Global Aftermarket Natural Gas Generator market
Natural gas generator is used to create power source, using natural gas as a source of fuel. Natural gas generators are being adopted in various industries owing to their environmental benefits. With the growing complexity of maintenance and service of the natural gas generator, the demand for aftermarket services has become more crucial in the past few years. Aftermarket natural gas generator includes various services & solutions such as repair, service & maintenance and others.
Market Size and Forecast
Global aftermarket natural gas generator market reached USD 9,023.5 Million in 2016 by registering a CAGR of 9.2% across the globe. Moreover, the aftermarket natural gas generator market is expected to reach USD 17,975 Million by the end of 2024. However, growth and expansion of the industrial sector is propelling the demand for natural gas generator which is likely to escalate the demand for aftermarket natural gas generator across the globe.
Globally, Asia-Pacific aftermarket natural gas generator market is forecasted to hold top position in global aftermarket natural gas generator followed by Europe and North America. Economic growth of various industry verticals in the region is expected to swell the demand for natural gas generator during the forecast period. Further, China followed by India and Japan is anticipated to be largest aftermarket natural gas generator market during the forecast period.
Further, North America is expected to showcase a significant growth over the forecast period. Surging adoption of low emission generators as compared to diesel generators has strengthened the growth of aftermarket natural gas generators market in the region. Further, the government initiatives to encourage the use of clean energy products is bolstering the U.S. natural gas generator market which in turn is anticipated to impel the growth of the aftermarket natural gas generator market in the years ahead.
Europe aftermarket natural gas generator market is expected to expand at a significant CAGR of 8.9% during the forecast period i.e. 2017-2024. Rising infrastructure development is expected to be the key factor behind the growth of aftermarket natural gas generator in the Europe region. Further, infrastructure development and industrialization is projected to accelerate in the next few years. This factor is expected to fuel the growth of Europe natural gas generator market during the forecast period which in turn is anticipated to foster the growth of the aftermarket Europe natural gas generator market.
Market Segmentation:
In-depth analysis of the aftermarket global natural gas generator includes the following segments:
By Type
By Region
The global aftermarket natural gas generator is further classified on the basis of region as follows:
Growth Drivers and Challenges
Frequent service and maintenance associated with natural gas generator to ensure the flawless performance of the generator is expected to swell the demand for the aftermarket natural gas generator. Additionally, natural gas generators life expectancy gets reduced if servicing is not done annually. Natural gas generator owners are spending more on maintenance and repair to increase the life expectancy and maintain the high level productivity. Further, consumers prefer the original and high quality repair parts on the account of rising awareness about the reliability and performance of the genuine part. Moreover, this increasing adoption of genuine company parts for repair work is anticipated to foster the growth of aftermarket natural gas generator market.
The manufacturers are expanding their aftermarket service networks to provide better after-sales service to the consumer. Further, this rising number of aftermarket service centers across the globe is believed to impel the growth of the aftermarket natural gas generator market. Besides, relation between quality of after-sales and chances of customer to repurchase the products from the company is compelling the manufacturers to provide higher grade after-sales quality products, repair and service solutions. These factors are anticipated to fuel the growth of the aftermarket natural gas generator during the forecast period.
However, availability of local repair products from local manufacturers is significantly hampering the growth of the global aftermarket natural gas generator market. Further, presence of unauthorized service centers is anticipated to dampen the growth of aftermarket natural gas generator market over the forecast period.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global natural gas generator aftermarket is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
Key Answers Captured in Report?
Natural gas generator is used to create power source, using natural gas as a source of fuel. Natural gas generators are being adopted in various industries owing to their environmental benefits. With the growing complexity of maintenance and service of the natural gas generator, the demand for aftermarket services has become more crucial in the past few years. Aftermarket natural gas generator includes various services & solutions such as repair, service & maintenance and others.
Market Size and Forecast
Global aftermarket natural gas generator market reached USD 9,023.5 Million in 2016 by registering a CAGR of 9.2% across the globe. Moreover, the aftermarket natural gas generator market is expected to reach USD 17,975 Million by the end of 2024. However, growth and expansion of the industrial sector is propelling the demand for natural gas generator which is likely to escalate the demand for aftermarket natural gas generator across the globe.
