Distributed Natural Gas-Fueled Generation Market Drivers, Growth Value, Size and Forecast By 2033
Global distributed natural gas-fueled generation market size is expected to reach $50.6 Bn by 2028 at a rate of 11.0%, segmented as by technology, natural gas gensets, micro turbine, stationary fuel cells
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Overview and Scope
Distributed natural gas-fueled generation refers to the pipelines used for distribution as well as the metering and regulating apparatus at metering-regulating stations that are run by a local distribution company operating within a single state and governed as a separate operating company by a public utility commission or that are run as an independent municipally owned distribution system.
Sizing and Forecast
The distributed natural gas-fueled generation market size has grown rapidly in recent years. It will grow from $30.15 billion in 2023 to $33.35 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to energy security concerns, economic viability, grid resilience and reliability, energy independence, environmental considerations.
The distributed natural gas-fueled generation market size is expected to see rapid growth in the next few years. It will grow to $50.6 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to renewable natural gas integration, grid decentralization initiatives, energy storage integration, government incentives and policies, resilience planning. Major trends in the forecast period include technological innovations in microgrids, advancements in gas turbine technology, technology advancements, integration with renewables, environmental considerations.
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Segmentation & Regional Insights
The distributed natural gas-fueled generation market covered in this report is segmented –
1) By Technology: Natural Gas Gensets, Micro Turbine, Stationary Fuel Cells
2) By Scale: Microgeneration, Small-Scale Generation, Medium-Scale Generation, Large-Scale Generation
3) By End User: Residential, Commercial And Industrial, Building And Institutional
North America was the largest region in the distributed natural gas-fueled generation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global distributed natural gas-fueled generation market report during the forecast period. The regions covered in the distributed natural gas-fueled generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising usage of natural gas is expected to propel the growth of the distributed natural gas-fueled generation market going forward. Natural gas refers to a naturally occurring flammable gas that can be used as fuel or an energy source for many things, including heating, cooking, moving around, and producing power. Natural gas is mostly used for heating and producing power, but other consumer sectors also use it for other purposes. Natural gas is used in the fueled generation to create useful thermal output and generate electricity. For instance, in July 2022, according to the International Energy Agency (IEA), a France-based intergovernmental agency reports, between 2021 and 2025, global natural gas consumption is anticipated to increase by a total of 140 billion cubic meters. Therefore, the rising usage of natural gas is driving the growth of the distributed natural gas-fueled generation market.
Key Industry Players
Major companies operating in the distributed natural gas-fueled generation market report are General Electric Company, MWM GmbH, ABB Group, Cummins Inc., Plug Power System Inc., Shandong Lvhuan Power Equipment Co. Ltd., Redox Power Systems, Caterpillar Inc., Generac Power Systems, Mitsubishi Heavy Industries Ltd., Kohler Co. Inc., MTU Onsite Energy GmbH, Mahindra Powerol Ltd., Yanmar Co. Ltd., Coopercorp Generators, Siemens AG, Rolls-Royce Holdings PLC, Wärtsilä Corporation, MAN Energy Solutions SE, Kawasaki Heavy Industries Ltd., Sinopec, British Petroleum Company p.l.c, Chevron Corporation, Lukoil, Occidental Petroleum Corporation, ExxonMobil Corporation, Dakota Gasification Company, NRG Energy Inc., Air Liquide S.A., Aker Solutions ASA, Baker Hughes Company, Fluor Corporation, Halliburton, Honeywell International Inc., Japan CCS Co. Ltd., LanzaTech Inc., Royal Dutch Shell, Calix Limited
The distributed natural gas-fueled generation market report table of contents includes:
1. Executive Summary
2. Distributed Natural Gas-Fueled Generation Market Characteristics
3. Distributed Natural Gas-Fueled Generation Market Trends And Strategies
4. Distributed Natural Gas-Fueled Generation Market - Macro Economic Scenario
5. Global Distributed Natural Gas-Fueled Generation Market Size and Growth
6. Distributed Natural Gas-Fueled Generation Market Segmentation
7. Distributed Natural Gas-Fueled Generation Market Regional And Country Analysis
……………….
33. Key Mergers And Acquisitions In The Distributed Natural Gas-Fueled Generation Market
34. Distributed Natural Gas-Fueled Generation Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Distributed Natural Gas-Fueled Generation Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Distributed Natural Gas-Fueled Generation Market, Segmentation By Scale, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Distributed Natural Gas-Fueled Generation Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……….
Table 74: General Electric Company Financial Performance
Table 75: MWM GmbH Financial Performance
Table 76: ABB Group Financial Performance
Table 77: Cummins Inc. Financial Performance
Table 78: Plug Power System Inc Financial Performance
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