Global Gas Generator Market was Valued at $3.7 Billion in 2014

The global gas generator market was valued at $3.7 billion in 2014. It grew from $2 billion in 2006, registering a Compound Annual Growth Rate (CAGR) of 8.1%. The US, Brazil and China were the largest contributors; their combined share accounted for 54% of the market, which will rise further during the forecast period to 2025. Local generator vendors find it difficult to compete with global giants such as GE Group, CAT Group and Cummins. A favorable factor for these established manufacturers is the complexity of the technology, which makes gas generators costly products. As a result, small manufacturers struggle to enter the market due to the high capital requirement. The other significant factor is safety concerns, which reduces customer confidence in local manufacturers.