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Construction : What's up | February 2016 | Source : Equipment India

Global gas genset market to grow at 9.53percentage CAGR

Global gas genset market is experiencing a steady growth owing to electricity demand supply gap, need to generate power from cleaner source of energy, infrastructure development and fast growth in industrialisation and commercialisation sector. The instability in the present power infrastructure throughout the world, including advanced economies such as the US and Europe along with developing economies such as China and India are fostering the growth for global gas genset market.

According to 6Wresearch, global gas genset market is forecast to grow at a CAGR of 9.53 per cent during 2016-22. The increasing demand for power in developing regions such as Middle East and Africa, Asia-Pacific and Eastern Europe are spurring high demand for gas gensets. Inadequate grid infrastructure, rising industrialisation and commercialisation along with increasing electricity demand supply gap are few market drivers.

 
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