Top Natural Gas Generator Companies

Global Natural Gas Generator Market size was valued at USD 8.6 Billion in 2023 and is poised to grow from USD 9.7 Billion in 2024 to USD 23.1 Billion by 2032, growing at a CAGR of 11.4% in the forecast period (2025-2032).

With companies concentrating on product design, hybrid systems integration, and local growth, the global natural gas generator market is highly concentrated. Major investments are being undertaken in digital technologies, compliance designs to minimize emissions, and AI-based monitoring systems. For instance, strategic alliances and acquisitions are increasingly becoming the norm. While Caterpillar emphasized hybrid generator solutions for upcoming markets microgrid applications for better efficiency and lower emissions, Cummins entered the expanded lineup of cleaner gensets in 2024. 'Generac', 'Enervenue', 'Schneider Electric', 'HIMOINSA', 'Cummins Inc.', 'Caterpillar Inc.', 'Wärtsilä Corporation', 'Rolls-Royce Power Systems (MTU)', 'Briggs & Stratton Corporation', 'GE Vernova', 'Siemens Energy', 'Mitsubishi Heavy Industries, Ltd.', 'MAN Energy Solutions'

The demand for backup power on a reliable basis is growing exceedingly fast as the frequency of hard weather conditions and system outages increases. Generators fueled with natural gas are being installed more frequently by households, businesses, and industries for the purpose of maintaining continuous operation. For example, Texas witnessed general disruptions throughout the 2024 winter storms, prompting companies and residents to spend money on clean backup, such as natural gas generator sets, to ensure future business continuity.

Hybrid Energy Systems' Development: More companies are developing hybrid microgrid systems by combining natural gas generators and solar photovoltaic and battery storage. They provide better energy management, reduced emissions, and higher efficiency. To supply factory backup, Enervenue collaborated with California industrial customers in 2024 to build hydrogen-compatible battery + gas generator microgrids.

Why Is North America a Key Player in the Natural Gas Generator Market?