Sa. Mrz 2nd, 2024

increasing demand for reliable backup power solutions and aging generator fleet requiring maintenance & upgrades are likely to drive the market in the forecast period.

According to TechSci Research report, “Aftermarket Natural Gas Generator Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Aftermarket Natural Gas Generator Market stood at USD 10.08 billion in 2022 and is anticipated to grow with a CAGR of 8.19% in the forecast period.

One significant global aftermarket natural gas generator market driver is the increasing emphasis on environmental sustainability. Governments, businesses, and consumers alike are becoming more conscious of the environmental impact of energy generation. Natural gas generators are considered a cleaner-burning alternative to diesel or coal-powered generators, as they produce fewer greenhouse gas emissions and pollutants. As the world strives to combat climate change and reduce air pollution, there is a growing preference for natural gas generators, especially in regions with stringent emissions regulations.

This preference drives the demand for aftermarket services and solutions designed to enhance the environmental performance of existing generators. Aftermarket services in this context may include emissions control retrofits, such as selective catalytic reduction (SCR) systems or exhaust gas recirculation (EGR) systems, which help reduce nitrogen oxides (NOx) emissions. Additionally, service providers offer maintenance and upgrade options to ensure generators remain compliant with evolving environmental standards.

This focus on environmental sustainability not only benefits the planet but also creates a robust market for aftermarket natural gas generator solutions, fostering innovation and investment in emission-reduction technologies.

The global aftermarket natural gas generator market is driven by the increasing demand for reliable backup power solutions across various industries and applications. In an era characterized by heightened connectivity and digital dependence, uninterrupted power supply is critical. Natural gas generators have emerged as a favored choice for backup power due to their efficiency, reliability, and rapid startup capabilities. As extreme weather events, grid failures, and unforeseen emergencies become more frequent, businesses, data centers, healthcare facilities, and critical infrastructure providers are recognizing the necessity of having backup power sources.

Natural gas generators provide a dependable solution, offering cleaner emissions and lower operational costs compared to diesel generators. This demand for backup power drives the aftermarket market as generator owners seek maintenance services, replacement parts, and technology upgrades to ensure their generators are in optimal condition when needed. The aftermarket sector plays a crucial role in maintaining the reliability of natural gas generators, making it an indispensable component of the energy landscape.

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The Global Aftermarket Natural Gas Generator Market is segmented into type, application and region.

Based on type, The Service & Maintenance segment had the largest market share in 2022 & expected to maintain it in the forecast period. Natural gas generators are critical assets that provide backup power and support various applications, including industrial, commercial, and residential settings. Ensuring the reliable and continuous operation of these generators is paramount. Regular service and maintenance activities help prevent breakdowns, reduce downtime, and extend the operational lifespan of these assets, making them more cost-effective in the long run. Environmental regulations and emissions standards are becoming increasingly stringent worldwide.

Natural gas generators must comply with these standards to reduce their environmental impact. Service and maintenance activities include emissions-related inspections, adjustments, and servicing of emissions control systems. Staying compliant with these regulations is essential to avoid penalties and maintain a positive environmental reputation. Preventive maintenance is a proactive approach to identify and address potential issues before they lead to costly breakdowns. Regular inspections, lubrication, and parts replacement ensure that natural gas generators operate efficiently and reliably. This approach helps organizations avoid unexpected downtime and associated losses in productivity and revenue.

As energy efficiency gains importance in the global energy landscape, service and maintenance activities contribute to optimizing the performance of natural gas generators. Technicians can identify areas where improvements can be made to enhance the generator’s efficiency, reducing fuel consumption and operational costs.  Businesses and critical infrastructure facilities cannot afford power disruptions. Service and maintenance activities minimize the risk of generator failure during crucial moments, such as power outages or emergencies. This reliability ensures business continuity and helps maintain essential services, such as hospitals, data centers, and manufacturing plants.

Service and maintenance activities also involve keeping detailed records of a generator’s history, including service logs, parts replacements, and performance data. This information helps organizations effectively manage their generator assets, plan for future maintenance needs, and make informed decisions about upgrades or replacements. Service and maintenance contracts provide customers with peace of mind, knowing that their generators are in capable hands. Many organizations prefer to have ongoing service agreements with experienced technicians who are familiar with their specific generators. This confidence in service providers reinforces the dominance of service and maintenance activities.

Based on application, The Industrial segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Industries, such as manufacturing, mining, oil and gas, and chemical processing, rely heavily on a continuous and reliable power supply to maintain operations. Even brief power interruptions can lead to significant financial losses, production downtime, and safety hazards. Natural gas generators are a trusted source of backup and primary power in these sectors, ensuring uninterrupted operations and minimizing the risk of costly disruptions. Industrial facilities typically have high power demands, often requiring large-capacity generators.

Natural gas generators can be scaled to meet these demands efficiently, making them well-suited for industrial applications. The larger generator sizes commonly used in industry contribute to a significant market share in terms of both generator installations and aftermarket services. Industrial environments are often harsh and demanding, with generators operating in extreme temperatures, remote locations, or hazardous areas. This challenging operating environment necessitates regular maintenance, servicing, and component replacements to ensure the generators’ reliability and longevity.

As a result, industrial applications generate a substantial demand for aftermarket services to keep generators running optimally. Industrial sectors are subject to stringent emissions regulations and safety standards. Natural gas generators offer advantages in terms of lower emissions compared to other power sources like diesel or coal. However, compliance with emissions regulations requires specialized emissions control systems and regular maintenance to meet or exceed environmental standards. This further drives the demand for aftermarket services in the industrial sector.

Major companies operating in the Global Aftermarket Natural Gas Generator Market are:

  • Caterpillar Inc.
  • Cummins Inc.
  • Generac Holdings Inc.
  • GE Energy Power
  • Siemens AG
  • Wartsila Corporation
  • Yanmar Co., Ltd.
  • MTU Onsite Energy Corp.
  • Rolls-Royce Holdings plc
  • Kohler Co.

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“The Global Aftermarket Natural Gas Generator market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The global Aftermarket Natural Gas Generator market is primarily driven by the rising need for energy resilience in businesses and critical infrastructure. As power interruptions become more frequent due to extreme weather events and other disruptions, organizations seek reliable backup power solutions. Natural gas generators offer a dependable and efficient source of backup power, ensuring uninterrupted operations.

This demand fosters a thriving aftermarket sector, including services for maintenance, upgrades, and compliance with environmental regulations. In an increasingly interconnected and data-dependent world, energy resilience has emerged as a critical priority, making the aftermarket natural gas generator market a vital component of business continuity strategies. Therefore, the Aftermarket Natural Gas Generator market is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Aftermarket Natural Gas Generator Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Service & Maintenance, Repair, Overhaul & Remanufacturing, Upgrades & Modifications), By Application (Commercial, Industrial, Residential), By Region, By Competition”, has evaluated the future growth potential of Global Aftermarket Natural Gas Generator Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Aftermarket Natural Gas Generator Market.

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