Natural Gas Generator Market Price to Strike USD 10.4 Billion by 2031
Natural Gas Generator Market projected to grow at a CAGR of 6.6% from 2022 to 2031.
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The natural gas generator market size was valued at $5.5 billion in 2021, and is estimated to reach $10.4 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031.
The key players operating and profiled in the report include Weichai Group (China), Kohler Co. (US), Atlas Copco (Sweden), Denyo (Japan), Wacker Neuson (Germany), Doosan (South Korea), Greaves Cotton Limited (India), Kirloskar Oil Engines Ltd. (India), Siemens (Germany), Aksa Energy (Turkey), Wärtsilä (Finland), Honda (Japan), Briggs & Stratton (US), ABB (Germany) and Yanmar (Japan).
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Asia-Pacific registered the highest natural gas generator market share and is projected to maintain the same during the forecast period.
Injection:
The internal combustion engine injects fuel and air into the combustion chamber, where the mixture gets compressed by the piston.
Ignition:
After the piston compresses the air and fuel combination, the spark plug ignites the fuel with a small but powerful spark. The spark ignites an explosion in the chamber that the Rest of the generator turns into mechanical energy.
Electricity generation:
Ignition causes the gases to expand, pushing the piston down with enough force to turn the crankshaft, which then spins the rotor. When the rotor spins, the stator wires conduct electricity and combine into a single large electrical current that, if large enough, can power appliances and buildings.
Generators harness mechanical energy, fueled by natural gas, to create electricity. Natural gas generators use fuels such as propane or natural gas, drawn either from a direct line piped in by utility suppliers or via a tank, to generate the cleanest fossil fuel electricity possible.
Natural gas generators use natural gas to create electricity. They work similar to gas generators, but these generators use gas fuel instead of liquid. To create electricity in a natural gas generator, a mixture of fuel and air is inserted into a combustion chamber, where a piston compresses it. A spark plug ignites the fuel by forcing the piston down and turning the crankshaft.
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Natural gas is one of the cleanest-burning fossil fuels, releasing fewer toxins into the atmosphere than other generator fuels. However, rise in pollution concern across the globe may act as the major driving factor for the market.
Rather than having to refill a fuel tank repeatedly, natural gas generator can be connected by local gas pipeline for a near-unlimited fuel supply, barring any major disasters or utility failures.
Diesel generators require extra time and expense to polish the fuel to remove contaminants. Diesel’s limited shelf life in storage means it requires extra planning and expense, with natural gas.
On the basis of application, the continuous segment emerged as the global leader in 2021 and is anticipated to be the largest natural gas generator market growth during the forecast period.
On the basis of power rating, the less than 75 kVA segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
On the basis of end users, the commercial segment registered the highest market share and is projected to maintain the same during the forecast period.
The manufacturing of Natural gas generator was stopped for a specific period of time due to high peak of the COVID-19 situation which led to highly impact the sales of Natural gas generator.
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COVID-19 impacted almost all industries by hindering various industrial Power ratings and disrupting the supply chain. Maximum companies halted their Power rating due to less workforce. However, there is a sluggish decline in the global natural gas generator market due to impact of COVID-19.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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