Energy & Power Global Natural Gas Generator Market | Page 2

The global natural gas generator market is segmented into material such as
aluminum, steel and composite. Among these segments, aluminum natural gas
generator segment is expected to occupy the top position in global natural gas
generator market. Further, riding on the back of numerous properties such as
corrosion resistant and all weather protection are expected to escalate the growth
of the aluminum natural gas generator market. However, composite natural gas
generator is projected to grow at highest CAGR during the forecast period.
Global natural gas generator market is expected to flourish at a significant CAGR
of 8.1% over the forecast period. Moreover, the global natural gas generator
market was estimated at USD 4,600.3 Million in 2016. Factors such as increasing
adoption of environment friendly solutions, rise in green manufacturing practices
of industries and increasing disposable income of the population are some of the
factor driving the growth of the natural gas generator market.
Asia Pacific is slated to account for a leading market share in the natural gas
generator market during the forecast period. 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 pace in 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. North America is expected to witness
significant growth over the forecast period i.e. 2017-2024. This can be attributed
to the stringent government regulation to reduce the environmental pollution.
Environmental Concerns
Rising trend of adoption of environmental friendly products and solutions is
anticipated to positively impact the expansion of the natural gas generator
market. Further, natural gas generators are becoming more popular owing to
their sustainability and low carbon emission. Moreover, encouragement by
government and UN agencies to adopt clean source of energy is anticipated to
foster the growth of the natural gas generator market.
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