Gas Engines Market presents promising growth prospects and estimated to gain traction over the forecast period 2019-2025. Owing to the rising demand for clean power generation, development of commercial infrastructure increased adaptation of biogas and landfill gas in power generation and increased use of natural gas in the power industry.
The demand for reliable and clean electricity is growing across the globe on account of industrial expansion and development. Emerging countries, such as India and China are aggressively investing in gas transport infrastructure in order to ensure a reliable and continuous supply of the gas, which in turn is expected to assist with driving the gas-fired power generation market. As engines are widely used in utilities, oil and gas, manufacturing, hospitals, and commercial complexes.
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Among Application, Power Generation segment holds the largest market share of the Gas engines market during the forecast period.
On the basis of fuel type, gas engine market is segmented into Power Generation, Co-generation, Mechanical Drive and Others. Power Generation is the dominating segment and anticipated to lead the market over the forecast period 2019-2025. Owing to their high efficiency for higher power generation capacity. The principle of operation of a gas engine power plant is similar to that of any four-stroke engine in a motorcar. Its fuel, however, is natural gas. The natural gas is kept under pressure according to the demand of engine and it is supplied to the cylinder mixed with air necessary for combustion. Manufacturing plants, commercial buildings, public buildings, and utilities are mainly deploying gas engine for power generation application. The gas engines are appropriate for base load, grid support, combined cycle, peak shaving, and distributed power generation applications. Gas engines compared with the diesel engine, have advantages in reducing the emission of pollutants and reducing costs.
Natural gas fuel type segment holds the largest market share of the gas engines market during the forecast period
Based on fuel type, the gas engines market is bifurcated into Natural Gas & Special Gas. Owing to increasing environmental concerns gas engines primarily run on natural gas. Natural gas is one among the foremost important source of energy. The Environment Protection Agency has declared natural gas as the cleanest of all fossil fuels. Natural gas engines are those engines that intake natural gas for power production. Emerging countries, such as India and China are aggressively investing in gas transport infrastructure in order to ensure a reliable and continuous supply of the gas, which in turn is expected to assist with driving the gas-fired power generation market. The low fuel prices and the comparatively lower carbon emissions from natural gas are projected to act as major drivers for the global market growth, throughout the forecast period.
Europe accounts for the largest market size in the global gas engines market during the forecast period.
Geographically, the gas engines market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is the leading region during the forecast period 2019-2025. Owing to stringent environmental norms which led to the use of renewable resources like biogas, landfill gas, and sewer gas for power generation. The mainstream of the gas engine makers rely on global power generation demand and the high volatility in natural gas costs has become a major restraining factor affecting the growth of the gas engine market. The countries in the European region are committed to the Paris Climate deal, which is a big boost for clean power technologies. Furthermore, the total cost of ownership of gas engines is lesser than diesel engines due to the former’s cheaper operating cost, which ensures more efficient power generation.
Objective of the Study:
- To analyze and forecast market size of the Global Gas Engines market, in terms of value & volume.
- To examine the careful market segmentation and forecast the market size, in terms value, on the basis of region by segmenting Gas Engines market into five regions, namely, North America, Europe, Asia Pacific, Middle East and their leading countries.
- To outline, categorized and forecast the global Gas Engines market on the basis of fuel type, application, end-user, and power.
- To examine competitive developments like expansions, technological advancement, services, and regulative framework within the global gas engines market.
- To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
- To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
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Global Gas Engine Market Competitive Landscape
Companies such as Caterpillar Inc, General Electric Company, Cummins Inc, Wärtsilä Corporation, Kawasaki Heavy Industries Ltd, JFE Holdings Inc, Niigata Power Systems Co. Ltd, Rolls-Royce Holdings Plc, Siemens AG, MAN SE, Liebherr Group, Kawasaki Heavy Industries, Ltd., Deutz AG, and Doosan Infracore are the key players in manufacturing gas engine globally.
Scope of the Report
By Fuel Type
- Natural Gas
- Special Gas
- Power Generation
- Mechanical Drive
- Oil & Gas
- 5 MW-1.0 MW
- 0 MW -2.0 MW
- 0 MW-5.0 MW
- 0 MW-10.0 MW
- 0 MW-20.0 MW
In addition, the report provides analysis of the Gas Engines market with respect to the following geographic segments and their high performing regions:
- North America
- Asia Pacific (APAC)
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