Global Gas-Fired Construction Generator Set Market Overview:
As per MRFR analysis, the Gas-Fired Construction Generator Set Market Size was estimated at 1.67 (USD Billion) in 2022. The Gas-Fired Construction Generator Set Market Industry is expected to grow from 1.77 (USD Billion) in 2023 to 3.0 (USD Billion) by 2032. The Gas-Fired Construction Generator Set Market CAGR (growth rate) is expected to be around 6.04% during the forecast period (2024 - 2032).
Key Gas-Fired Construction Generator Set Market Trends Highlighted
The gas-fired construction generator set market is projected to witness significant growth, driven by the increasing demand for reliable and portable power sources in construction projects. The growing adoption of environmentally friendly technologies, stringent emission regulations, and the need for efficient power generation are shaping the market dynamics.Key market drivers include the rising demand for off-grid power supply in remote construction sites, the preference for natural gas as a cleaner fuel source, and the increasing use of backup generators for critical infrastructure.
Additionally, technological advancements such as the development of more efficient and compact generators are creating new opportunities for growth.Recent trends in the gas-fired construction generator set market include the integration of renewable energy sources, such as solar and wind power, to complement gas-fired generators. Hybrid systems offer enhanced reliability and reduced carbon emissions. Furthermore, the adoption of smart technologies for remote monitoring and control of generators is simplifying operations and improving efficiency
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gas-Fired Construction Generator Set Market Drivers
-
Rising Demand for Reliable Power Supply in the Construction Industry
The construction industry requires a constant and reliable power supply, as this is essential for executing projects effectively and within the scheduled time frame. Gas-fired construction generator sets are dependable and continuous power sources in this context. Applications can be found in case of a power grid breakdown and on construction sites that have no grid connectivity. At present, more construction projects are being implemented across the globe, especially in developing countries.As a result, there will be a growing demand for reliable sources of power, which will increase the growth of the Global Gas-Fired Construction Generator Set Market Industry.
Stringent Environmental Regulations
Governments worldwide are implementing stringent environmental regulations to reduce greenhouse gas emissions and promote sustainable practices. Gas-fired construction generator sets offer a cleaner alternative to diesel generators, as they produce fewer emissions and have a lower carbon footprint. The growing adoption of these environmentally friendly generators is expected to drive market growth over the forecast period.
Technological Advancements and Innovation
Technological advances and innovations concern the reengineering and equipment of gas-fired construction generator sets, contributing to accelerating the generator's overall efficiency and productivity. In comparison, manufacturers focus on producing generators with higher efficiency, less fuel consumption, and lower emissions, as well as more other-friendly noise levels. Implementation of these objectives makes gas-fired generators more environmentally friendly as well as more value-effective.These trends contribute to the overall growth of the Global Gas-Fired Construction Generator Set Market Industry.
Gas-Fired Construction Generator Set Market Segment Insights:
Gas-Fired Construction Generator Set Market Fuel Type Insights
The scope of reaching the Gas-Fired Construction Generator Set Market for the Fuel Type segment comprises Natural Gas, Propane, and Diesel. Natural Gas is the most preferred fuel type by reaching the Global Gas-Fired Construction Generator Set Market with around 58.3% in 2023. The high preference toward adopting natural gas is that it is abundant in availability, cost-effective, and also environmentally friendlier than the other fuel types. The Global Gas-Fired Construction Generator Set Market revenue for Natural Gas is estimated to reach USD 1.2 billion by 2032, growing at a CAGR of 5.7% during the forecast period.
The increasing demand for critical infrastructure such as hospitals, data centers, airports, and banks coups the segment growth at a higher rate. Propane is also the most preferred fuel type as it is used in the gas-fired construction generator sets for both the applications in which natural gas is not available and portable applications. The revenue share of the Propane segment is estimated to reach around 26.5% by 2023. The Global Gas-Fired Construction Generator Set Market revenue is estimated to reach USD 650 million by 2032, at a CAGR of 5.6% from 2024 to 2032.
Further, the adaptability to harsh environmental conditions with the lower generation of noise also increases the segment growth. Finally, the revenue share of the Diesel segment is estimated to reach around 15.2% in 2023. The revenue for Diesel growth is estimated to exhibit a CAGR of 4.8% by 2032, reaching revenue of USD 350 million in 2032. The demand for the traditional fuel type increases as they are more reliable, sturdy, and have a long life when compared to other alternatives.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gas-Fired Construction Generator Set Market Power Output Insights
The Global Gas-Fired Construction Generator Set Market is segmented into various power output ranges to meet the diverse requirements of construction sites. These power output segments include Less than 100 kW, 100-250 kW, 250-500 kW, 500-1000 kW, and Greater than 1000 kW. Each segment represents a specific set of applications and market dynamics. The power output segment of Less than 100 kW is expected to account for a significant share of the Global Gas-Fired Construction Generator Set Market revenue due to its wide applicability in small-scale construction projects and backup power systems.
