with Navigant Research. “NG gensets are also gaining ground in backup and standby application due to their reliable performance.”
Dual-fuel gensets are becoming increasingly popular, as they offer a middle ground between the high reliability of diesel fuel and the lower cost and emissions of NG, according to the report. One of the biggest hurdles for NG gensets to navigate is the current lack of NG infrastructure in emerging economies; dual-fuel gensets can serve as a bridge into these markets and lay the framework for more NG infrastructure to follow.
The report, Natural Gas Generator Sets, 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. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors.
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