Global Industrial Gas Generator Market to Reach US$ 5.4 Billion by 2032, Stimulated by Increasing Demand for Power Backup

June 19, 2023 | Heavy Industry

According to the latest report by IMARC Group, titled “Industrial Gas Generator Market Report by Type (20KW to 100KW, 101KW to 500KW, 501KW to 1MW, 1 MW to 2 MW, 2 MW to 5 MW), End-Use (Chemical Industry, Breeding Industry, Petroleum and Gas Industry, Mining Industry, and Others), and Region 2024-2032,” the global industrial gas generator market size reached US$ 2.7 Billion in 2023. An industrial gas generator is a specialized device designed to produce large quantities of gas for various industrial applications. It is equipped with advanced control systems that ensure optimal performance and safety. It produces a wide range of gases, including nitrogen, oxygen, hydrogen, and carbon dioxide, depending on the specific requirements of the industrial application. It is crucial for maintaining efficient and productive industrial operations across different sectors, ensuring the availability of the required gases for various processes while offering flexibility, cost-effectiveness, and environmental sustainability. It plays a vital role in heat treatment processes, where precise control of temperature and atmosphere is required. Additionally, in the chemical industry, industrial gas generators supply gases for various reactions and processes. Besides, it produces the necessary gases for annealing, hardening, and tempering of metal parts, ensuring their desired mechanical properties.

Global Industrial Gas Generator Market Trends:

The increasing demand for power backups across the industrial sector is driving the global market. Moreover, with the rising energy needs, there has been a growing demand for industrial gas generators as they can serve as primary power sources or act as backup systems during power outages, ensuring uninterrupted operations. Besides, continuous improvements in technology, such as enhanced control systems, better fuel efficiency, and reduced emissions, are providing a boost to the demand. Apart from this, the increasing focus on reducing carbon emissions and adopting sustainable practices is fuelling the adoption of industrial gas generators as they produce lower emissions and offer an eco-friendlier solution. Furthermore, the widespread adoption of industrial gas generators by various industries, such as oil and gas, manufacturing, construction, and healthcare, is creating a positive market outlook. Besides, the shift toward decentralized energy systems, where power is generated closer to the point of use, is providing a boost to the market. Other factors, such as ongoing infrastructural developments and increasing adoption of cogeneration systems, are projected to propel the market further. Looking forward, the market value is projected to reach US$ 5.4 Billion by 2032, expanding at a CAGR of 7.6% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented into 20KW to 100KW, 101KW to 500KW, 501KW to 1MW, 1 MW to 2 MW, and 2 MW to 5 MW.
  • On the basis of the end-use, the market has been divided into chemical, breeding, petroleum and gas, mining, and other industries.
  • On the geographical front, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. 
  • The competitive landscape of the market has also been examined, with some of the key players being Caterpillar, Cummins Inc., General Electric Company, Kohler Power, Himoinsa SL, Generac Power Systems, Shandong Lvhuan Power Co., Ltd., Rolls-Royce Motor Cars Ltd., Multiquip Inc., and Jinan Diesel Engine Co., Ltd.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, End-Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Caterpillar, Cummins Inc., General Electric Company, Kohler Power, Himoinsa SL, Generac Power Systems, Shandong Lvhuan Power Co., Ltd., Rolls-Royce Motor Cars Ltd., Multiquip Inc., and Jinan Diesel Engine Co., Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Industrial Gas Generator Market to Reach US$ 5.4 Billion by 2032, Stimulated by Increasing Demand for Power Backup
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