The segment is driven by the increasing demand for portable and compact power sources in remote areas and for temporary power requirements. The 100-250 kW power output segment is also expected to witness steady growth, driven by its use in medium-sized construction projects and industrial applications. This segment offers a balance between power output and fuel efficiency, making it suitable for a wider range of applications. The 250-500 kW power output segment caters to larger construction projects and industrial facilities. These generators provide higher power output and are often used as primary power sources or for backup power during outages.
This segment is expected to grow significantly due to the increasing demand for reliable and efficient power supply in the construction industry. The 500-1000 kW power output segment finds application in large-scale construction projects and industrial complexes. These generators offer high power output and are often used in critical applications where an uninterrupted power supply is essential. The segment is expected to experience steady growth as construction projects become more complex and require higher power consumption.
The Greater than 1000 kW power output segment caters to the most demanding construction projects and industrial applications. These generators provide extremely high power output and are often used for large-scale operations, data centers, and critical infrastructure. This segment is expected to grow at a moderate pace as the demand for high-power generators increases in the construction industry.
Gas-Fired Construction Generator Set Market Application Insights
By application, the construction segment held the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The rising demand for gas-fired construction generators in infrastructure development, commercial construction, and residential construction projects is primarily driving the segment's growth. Gas-fired generators offer several advantages, including fuel efficiency, cost-effectiveness, and reduced emissions compared to diesel-powered generators, making them an attractive choice for construction sites. Additionally, stringent environmental regulations and the increasing adoption of sustainable construction practices are further propelling the demand for gas-fired construction generators.
Gas-Fired Construction Generator Set Market End User Insights
The Global Gas-Fired Construction Generator Set Market Segmentation by End User includes Contractors, Rental Companies, Utilities, and Industrial Facilities. Among these segments, Contractors held the largest market share in 2023, with a significant contribution to the overall Gas-Fired Construction Generator Set Market revenue. The demand for construction generators from contractors is driven by the increasing construction activities worldwide, particularly in developing economies.
Rental Companies are another major end-user segment, as they provide generators on a rental basis to various industries, including construction, events, and disaster relief. Utilities, which include power generation and distribution companies, also represent a significant segment of the Gas-Fired Construction Generator Set Market, as they utilize generators for backup power and peak demand management. Lastly, Industrial Facilities, such as manufacturing plants and data centers, rely on generators for uninterrupted power supply and emergency backup. The growth in these end-user segments is expected to drive the overall Gas-Fired Construction Generator Set Market in the coming years.
Gas-Fired Construction Generator Set Market Regional Insights
The Global Gas-Fired Construction Generator Set Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in the coming years, owing to the increasing demand for reliable and efficient power supply in the region. The growing construction industry in North America is also driving the demand for gas-fired construction generator sets, as they are widely used to provide temporary power to construction sites. Europe is another major market for gas-fired construction generator sets, with a significant demand for these products in countries such as Germany, France, and the United Kingdom.
The stringent environmental regulations in Europe have led to an increased preference for gas-fired generators, which have lower emissions compared to diesel generators. The APAC region is also witnessing a growing demand for gas-fired construction generator sets, with countries such as China, India, and Japan being the key markets. The rapid urbanization and industrialization in the APAC region are driving the demand for reliable and efficient power supply, which is leading to an increased adoption of gas-fired construction generator sets.
South America and MEA are also expected to witness a steady growth in the demand for gas-fired construction generator sets in the coming years as these regions continue to invest in infrastructure development and construction projects. The increasing demand for reliable and efficient power supply in remote areas is also driving the demand for gas-fired construction generator sets in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gas-Fired Construction Generator Set Market Key Players And Competitive Insights:
Major players in the Gas-Fired Construction Generator Set Market are continuously focusing on product innovation and advancements. Leading Gas-Fired Construction Generator Set Market companies are investing in research and development to introduce new technologies to cater to the changing demands of end-users. The gas-fired Construction Generator Set Market is a highly competitive market characterized by demand for quality and better-performing products.
Key players are adopting several strategies, such as mergers and acquisitions, partnerships, and joint ventures, to expand their presence and gain a larger share of the market. The Competitive Landscape of the Gas-Fired Construction Generator Set Market is expected to remain dynamic, with the entry of new players and the consolidation of existing ones shaping the industry
Cummins is one of the prominent players in the Gas-Fired Construction Generator Set Market. The company offers a wide range of gas-fired generator sets, from small portable units to large industrial models. Cummins is a global company and is known for producing high-quality products and providing excellent customer service. Cummins has an extensive network of distributors and service centers around the world, which allows the company to provide timely and efficient support to its customers.
