The global gas generator market has been forecast to treble in value over the next eight years, increasing from $3 billion, to hit a market value of $9 billion by 2020.
Growth within the gas generator industry is being driven by exploding population figures and unprecedented economic growth, which are leading to power shortages in developing countries around the globe.
Furthermore, gas fuelled generators are low maintenance and create low levels of environmental pollution. For these reasons, gas generators are stepping up to the fill the void and as a result are experiencing a boom in sales.
Additionally, environmental regulations are expected to become more rigorous, not only in the North American and European markets, but in Asia as well, further driving gas generator sales.
India and China currently represent the major stakeholders of the global gas generator industry, with a combined market share of 30%. Both countries face a considerable power supply-demand gap, creating an attractive market for gas generator manufacturers.
Between now and 2020, the Indian gas generator industry is expected to jump in value from $1.2 billion to $2.54 billion, while the Chinese industry will climb from $2.4 billion to almost $5.5 billion. By 2020, the combined share of these two nations will have grown to 36% of the global gas generator market.
For more information on the global gas generator market, see the latest research: Global Gas Generator Market Report
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