First, the imbalance in the supply and demand structure of global energy has led to an increase in demand for gas generating units. The global power generation technology has great demand, the lower electrification rate and the spread of the grid installation are the two main driving factors. The problem of electrification is more prominent in the Middle East, Central Asia and Latin America, because there are no corresponding governments and agencies in these areas to solve these increasing population needs.
Second, the demand for energy efficiency provides an opportunity for growth for gas generating sets. The reduction of carbon dioxide emissions is gaining increasing recognition. In some developed countries and regions, such as North America and the European Union, the national policies to meet emission standards have been well established. One of the most important ways to reduce carbon dioxide emissions is electricity generated by efficient cleaning, and the end consumers use the electricity directly. This will promote the sales of gas generating units.
Finally, some specific applications of gas generating units will also face growth. Some special gases, such as biogas and landfill gas, now occupy only a small part of gas generating units, but these areas are steadily increasing and provide new opportunities for market participants, especially in Europe and other mature markets.
Higher operating and maintenance costs have limited the growth of the market. One of the main factors that impede the development of gas generating sets is that the development of technology is still not fast enough, and the average cost of gas generating sets is still high. Although the competition pattern of gas generating units relative to diesel engines is expected to be improved during the prediction period, the gas generating units are still 50% more expensive than their competitors. Nevertheless, it is worth mentioning that the terminal users of gas generators have begun to realize that they can save some cost from maintenance, and begin to pay attention to the overall cost of equipment life.