Revenues are to double by 2019 for the global gas genset market, new analysis has found.

According to a new report from Frost & Sullivan, the combined global residential, commercial and industrial gas genset market earned US$4.14 billion in 2013, and is estimated to reach $8.59 billion in 2019.
Deutz genset
Key drivers behind this projected growth include the US shale gas boom, increasing European biogas adoption, and market liberalisation coupled with a wide gap between power demand and supply in emerging countries, F&S said.

Among the developing regions, India and China have emerged as the largest genset production hubs, while Asia-Pacific will be the fastest growing and largest region for sales of commercial and residential gas gensets, the report predicts. 

‘Though technological improvements, such as the automatic control system, are making gas gensets 50% more expensive than their diesel counterparts, their reliability and lower lifecycle costs will keep demand high,’ said F&S energy industry analyst Pritil Gunjan.

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