Aftermarket Natural Gas Generator Market to Grow with a CAGR of 8.19% through 2029
Increasing demand for reliable backup power solutions
and aging generator fleet are likely to
drive the market in the forecast period.
According to TechSci Research report, “Aftermarket
Natural Gas Generator Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029F”, Global Aftermarket Natural Gas Generator Market was valued at USD 10.08 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 8.19% through 2029.. One significant global aftermarket natural gas
generator market driver is the increasing emphasis on environmental
sustainability. Governments, businesses, and consumers alike are becoming more
conscious of the environmental impact of energy generation. Natural gas
generators are considered a cleaner-burning alternative to diesel or
coal-powered generators, as they produce fewer greenhouse gas emissions and
pollutants. As the world strives to combat climate change and reduce air
pollution, there is a growing preference for natural gas generators, especially
in regions with stringent emissions regulations. This preference drives the
demand for aftermarket services and solutions designed to enhance the
environmental performance of existing generators. Aftermarket services in this
context may include emissions control retrofits, such as selective catalytic
reduction (SCR) systems or exhaust gas recirculation (EGR) systems, which help
reduce nitrogen oxides (NOx) emissions. Additionally, service providers offer
maintenance and upgrade options to ensure generators remain compliant with
evolving environmental standards.
This focus on environmental sustainability not only
benefits the planet but also creates a robust market for aftermarket natural
gas generator solutions, fostering innovation and investment in
emission-reduction technologies. The global aftermarket natural gas generator market is
driven by the increasing demand for reliable backup power solutions across
various industries and applications. In an era characterized by heightened
connectivity and digital dependence, uninterrupted power supply is critical.
Natural gas generators have emerged as a favored choice for backup power due to
their efficiency, reliability, and rapid startup capabilities. As extreme
weather events, grid failures, and unforeseen emergencies become more frequent,
businesses, data centers, healthcare facilities, and critical infrastructure
providers are recognizing the necessity of having backup power sources. Natural
gas generators provide a dependable solution, offering cleaner emissions and
lower operational costs compared to diesel generators. This demand for backup
power drives the aftermarket market as generator owners seek maintenance
services, replacement parts, and technology upgrades to ensure their generators
are in optimal condition when needed. The aftermarket sector plays a crucial
role in maintaining the reliability of natural gas generators, making it an
indispensable component of the energy landscape.
Browse over XX market data Figures spread
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Natural Gas Generator Market.”
The Global Aftermarket Natural Gas Generator Market is
segmented into type, application and region.
Based on application, The Industrial segment had the
largest market share in 2023 and is projected to experience rapid growth during
the forecast period. Industries, such as manufacturing, mining, oil and gas,
and chemical processing, rely heavily on a continuous and reliable power supply
to maintain operations. Even brief power interruptions can lead to significant
financial losses, production downtime, and safety hazards. Natural gas
generators are a trusted source of backup and primary power in these sectors,
ensuring uninterrupted operations and minimizing the risk of costly
disruptions. Industrial facilities typically have high power demands, often
requiring large-capacity generators.
Natural gas generators can be scaled to
meet these demands efficiently, making them well-suited for industrial
applications. The larger generator sizes commonly used in industry contribute
to a significant market share in terms of both generator installations and
aftermarket services. Industrial environments are often harsh and demanding,
with generators operating in extreme temperatures, remote locations, or
hazardous areas. This challenging operating environment necessitates regular
maintenance, servicing, and component replacements to ensure the generators'
reliability and longevity. As a result, industrial applications generate a
substantial demand for aftermarket services to keep generators running
optimally. Industrial sectors are subject to stringent emissions regulations
and safety standards. Natural gas generators offer advantages in terms of lower
emissions compared to other power sources like diesel or coal. However,
compliance with emissions regulations requires specialized emissions control
systems and regular maintenance to meet or exceed environmental standards. This
further drives the demand for aftermarket services in the industrial sector.
Major companies operating in the Global Aftermarket
Natural Gas Generator Market are:
- Caterpillar Inc.
- Cummins Inc.
- Generac Holdings Inc.
- General Electric Company
- Siemens AG
- Wartsila Corporation
- Yanmar Holding Co., Ltd.
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce plc
- Kohler Co.
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“The Global Aftermarket Natural Gas Generator market
is expected to rise in the upcoming years and register a significant CAGR
during the forecast period. The global Aftermarket Natural Gas Generator market
is primarily driven by the rising need for energy resilience in businesses and
critical infrastructure. As power interruptions become more frequent due to
extreme weather events and other disruptions, organizations seek reliable
backup power solutions. Natural gas generators offer a dependable and efficient
source of backup power, ensuring uninterrupted operations. This demand fosters
a thriving aftermarket sector, including services for maintenance, upgrades,
and compliance with environmental regulations. In an increasingly
interconnected and data-dependent world, energy resilience has emerged as a
critical priority, making the aftermarket natural gas generator market a vital
component of business continuity strategies. Therefore, the Aftermarket Natural
Gas Generator market is expected to boost in the upcoming years”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“Aftermarket Natural Gas Generator Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Service & Maintenance, Repair, Overhaul & Remanufacturing, Upgrades & Modifications), By Application (Commercial, Industrial, Residential), By Region, By Competition, 2019-2029F”, has evaluated the future growth
potential of Global Aftermarket Natural Gas Generator Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Aftermarket Natural Gas Generator Market.
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