China Gas Genset Market witnessed a boom in recent years on account of growing demand from the oil and gas sector on the back of increasing investments in the oil & gas industry. The on-shore and off-shore exploration projects and government initiatives such as natural gas and refined petro-products pipeline reform would boost the gas Genset market in China. However, the recent outbreak of COVID-19 in China is expected to have a significant impact on businesses and industries, as the country’s annual GDP growth is expected to slow down to between 5% and 5.5% for 2020, thus leading to reduced demand for gas Genset equipment in China market.
According to 6Wresearch, China Gas Genset Market is anticipated to grow with a CAGR of 8.8% during 2020-2026F. The Chinese government has come up with initiatives to increase 2019 capital investment in oil exploration by 20%, to $77 billion, in order to boost production in two oilfields. The Chinese government has a goal to increase its domestic production by 50%, up more than two million barrels per day, over the next five years. To improve domestic energy security, the ruling government has released several directives on deepening reform of the oil and gas industry (ONGI) in 2019, including more joint ventures and cooperation projects, introducing external funding, and promoting mixed ownership. Further, the Chinese government started $55 billion projects for the construction of a 3,000 km gas pipeline from Russia to China, which aimed to deliver gas to China in order to strengthen the gas supply infrastructure in the country, which in turn would also drive the demand for the gas Gensets in the country.
By application, gas Genset has significant penetration in residential complexes in China, thus increasing the population is anticipated to increase in demand for power backup, which in turn, is forecasted to fuel the demand for gas generators over the forecast period. Further, low emission of toxic gases such as carbon dioxide, carbon monoxide, methane, and phosgene, and low operating cost of residential gas Genset is increasing the preference for gas Genset in the Chinese market.
The China gas Genset market report thoroughly covers the market by kVA rating and applications. China gas Genset market outlook report provides an unbiased and detailed analysis of the on-going China gas Genset market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The China gas Genset market is expected to gain great market potential in the coming years as a result of rising awareness for the usage of clean fuel. The rising use of natural gas as a clean fuel along with a promise for sustainable future growth is gaining sight of many of the industries in the country and is instigating the use of the same for the betterment and the sustainable development of the country is anticipated to assist the gas Genset to gain huge demand projections in the coming years and as a result, is expected to leave a positive impact on the growth of the China gas Genset market in the upcoming six years.
China gas Genset market is expected to witness a proliferation in the coming timeframe as a result of the massive industrialization in the country. the advent of technological development along with the rise in the government initiative to bring in good economic prospects for the growth of the country and to bring about an industrial revolution has been proven evident in the adoption of gas Genset for a smooth workflow, integrated efficiency at work, versatility and agility. The increased use of natural gas is, thus, expected to drive demand for gas Gensets in the country which is expected not only to fulfill the demand for natural gas in the industries but also, leave a positive impact on the growth of China gas Genset market. Additionally, an increase to alleviate the demand-supply gap of widening electricity, the gas Gensets are anticipated to seek significant deployment numbers in the coming years and is expected to proliferate the market growth of the China gas Genset market in the upcoming six years and the timeframe thereafter.
China gas Genset market is projected to register sound revenues during the forecast period 2020-26F backed by the growing mining industry. The increased extraction process of metals and minerals like coal, lead, gold, and bauxite in the country by using construction equipment like an off-highway truck where and simultaneously rise in the demand for bearings for the construction equipment tends to ensure smooth extraction process and would benefit the growth of china bearing market in the coming years. Additionally, the rising automotive sector is expected to generate high sales revenue in the market owing to increased passenger vehicles and personal vehicle purchase in the market simultaneously rise in bearings which use in automotive vehicle part like in steering and gearbox and is expected to boost the significant growth of china gas geneset market in the upcoming six years.
Key Highlights of The Reports
- China Gas Genset Market Overview
- China Gas Genset Market Outlook
- China Gas Genset Market Forecast
- Historical Data of China Gas Genset Market Revenues & Volume for the Period 2015-2018.
- Market Size & Forecast of China Gas Genset Market Revenues & Volume, Until 2025.
- Historical Data of China Gas Genset Market Revenues & Volume, By kVA Rating, for the Period 2015-2018.
- Market Size & Forecast of China Gas Genset Market Revenues & Volume. by kVA Rating, Until 2025
- Historical Data of China Gas Genset Market Revenues & Volume, By Applications, for the Period 2015-2018.
- Market Size & Forecast of China Gas Genset Market Revenues, By Applications for the period 2015-2025
- Market Drivers and Restraints
- China Gas Genset Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- China Gas Genset Market Share, By Players
- China Gas Genset Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
The China gas Genset market report provides a detailed analysis of the following market segments:
- By kVA Rating
- Up to 100 kVA
- 100.1-375 kVA
- 375.1 – 1000 kVA
- Above 1000 kVA
- By Applications
- Power Utility
- Others (agriculture, public infrastructure)
Other Key Reports Available:
- Canada Gas Genset Market Report
- Brazil Gas Genset Market Report
- Argentina Gas Genset Market Report
- USA Gas Genset Market Report
- Japan Gas Genset Market Report
- Australia Gas Genset Market Report
- Bangladesh Gas Genset Market Report
- Germany Gas Genset Market Report
- Russia Gas Genset Market Report
- UK Gas Genset Market Report
- France Gas Genset Market Report
- Italy Gas Genset Market Report