A recent report from Navigant Research analyzes the global market for natural gas (NG) generator sets (gensets) from less than 15 kW to 20 MW in size for residential, commercial, industrial, and utility applications by country.
A source of emergency standby, prime, peaking, or continuous power generation, NG gensets are used worldwide for distributed power production. The market for this technology is expected to show steady growth over the next 10 years despite a short-term slowdown due to volatility in the oil & gas market. According to a recent report from Navigant Research, the market for NG gensets is expected to total $147 billion from 2015 to 2024.
“The reciprocating engines used in NG gensets are used for many different types of distributed power generation, from small portable purposes to large, multi-megawatt installations,” says Taylor Embury, research analyst with Navigant Research. “NG gensets are also gaining ground in backup and standby application due to their reliable performance.”
Dual-fuel gensets are becoming increasingly popular, as they offer a middle ground between the high reliability of diesel fuel and the lower cost and emissions of NG, according to the report. One of the biggest hurdles for NG gensets to navigate is the current lack of NG infrastructure in emerging economies; dual-fuel gensets can serve as a bridge into these markets and lay the framework for more NG infrastructure to follow.