Global Natural Gas Generator Market: Industry Development Scenario
and Forecast to 2024
The global natural gas generator market is segmented into material such as
aluminum, composite and steel. Among these segments, aluminum segment is
expected to dominate the overall natural gas generator market and is anticipated
to capture a noteworthy CAGR of 8.7% by 2024. Further, the aluminum natural
gas generator market is expected to observe a growth rate of 1.7x over the forecast
period.
In terms of regional platform, Asia Pacific is slated to account for a leading share
of 39.9% by 2024 in the natural gas generator market. The growth in the region
can be attributed to increasing utilization of clean energy coupled with rising
number of industries in the region. Besides, encouragement by the government to
adopt clean energy sources and rapid pacein urbanization is also expected to impel
the growth of natural gas generator market in the Asia Pacific. China and India are
the prominent market in the region. China natural gas generator Market was held
at a valuation of USD 391.1Million in 2016. Further, economic growth of various
industry verticals in the country is expected to swell the demand for Natural Gas
Generator during the forecast period.
Global natural gas generator market reached USD 4,600.3 Million in 2016 and is
anticipated to register a CAGR of 8.1% during the forecast period. Moreover, the
market is anticipated to reach USD 8,511.1 Million by the end of 2024.Further,
inclination of people toward clean energy equipment and government regulation
to curb the pollution is expected to escalate the growth of the natural gas generator
market.
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Environmental concerns
In the areas of limited source of power, generators are vastly utilized. However,
generators such as diesel generators possess a serious threat to the environment if
operated for a long period of time. In contrast, alternative generato