Cummins is also committed to innovation and invests heavily in research and development to improve the efficiency and performance of its products. The company is also expanding its product range by introducing new technologies such as hybrid and alternative fuel generators. Caterpillar is another major player in the Gas-Fired Construction Generator Set Market. The company offers a full range of gas-fired generator sets for complete applications.
Caterpillar's generator sets are known for the durability, reliability, and performance that customers demand. Caterpillar is a global company with a wide reach and an extensive distribution network. Caterpillar is also committed to innovation and invests heavily in research and development to improve the efficiency and fuel economy of its products. The company is further expanding its product line by introducing new technologies such as microgrids and distributed generation systems.
Key Companies in the Gas-Fired Construction Generator Set Market Include:
- Multiquip
- Hipower Equipment
- Cummins
- Doosan Portable Power
- Terex Corporation
- Pramac S.p.A
- Denyo Co., Ltd.
- Atlas Copco Specialty Rental
- Generac Power Systems
- Ingersoll Rand
- Atlas Copco
- Caterpillar
- Wacker Neuson
- Kohler
Gas-Fired Construction Generator Set Market Industry Developments
The Global Gas-Fired Construction Generator Set Market is projected to grow from an estimated USD 1.77 billion in 2023 to USD 3.0 billion by 2032, exhibiting a CAGR of 6.04% during the forecast period. This growth is attributed to the increasing demand for reliable and efficient power generation in remote areas, construction sites, and emergencies.
The market is also witnessing a rise in demand for environmentally friendly and fuel-efficient generator sets. Key recent developments in the market include the launch of new products by major players, such as the introduction of a new range of gas-fired generator sets by Caterpillar in 2023. Additionally, several government initiatives aimed at promoting the adoption of clean energy sources are expected to drive market growth in the coming years.
Gas-Fired Construction Generator Set Market Segmentation Insights
Gas-Fired Construction Generator Set Market Fuel Type Outlook
- Natural Gas
- Propane
- Diesel
Gas-Fired Construction Generator Set Market Power Output Outlook
- Less than 100 kW
- 100-250 kW
- 250-500 kW
- 500-1000 kW
- Greater than 1000 kW
Gas-Fired Construction Generator Set Market Application Outlook
- Construction
- Mining
- Oil and Gas
- Utilities
- Emergency Backup
Gas-Fired Construction Generator Set Market End User Outlook
- Contractors
- Rental Companies
- Utilities
- Industrial Facilities
Gas-Fired Construction Generator Set Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.67 (USD Billion) |
| Market Size 2023 |
1.77 (USD Billion) |
| Market Size 2032 |
3.0 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Multiquip, Hipower Equipment, Cummins, Doosan Portable Power, Terex Corporation, Pramac S.p.A, Denyo Co., Ltd., Atlas Copco Specialty Rental, Generac Power Systems, Ingersoll Rand, Atlas Copco, Caterpillar, Wacker Neuson, Kohler |
| Segments Covered |
Fuel Type, Power Output, Application, End User, Regional |
| Key Market Opportunities |
1 Growing demand for reliable power sources in remote construction sites2 Increasing focus on reducing carbon emissions3 Government incentives and regulations promoting gas-powered generators4 Integration with renewable energy systems5 Advancements in technology and efficiency |
| Key Market Dynamics |
Increased infrastructure investments, growing demand for backup power, technological advancements, favourable government policies, and expanding application areas. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Gas-Fired Construction Generator Set Market is expected to reach USD 3.0 billion by 2032, growing at a CAGR of 6.04% from 2024 to 2032.
The key drivers of the Global Gas-Fired Construction Generator Set Market include increasing demand for electricity in remote areas, rising construction activities, and stringent emission regulations.
Gas-fired construction generator sets are primarily used to provide backup power to construction sites, data centers, hospitals, and industrial facilities
The key competitors in the Global Gas-Fired Construction Generator Set Market include Caterpillar, Cummins, Generac, Kohler, and Atlas Copco.
North American region is expected to dominate the Global Gas-Fired Construction Generator Set Market, followed by North America and Europe.
Key trends in the Global Gas-Fired Construction Generator Set Market include the adoption of advanced technologies, increasing demand for rental services, and growing focus on sustainability.
The COVID-19 pandemic had a negative impact on the Global Gas-Fired Construction Generator Set Market due to disruptions in supply chains and construction activities.
Growth opportunities in the Global Gas-Fired Construction Generator Set Market include expanding into emerging markets, developing innovative products, and focusing on after-sales services.
Challenges faced by the Global Gas-Fired Construction Generator Set Market include competition from diesel-powered generators, fluctuating fuel prices, and stringent environmental regulations.
The future outlook of the Global Gas-Fired Construction Generator Set Market is positive, driven by increasing demand for electricity, rising construction activities, and growing adoption of cleaner energy sources.
