Global Gas Engine Market – Overview
A gas engine is an internal combustion engine that runs on a gaseous fuel such as coal gas, producer gas, biogas, landfill gas, and natural gas. The application of gas engines is becoming more extensive with the increasing development of natural gas technologies. Growing awareness towards environmental sustainability and rising demand for natural gas bolstering the need for the gas engine in the global market. Renewable energy is the fastest-growing source of energy, offering nearly half of the growth in global energy supplies. In the coming year, alternative fuels are anticipated to substitute conventional fuels concerning environmental issues and energy demand. Attributed to significantly high energy density and lower emission, the natural gas engine technologies are foreseen to auger well in the global gas engine market. Moreover, gas engines are suitable for grid support, baseload, and distribution power generation applications. Gas engines, as compared to diesel engines, have advantages in reducing the emission of pollutants and reducing costs. The prominent gas engine manufacturers continue to make efforts to comply with increasingly stringent emission regulations; engineers ought to design the gas engines that would reach a lower level of pollutants that are released. Ascribed to the factors as mentioned above, the global market for the gas engine market is foreseen to auger well over the forecast period.
Global Gas Engine Market – Market Dynamics
There are multiple applications, such as combined heat and power plants, automotive industry, marine industry, and the manufacturing sector. However, the demand for Liquefied natural gas engines for marine vessels is witnessing significant growth. Owing to the stringent emission government norms, the need for alternative fuels based gas engine is also gaining traction. Among other alternative fuels, natural gas has become the most favorable energy source capable of matching the energy density and combustion-related issues in the engine. As a result of which high demand for the natural gas engine is foreseen over the forecast period. Demand for electricity grows relatively rapidly because of its versatility and efficiency in end-use and the fact that, for some purposes, electricity is the only usable energy source. According to IEA, the demand for electricity rose by 4% in 2018, nearly twice as fast as overall energy demand. Such an increasing need for electricity is foreseen to propel the demand for gas engine powered electric generators. However, price differences among different regions and inconsistent availability and supply of gaseous fuel are some of the prominent factors that could hamper the overall market growth over the forecast period.
Global Gas Engine Market – Regional Analysis
The demand for renewable sources of energy in developed regions is more in Europe and North America. Both the areas are transforming there power generation units form coal-fired plants to renewable sources of energy. As a result, natural gas engines are anticipated to whiteness significant growth in North America and Europe gas engine market. However, owing to the growing penetration of CNG powered vehicles, developing nations such as India and China in the Asia Pacific region are also foreseen to create significant growth avenues in the gas engine market over the forecast period.
Global Gas Engine Market – Key Segmentation
The global gas engine market can be segmented on the basis of fuel type, power output, end-user, and by application.
According to fuel type, the Gas Engine Market can be segmented as:
- Natural Gas
- Special Gas
According to power output, the Gas Engine Market can be segmented as
- < 5 MW
- 5 – 10 MW
- > 10 MW
According to end-user, the Gas Engine Market can be segmented as
- Oil & Gas Applications
According to application, the Gas Engine Market can be segmented as
- Power generation
Global Gas Engine Market – Key Manufacturers
The global gas engine market appears to be a bit fragmented in nature, as many manufacturers are involved in the production of gas engines. In many of the developed economies the prominent market players are actively engaged for the launching energy efficient gas engines some of them are- Caterpillar Inc., Cummins Inc., Doosan Infracore General Electric Company, Kawasaki Heavy Industries, Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries, Wartsila Corporation, Perkins Engines, Cummins Corporation, Liebherr Group, Waukesha Engine, Deutz AG.
The research report presents a comprehensive assessment of the gas engine market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated gas engine market data. It also contains projections using a suitable set of assumptions and methodologies. The gas engine market report provides analysis and information according to market segments such as fuel type, power output, end user, and by application.
The Gas Engine Market Report Covers Exhaustive Analysis On:
- Market Segments in the Gas Engine Market
- Gas Engine Market Dynamics
- Gas Engine Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Technology in the Gas Engine Market
- Value Chain of the Gas Engine Market
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Rest of LatAm)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest of South Asia)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The gas engine market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The gas engine market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The gas engine market report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of the parent market
- Changing gas engine market dynamics in the industry
- In-depth gas engine market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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