The latest trend gaining momentum in the market is emerging alternative backup power equipment. Generators have been in use as auxiliary power equipment for a long time in residential households. However, the emergence and growing popularity of alternative backup power equipment will have a negative impact on the global gas generator market, especially the portable gas generator segment.
One of the major drivers for this market is Growing popularity of gas generators. Diesel generators are noisier than gas generators and are not used in commercial and residential applications. Thus, many large end-users have started using gas generators, which has led to an increased manufacturing of gas-powered generators. End-users are opting for gas generators as, unlike a diesel generator, the work of filling a generator with gas during a power outage is eliminated.
The global gas generator market is expected to grow at a CAGR of 8.01 per cent during the period 2017-2021. The following companies as the key players in the global gas generator market: Caterpillar, Cummins, Generac Power Systems, and Kohler. Other prominent vendors in the market includes, APR Energy, Aggreko, Briggs and Stratton, Camda New Energy Equipment, Cooper Corporation, Dresser-Rand, Elcos, F.G. Wilson, General Electric, Genesal Energy, Genmac, Greaves Cotton, Guangdong Honny Power-Tech, Guangdong Westinpower, Himoinsa, Hipower, Jakson Group, Kirloskar Oil Engines, Man Truck & Bus, Mitsubishi Heavy Industries, Perkins Engines Company, Powerica, Pr Industrial (pramac), Rolls-Royce Power Systems, Shandong Naipute Gas Power, Sudhir Power, Wartsila, Wuxi Baifa Power, And Yamaha Motor.