Gas Genset Market Size Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2030

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Gas Genset Market Size is expected to grow at 5.00 % CAGR during the forecast period 2022-2030.

Gas Genset Market Size Overview:

Gas Genset Market Size is expected to grow at 5.00 % CAGR during the forecast period 2022-2030. 

Gas genset are machines capable of providing power to regions facing frequent power outages. The lack of stored power and problems in transmission grids coupled with environment friendly approaches to energy are likely to drive its demand among residential, commercial, and industrial applications. The global Gas Genset Market Size report by Market Research Future (MRFR) provides a comprehensive overview of the industry combined with the impact of the COVID-19 pandemic over the forecast period (2022-2030).

Genset refers to engine and alternator/generator. For instance, gas genset consists of gas engine, alternator/generator, fuel day tank, basecamp, cooling system, and an enclosure. Engine converts the chemical energy into mechanical energy and this energy is used to power the rotor in order to convert mechanical energy into electrical energy. An alternator is made of two main parts; a rotor and stator.  Spinning the alternator rotor through the magnetic field between the rotor and stator creates a voltage on the alternator stator through electromagnetic induction phenomenon.   When the voltage on the stator is connected to a load, electrical current flows, and the generator produces power. Gensets finds application majorly in areas not connected to grids and in areas having frequent power outages. Natural gas gensets are cleaner, quieter, and more efficient as compared to diesel gensets.

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Report Attribute/Metric



  5.00 % CAGR (2022-2030)

  Base Year


  Forecast Period

  2022 to 2030

  Historical Data

  2019  2020

  Forecast Units

  Value (USD Million)

  Report Coverage

  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

  Segments Covered

  Fuel , Power Rating and Application

  Geographies Covered

  North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Market Scope

The global Gas Genset Market Size is expected to grow at ~ 5.00 % CAGR during the forecast period. 

This report provides an in-depth analysis of the global Gas Genset Market Size, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, the Middle East Africa, South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Gas Genset Market Size by its fuel, power rating, application, end-user, and region.   


The global Gas Genset Market Size has been segmented based on fuel, power rating, application, and end-user.

  • Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.
  • The global Gas Genset Market Size is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and above 1000 KVA.
  • Based on application, the global Gas Genset Market Size is segmented into standby, peak shaving, and continuous. Standby segment led the global Gas Genset Market Size in 2017.
  • By end-user, it is segmented into residential, industrial, and commercial. Residential segment is estimated to register the highest growth rate in the global Gas Genset Market Size during the forecast period.

Regional Analysis

North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the Gas Genset Market Size in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the Gas Genset Market Size owing to rising natural gas production in Southeast Asian countries in the region.  

Competitive Outlook

GE, Wartsila, Caterpillar, MTU Onsite Energy GmbH, Himoinsa, Sudhir Power, Genrac Power Systems, PARAMAC, Siemens AG, ABB, and Cummins are key players of the global Gas Genset Market Size.