Globally, Asia-Pacific aftermarket natural gas generator market is forecasted to hold top position in global aftermarket natural gas generator followed by Europe and North America. Economic growth of various industry verticals in the region is expected to swell the demand for natural gas generator during the forecast period. Further, China followed by India and Japan is anticipated to be largest aftermarket natural gas generator market during the forecast period.
Further, North America is expected to showcase a significant growth over the forecast period. Surging adoption of low emission generators as compared to diesel generators has strengthened the growth of aftermarket natural gas generators market in the region. Further, the government initiatives to encourage the use of clean energy products is bolstering the U.S. natural gas generator market which in turn is anticipated to impel the growth of the aftermarket natural gas generator market in the years ahead.
Europe aftermarket natural gas generator market is expected to expand at a significant CAGR of 8.9% during the forecast period i.e. 2017-2024. Rising infrastructure development is expected to be the key factor behind the growth of aftermarket natural gas generator in the Europe region. Further, infrastructure development and industrialization is projected to accelerate in the next few years. This factor is expected to fuel the growth of Europe natural gas generator market during the forecast period which in turn is anticipated to foster the growth of the aftermarket Europe natural gas generator market.
Market Segmentation:
In-depth analysis of the aftermarket global natural gas generator includes the following segments:
By Type
- Service & Maintenance
- Repair
- Others
By Region
The global aftermarket natural gas generator is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (GCC, North Africa and South Africa) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Frequent service and maintenance associated with natural gas generator to ensure the flawless performance of the generator is expected to swell the demand for the aftermarket natural gas generator. Additionally, natural gas generators life expectancy gets reduced if servicing is not done annually. Natural gas generator owners are spending more on maintenance and repair to increase the life expectancy and maintain the high level productivity. Further, consumers prefer the original and high quality repair parts on the account of rising awareness about the reliability and performance of the genuine part. Moreover, this increasing adoption of genuine company parts for repair work is anticipated to foster the growth of aftermarket natural gas generator market.
The manufacturers are expanding their aftermarket service networks to provide better after-sales service to the consumer. Further, this rising number of aftermarket service centers across the globe is believed to impel the growth of the aftermarket natural gas generator market. Besides, relation between quality of after-sales and chances of customer to repurchase the products from the company is compelling the manufacturers to provide higher grade after-sales quality products, repair and service solutions. These factors are anticipated to fuel the growth of the aftermarket natural gas generator during the forecast period.
However, availability of local repair products from local manufacturers is significantly hampering the growth of the global aftermarket natural gas generator market. Further, presence of unauthorized service centers is anticipated to dampen the growth of aftermarket natural gas generator market over the forecast period.
Key Players
- Briggs & Stratton Corporation
- - Company Overview
- - Key Product Offerings
- - Business Strategy
- - SWOT Analysis
- - Financials
- Caterpillar Inc.
- Cummins Inc.
- Generac Holdings, Inc.
- Kirloskar Oil Engines Ltd.
- Kohler Co.
- Doosan Corporation
- Multiquip Inc.
- Wärtsilä Corporation
- General Electric Company
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global natural gas generator aftermarket is segmented as follows:
- By Type Market Size & Y-O-Y Growth Analysis
- By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
Key Answers Captured in Report?
- Which geography would have better demand for product/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in near future?
- What is the impact analysis of various factors in the market growth?
- What are the recent trends in the regional market and how successful they are?
Table of Contents
1. Executive Summary2. Research Methodology5. Global Natural Gas Generator Aftermarket Market Size (USD Million) and Forecast, 2016-20248. Porter’s Five Force Model Analysis
3. Risk Analysis
4. Top Countries with Highest demand for Natural Gas Generator Aftermarket- By Region
6. Market Dynamics & Its Impact Analysis
7. Global Market Segmentation Analysis
9. Competitive Landscape
Companies Mentioned
- Briggs & Stratton Corporation
- Caterpillar Inc.
- Cummins Inc.
- Generac Holdings, Inc.
- Kirloskar Oil Engines Ltd.
- Kohler Co.
- Doosan Corporation
- Multiquip Inc.,
- Wärtsilä Corporation
- General Electric Company
