Gas genset market growth forecast

Despite a short-term slowdown due to volatility in the oil and gas market, the natural gas-fired genset market is expected to show healthy growth during the next 10 years. According to a new report from Navigant Research, gas-fuelled gensets are poised for rapid growth, particularly in markets where inexpensive gas is widely available, such as the US.

Installations are expected to reach 27.2 GW by 2024 and generate $146.8 billion in cumulative revenue between 2015 and 2024.

In emerging economies, the key obstacle to the spread of gas-fired gensets is a lack of adequate gas infrastructure, the report concludes, noting that dual-fuel gensets are increasing in popularity as they offer the performance of diesel while taking advantage of the low price and low emissions of gas.

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