Indonesia Gas Genset Market
The Indonesia gas genset market is experiencing significant growth, driven by increasing energy demand, rapid industrialization, and the need for reliable backup power sources. As Indonesia continues to develop its infrastructure and expand its manufacturing sector, the requirement for continuous and uninterrupted power becomes more critical. Gas gensets, which use natural gas or other forms of gaseous fuels, are gaining popularity as an alternative to traditional diesel generators due to their lower emissions and operational costs. The Indonesian government is also promoting cleaner energy solutions, in line with its energy diversification efforts and environmental regulations, making gas gensets an attractive option for industries and businesses.
The country’s abundant natural gas reserves further bolster the market, providing a steady and reliable fuel source for gas gensets. Key sectors driving demand include manufacturing, healthcare, and commercial buildings, where energy reliability is crucial for operations. Additionally, gas gensets are increasingly used in remote areas and islands that are not connected to the national grid, ensuring energy accessibility. Leading manufacturers and suppliers are expanding their presence in Indonesia, offering a wide range of gensets to meet the varied power needs of different sectors. However, challenges such as fluctuating gas prices and competition from other energy sources, such as renewables, could impact market growth in the future.
In 2023, the Gas Genset Market was estimated to be worth USD 11.3 billion. According to projections, the gas generator market business will expand at a compound annual growth rate (CAGR) of 4.44% from USD 11.87 billion in 2024 to USD 16.8 billion by 2032.
The global gas genset market report by Market Research Future (MRFR) provides a comprehensive overview of the industry combined with the impact of the COVID-19 pandemic over the forecast period (2023-2030).
Market Scope
The global gas genset market is expected to grow at ~5.00 % CAGR during the forecast period.
Segmentation
The global gas genset market has been segmented based on fuel, power rating, application, and end-user.
Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.
The global gas genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and above 1000 KVA.
Based on application, the global gas genset market is segmented into standby, peak shaving, and continuous. Standby segment led the global gas genset market in 2017.
By end-user, it is segmented into residential, industrial, and commercial. Residential segment is estimated to register the highest growth rate in the global gas genset market during the forecast period.
Regional Analysis
North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the gas genset market in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the gas genset market owing to rising natural gas production in Southeast Asian countries in the region.
Competitive Outlook
- Caterpillar
- Cummins
- Wartsila
- Siemens AG
- GE
- ABB
- Genrac Power Systems
- MTU Onsite Energy GmbH
- PARAMAC
- Himoinsa
- Sudhir Power
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