China Gas Generator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Gas Generator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for the gas generator in China is expected to grow at CAGR of more than 5% in the forecast period of 2020-2025. Factors such as increasing gas production supported by awareness regarding natural gas as a clean and reliable fuel increased concerns over diesel maintenance and refueling issues and decreasing natural gas fuel prices have supplemented the demand for gas generators in recent years. However, the lack of gas grid connectivity via pipeline, resulting in hindered fuel supply, is expected to act as a challenging factor to overcome the gas generators market in the coming years.

Key Highlights

• Due to the increase in demand from telecom, retail, and other commercial buildings and residential sectors, below 75 kVA capacity generators are expected to witness significant growth during the forecast period, supported.
• The growing population of China is expected to give rise in demand for power, manufacturing, chemical industries. With new increasing gas production, the gas generators are likely to create significant market opportunities
• The industrial sector has accounted for the largest share of the revenue from the sale of gas generators in 2019, owing to the increasing demand for continuous and reliable power supply from the industrial sector.

Key Market TrendsBelow 75 kVA Capacity Gas Generator to Witness Significant Growth in the Market

• Less than or equal to 75 kVA gas generators are used in the telecommunication sector, commercial complexes, small restaurants, small-scale industries, and petrol stations, among others, primarily as backup power in grid-connected areas and as the main power source in off-grid areas.
• The demand for less than or equal to 75 kVA gas generators is expected to increase, with the change in the landscape for small businesses, especially in countries like China, where the rising population is expected to drive the need for gas generators.
• The building and construction market is on the rise in China due to current government initiatives, such as smart cities and green building initiatives, which are expected to create the demand for gas generators during the forecast period, and in turn, drive the market.
• With 161 billion cubic meters of gas production in 2018, the application of the gas generator is expected to increase significantly in the forecast period.
• With a reduction in the prices of natural gas and growing manufacturing and construction industries, the market of gas generators can witness a significant growth in the forecast period.

Industrial Sector to Dominate the Market

• The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for the largest share of energy consumption of any end-use sector and accounts for a major share in the gas generator market in China.
• The increase in the renewable installed capacity to 758 GW in 2019 would require temporary power backup in case of peak demand or curb the limitation of renewable in the adverse weather condition, so the demand for gas generators is likely to increase in the forecast period.
• Increasing demand for continuous and reliable power supply from these industries, especially from healthcare facilities, pharmaceutical industries, and manufacturing facilities, is expected to boost the demand for gas generators.
• Moreover, as the air emission norms are becoming more stringent in China, coupled with the environmental benefits, the demand for gas generators is expected to witness a significant increase, as compared to diesel generators, which are considered more polluting.
• Government initiatives to expand the industrial sector, especially in China, are expected to boost the demand for gas generators over the forecast period.

Competitive Landscape

The China gas generator market is moderately fragmented. Some of the major companies include Yanmar Co. ltd, Kirloskar Electric Company Limited, Cummins Inc, Caterpillar Inc, and General Electric Company.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Kirloskar Electric Company Limited.
Cummins Inc
Caterpillar Inc
General Electric Company
Kohler Co
AKSA Power Generation
Cooper Corporation
Yanmar Co. ltd

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