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Global Gas Gen-Sets Market

  • January 2014
  • 165 pages
  • Frost & Sullivan
Report ID: 2011352

Summary

Table of Contents

Strong Growth Driven by Natural Gas Boom, Shale Gas Exploitation, and Biogas Generation

This research service provides an in-depth analysis of the global gas gen-sets market. Global growth in gas-fired power generation will continue to drive the gas gen-set market for the foreseeable future. With shale gas exploitation keeping gas prices down and biogas growth creating demand for alternative fuels, the market is expected to grow throughout the forecast period, from 2013 to 2019. Revenue forecasts, drivers and restraints, competitive analysis, company market shares, and pricing and technology trends are evaluated in detail to give a clear vision of the growth path of this market. The study also provides full segmentations and revenue forecasts by power range, region, usage type, and vertical end-user market.

Key Findings

• Frost & Sullivan estimates that the global gas gen-sets market revenue increased by X% in 2012 compared to 2011. The total revenue is expected to reach $Xbillion in 2019, growing at a compound annual growth rate (CAGR) ofX%.
• The market is expected to follow a positive growth pattern through the forecast period despite the economic uncertainty in the wake of recent African and Middle Eastern unrest.
• In 2012, theX kW– MW and >X MW power ranges accounted for the majority of revenue at a combined X%. Frost & Sullivan expects that during the forecast period, the X kW–1 MW range will be the fastest growing segment for units sold at a CAGR of X%.
• Favourable government initiatives should continue to propel the growth of the industry as a whole. A number of legislative initiatives are expected to boost the proportion of energy coming from ‘green sources,’ which has accelerated the number of special gas projects, and political willingness will be a key driver throughout the forecast period.
• The status of gas as a clean burning fuel ties in with the overall global aim of reducing carbon emissions and protecting the environment. Gas gen-sets are perceived as expensive; therefore, in order for end users to see a return on investment they are often employed in continuous applications as prime power.
• In the last X years, gas gen-sets have increased their attractiveness, especially in the United States and Europe, due to stricter environmental regulation on emissions and lower gas prices. Increasing adoption of shale gas in the United States and biogas in Europe has been a key driver for market growth.
• While high volume sales continue in China and the United States, there is a definite growth trend across other emerging markets.
• China and India have become the largest production hubs for gen-sets, and exports from these regions have increased over the last few years. Most large manufacturers are building up their capabilities with tie-ups and alliances in these countries.
• Other advantages driving the gen-set market include lower noise levels, quicker permit obtention, and lower purchase costs for smaller units, hence the gas gen-sets market is set to grow aggressively.
• Key growing application sectors include standby and emergency power, peak shaving, and other short-term demands. However, gas gen-sets as a source of prime and continuous power is fast becoming prominent, especially in countries with a widening demand and supply power gap.
• In systems larger than X kW, the installation costs are extremely high while power efficiency is low; hence, gas gen-sets are used as prime power.
• The global gen-sets market experienced strong growth between 2010 and 2012. With the increasing consciousness among consumers favouring low gas emissions and higher efficiency units, legislation in Europe and North America is continuously improving to support gas gen-set technology.
• Despite the after-effects of the recession, the overall outlook for gas gen-sets is still positive.
• The global gas gen-sets market was in a state of maturity about a decade ago, and the growth rate was expected to reduce. However, the change of legislation in some countries and innovations in technology have broadened the market; therefore, the gas gen-sets market is still very promising.
• The recent trend toward the adoption of shale gas and limiting greenhouse gas emissions has also led to an increase in the popularity of gas gen-sets. The companies participating in this market are therefore looking for niches in terms of technology and fuels in order to generate efficient energy.
• The industrial sector is the main end user for gas gen-sets, accounting for X% of the revenue in 2012, whereas the residential sector accounted for X% of the gas gen-sets revenue.
• The global gas gen-sets market is expected to grow at a strong growth rate of more than X% between 2013 and 2019. While the demand and supply power gap is a key market driver across developing markets, focus on energy efficiency and power generation from renewables is the driving factor in mature markets.
• Over the last few years, gas gen-sets were largely used for standby and short-term power sources; however, they are now being increasingly used for continuous power applications.
• Favourable policies on combined heat and power (CHP) applications have also given the gas gen-sets market a fresh perspective. The usage of gas-fired gen-sets is not only gaining popularity for standby power, but are now used as prime power applications, especially for CHP.
• As the International Energy Outlook forecasts carbon dioxide emissions to increase over the next few years, gas gen-sets provide an efficient option for on-site power generation.

CEO’s Perspective

1. Hybrid gen-sets and efficient technology create demand for new solutions and smaller sized units in industrial applications.
2. The Asia-Pacific market is the fastest growing and largest region for sales of commercial and residential gas gen-sets.
3. The emergence of shale gas and biogas are the key fuel supply drivers of the global gen-sets market demand.
4. Demand is quickly emerging in Latin America, the Middle East, and Asia-Pacific due to rapid growth and unreliable electric grid networks.
5. The overall demand for gas gen-sets is closely related to the level of economic development and progress across the globe.

Market Definitions

Geographic Coverage
Global

Study Period
2009–2019

Base Year
2012

Forecast Period
2013–2019

Monetary Unit
Dollar

Conversion Rate
€ = $X

Geography
North America
Latin America
Europe
Asia-Pacific
Africa and Middle East

End Users
Residential
Commercial
Industrial

Power Ranges
< XkW
XkW– kW
X kW– MW
> 1 MW

Usage Scope
Prime Power
Standby
Peak Shaving

• Gas gen-sets are available for various power generation applications and can use different fuel sources. They can vary in sizes ranging from a few kilowatts (kW) to more than Xmegawatt (MW) depending on the type of applications.
• For the purpose of this study, we have considered all stationary units that are available for generating power across different applications; these include prime power, standby, and peak-shaving. Gas gen-sets are also used for combined heat and power (CHP) usage.
• There are two basic types of gen-sets: spark ignition and compression ignition. Spark ignition technology for power generation uses natural gas as the main fuel, although they can also run on propane, gasoline, or special gases such as landfill, flare, and digester gas.
• Compression ignition technology or diesel engines operate on diesel or heavy oil; they can also run in a dual-fuel configuration that burns natural gas along with diesel fuel. The scope of this study is limited to the spark ignition of gas gen-sets technology only.

Key Questions This Study Will Answer

Is the global gas gen-sets market growing, how long will it continue to grow, and at what rate?
Are the existing competitors structured correctly to meet customer needs?
Will these companies/products/applications continue to exist?
What are the key drivers and restraints affecting the gas gen-sets market?
Are the technologies offered today meeting customer needs or is additional development needed?
How are the growth trends for gas gen-sets different in developed and developing markets?

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