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Energy|Environment|Flow|Gas|Generator|Generator Sets|Generator-Sets|Gensets|Infrastructure|Power|Service|Storage|Flow|Generator Sets|Environmental|Generator Sets|Infrastructure|Operations
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Cleaner power demand boosts gas genset sales

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According to Frost & Sullivan a growing interest in gas-powered generator sets has been experienced in Europe

SWITCHED ON According to Frost & Sullivan a growing interest in gas-powered generator sets has been experienced in Europe

17th April 2020

     

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Stringent environmental regulations, declining gas prices and increasing demand for flexible transmission of renewable power have sparked a growing interest in gas-powered generator sets (gensets) in Europe, says market research company Frost & Sullivan.

The firm reported in February, in ‘European Gas Generator Set Market; Forecast to 2025’ that the market revenue for gas gensets in Europe is expected to expand at a compound annual growth rate (CAGR) of 5.3%, from $307.2-million in 2018 to $441.6-million by 2025.

Additionally, unit sales are set to increase at a CAGR of 3.2%, reaching 2 034 units by 2025.

“As Europe moves towards meeting its emission reductions targets by 2030, the gas gensets market is positioned for fairly good growth in the near future,” says Frost & Sullivan global energy programme lead Jonathan Robinson.

He adds that gas gensets are expected to gain market share among end-user segments that were dominated by diesel gensets as the region moves towards lower-emission fuel sources.

The report addresses the major challenges faced by participants in a dynamic gas- powered genset industry in Europe.

The report examines the competitive forces driving the market in Europe, highlights present market opportunities, offers additional information on the regions to look at for future investment, and includes growth strategies. Market metrics for all major European regions are also provided.

The strengthening of the gas pipeline infrastructure and storage network across Europe is leading to the increasing uptake of gas gensets in prime power and back-up power applications.

The dominance of diesel gensets in backup power applications is being disrupted by gas gensets as a result of stringent environmental emission regulations and declining natural gas prices. The replacement market for gas gensets presents strong growth prospects as customers move towards the latest generation of gensets to power their operations.

Robinson notes that the growth of power storage is also expected to play a role in increasing gas gensets sales, as the demand for hybrid gensets with power storage capabilities rises.

“Further, expansion of product lines and product differentiation through acquisitions or new product introductions by establishing partnerships and new channels will expand customer reach.”

Market participants can also leverage the opportunities for growth in optimising operations to reduce costs and generate higher revenues. Other opportunities include introducing new product lines to extend consumer reach.

Integrating gas gensets with power storage capabilities for better product differentiation is also listed as a growth area as is incorporating active emission control measures to meet new norms.

‘European Gas Genset Market; Forecast to 2025’, is a part of Frost & Sullivan’s Energy and Environment Growth Partnership Service programme, which helps organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

Edited by Zandile Mavuso
Creamer Media Senior Deputy Editor: Features

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