Gas generators are used for driving a turbine or generating combustible gases from a liquid or solid source. The gases which are created by the generator consist of the products of complete combustion of the fuel which include carbon dioxide and water. As they act as the source of backup or emergency power, gas generators have gained immense popularity across the industrial sector. Currently, they are available in different types of engines which vary in terms of their functionality and operating power. According to the latest report by IMARC Group, titled “Industrial Gas Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global industrial gas generator market reached a value of US$ 2.9 Billion in 2018.
Over the years, the adoption of gas generators across the industrial sector has increased owing to the need for uninterrupted power supply due to an increase in power outages and faults in electric networks. Additionally, a strong demand from emerging regions such as the Middle East and Asia on account of rapid urbanisation and industrialisation has fuelled the growth of the global industrial gas generators market. Moreover, technological advancements such as the installation of remote monitoring systems has further broadened the growth prospects of the market. Looking forward, the market value is projected to be US$ 4.4 Billion by 2024, exhibiting a CAGR of 7.3% during 2019-2024.
This report provides a deep insight into the global industrial gas generators market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the industrial gas generators market in any manner.
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