A gas engine is basically an internal burning engine that produces motive power by using variability of natural gasses like coal, fuel. 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. The stringent emission rules & regulations, low fuel cost, and growing environmental concerns are some of the major factors driving the growth of the gas engines market in the European region. The growth of 1 MW–2 MW gas engine market largely attributed to the increasing demand for continuous power from small to mid-range manufacturing facilities, commercial buildings, and hospitals. Furthermore, initiatives taken by several countries across the globe to reduce greenhouse emissions that have resulted in diminishing the use of coal for energy generation will also boost the demand for natural gas engines.
Natural gas fuel type segment holds the largest market share of the gas engines market during the forecast period
Natural gas is one among the foremost important source of energy. Owing to increasing environmental concerns gas engines primarily run on natural gas. 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. 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. 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.
Europe accounts for the largest market size in the global gas engines market during the forecast period.
Europe is the leading region during the forecast period 2019-2025. Owing to stringent environmental, increasing demand for clean energy, the shift of energy focus from coal to natural gas, and temporary shutting down of nuclear power plants. Germany dominates the gas engine market in Europe. 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. The Asia Pacific gas engines market is mainly driven by the growing electricity demand in the region and declining natural gas prices. The growing consumption and production of natural gas across the Asia Pacific region is a key factor which is decreasing the natural gas prices.
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.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global gas engine market size & forecast. The report promises to provide state-of-the-art technology of gas engine and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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