LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global LMC (low and medium capacity) gas generator market is predicted to grow at a GAGR of over 8% by 2020.
This research report titled ‘Global LMC Gas Generator Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Stringent measures across the globe to regulate the use of diesel engines are predicted to drive the growth of the global LMC gas generator market over the next four years. Regulations such as the EPA in the US has imposed several regulations regarding hazardous gas emissions in response to growing environmental concerns. These regulations cover the use of fuels, such as low-sulfur and ultra-low sulfur diesel fuels, which promote engine efficiency and a cleaner environment. These factors have encouraged many power rental equipment manufacturers to develop equipment that conforms to emission standards. This trend is expected to positively impact the adoption of gas generators over diesel generators until 2020.
The global LMC gas generator market can be categorized as follows on the basis of the end-users:
Largest revenue contributor: industrial segment
“It is anticipated that extensive construction activities will substantially drive the market for LMC gas generators over the forecast period. As every construction site may not have access to an electricity grid, there is a greater demand for gas generators to essentially run construction equipment on these sites,” said Technavio’s industry analyst for power, Anuj Ajaykumar.
“Gas generators have found widespread adoption as an auxiliary power source in other industrial sectors as well including mining, chemical plants, and semiconductor fabrication. With rapid global industrialization, especially in developing countries such as China, India, and Brazil, the need for uninterrupted power supply has gained paramount importance over the decade. Therefore, the industrial segment is expected to show more inclination towards the use of gas generators during the forecast period,” added Anuj.
Commercial segment of the global LMC gas generator market
The commercial segment is also an important end-user for low and medium capacity gas generators. The commercial sector includes hospitality, data centers, telecom, SEZs, large commercial complexes, and event management companies.
The hospitality sector, which includes hotels and resorts, generates considerable revenue every year for the global LMC gas generator market. The sector uses gas generators extensively as a backup power source to provide uninterrupted power supply and comfort to tourists during power outages. Therefore, this sector is expected to create a huge demand for low and medium capacity gas generators during the forecast period.
Residential segment of the global LMC gas generator market
The residential segment is also a significant end-user of low and medium capacity gas generators, especially in the portable generator segment. Frequent blackouts due to natural calamities and aging electricity infrastructure has increased the demand for power generators in the residential segment to ensure continuous power supply.
The residential construction market, particularly in the US has shown a positive outlook after being adversely affected by the recession of 2008-2009. It has emerged as one of the biggest end-users of gas generators in the global market. The recovery period has seen a resurgence in construction activities with the residential construction segment being a significant contributor to the overall growth of the construction market in the country. It will continue to generate a significant demand for LMC gas generators during the forecast period, reports Technavio research.
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