The global natural gas generator market revenue was around US$ 5.7 billion in 2021 and is estimated to reach US$ 10.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.6% during the forecast period from 2022 to 2031.

A natural gas generator is a particular kind of generator that uses natural gas as its fuel rather than the more common options of petrol or diesel. They are widely utilized in nursing homes, hospitals, and other big facilities where a reliable power supply is essential. It is frequently utilized in place of gasoline-powered ones.

Factors Influencing Market Growth

Natural gas is one of the cleanest-burning fossil fuels, which emits fewer pollutants into the atmosphere than other fuels. However, the growing concern over pollution around the world drives market growth.

Expansion of gas-based power production, the pipeline of gas infrastructure expansion, and cost-effective and high-efficiency of generators. Such factors propel the market growth.

Global urbanization and infrastructure expansion increased the demand for natural gas generators, which may drive the market.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the market. Lockdown enacted by the government, restricted people's movement, products, and electricity around the globe, especially in the majority of the areas where natural gas generators are produced on a significant scale. Several local, state, and federal governments have imposed various restrictions on how business is conducted and how people can travel, such as stay-at-home orders and quarantines, which have resulted in a sizable number of business slowdowns and closures.

Therefore, the crisis impacted nearly all sectors since it interfered with various industrial supply chains and power ratings. Due to fewer employees, the majority of enterprises stopped monitoring their Power rating. However, it slowed down the market.

Regional Insights

Asia-Pacific dominated the market and it is anticipated that this region would continue to develop at the highest rate over the forecast period. This can be attributable to some things, including this region's largest population and enterprises. Furthermore, the rapid growth of the industrial sectors in India, Japan, and South Korea increases the demand in this region.
Additionally, government initiatives in India are promoting the development of industrial facilities, which is predicted to increase demand for gas generator sets for industrial applications throughout the projection period. India's generator set sector has a preference for using diesel as a raw source. However, demand for natural gas gen-sets would increase due to government requirements to reduce carbon emissions brought on by the burning of diesel combined with the government's shifting focus towards the use of cleaner sources for power generation.
Leading Competitors

The leading competitors in the global natural gas generator market are:
F.G. Wilson
Generac Holdings Inc
MTU America Inc
Cummins Inc
General Electric Company
Aksa Power Generation
Kohler Co
Cooper Corporation
Mitsubishi Heavy Industries Ltd
Caterpillar Inc
Others
Segmentation Analysis
The global natural gas generator market segmentation focuses on Application, Power Rating, End User, and Region.
Segmentation based on Application
Stand-by
Continous
Segmentation based on Power Rating
Less than 75 kVA
75-375 kVA
Above 375 kVA
Segmentation based on End User
Commercial
Residential
Industrial
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America