Market Size of North America Gas Generator Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 4.93 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Gas Generator Market Analysis
The North American gas generator market is expected to witness a CAGR of more than 4.93% during the forecast period.
The market was negatively impacted by COVID-19. However, it has now reached pre-pandemic levels.
- Over the medium term, factors such as increasing awareness regarding natural gas as a clean and reliable fuel, increased concerns over diesel maintenance and refueling issues, decreasing natural gas fuel prices, and the general desire to be more environmentally responsible have supplemented the demand for gas generators.
- On the other hand, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a challenging factor for the gas generator market in the coming years.
- Nevertheless, the commercial and industrial sectors, the residential sector of the region, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
- The United States is expected to be the largest market during the forecast period for gas generators. With the falling cost of natural gas, the usage of natural gas across the residential sector and commercial sectors is expected to increase, in turn, driving the demand for natural gas generators during the forecast period.
North America Gas Generator Industry Segmentation
Using a natural gas generator is a common and effective way to generate electricity. As one of the most economical and efficient fuels among non-renewable resources for power generation, natural gas can be utilized to power both emergency and portable generators.
The market is segmented by Capacity, End User, and Geography. By capacity, the market is segmented into less than 75 kVA, 75-375 kVA, and above 375 kVA. By end user, the market is segmented into industrial, commercial, and residential. The report also covers the market size and forecasts for the gas generator market across the major countries in the region. For each segment, the market sizing and forecasts have been done on the revenue (USD Billion).
| Capacity | |
| Less than 75 kVA | |
| 75-375 kVA | |
| Above 375 kVA |
| End User | |
| Industrial | |
| Commercial | |
| Residential |
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Gas Generator Market Size Summary
The North American gas generator market is poised for growth, driven by increasing awareness of natural gas as a clean and reliable energy source. The market has rebounded to pre-pandemic levels after the initial negative impact of COVID-19. Key factors fueling demand include the decreasing cost of natural gas, concerns over diesel maintenance, and a growing emphasis on environmental responsibility. However, challenges such as limited gas grid connectivity may hinder supply. The market presents significant opportunities in the commercial, industrial, and residential sectors, particularly in defense operations. The United States is expected to lead the market, with rising natural gas usage in residential and commercial sectors further boosting demand for gas generators.
The demand for gas generators, especially those with a capacity of less than or equal to 75 kVA, is anticipated to rise, particularly in rural areas where power outages are common. The natural gas industry in North America has seen substantial growth, with increased consumption due to successful hydraulic fracturing in shale regions. The data center sector is a major driver of market growth, with significant investments in expanding operations, such as Vantage's plans in Canada. The United States, with its high electricity demand and frequent power outages, is a key market, as gas generators offer a reliable backup power solution. The market is moderately fragmented, with major players like Caterpillar Inc., Kohler Co., and Cummins Inc. actively contributing to its development.
North America Gas Generator Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Capacity
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2.1.1 Less than 75 kVA
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2.1.2 75-375 kVA
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2.1.3 Above 375 kVA
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2.2 End User
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2.2.1 Industrial
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2.2.2 Commercial
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2.2.3 Residential
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Rest of North America
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North America Gas Generator Market Size FAQs
What is the current North America Gas Generator Market size?
The North America Gas Generator Market is projected to register a CAGR of greater than 4.93% during the forecast period (2024-2029)
Who are the key players in North America Gas Generator Market?
Caterpillar Inc, Kohler Co, Cummins Inc, Generac Holdings Inc and General Electric Company are the major companies operating in the North America Gas Generator Market.
