Gas Engines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026


#6730

Transparency Market Research

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A gas engine is fundamentally an internal combustion engine which runs on gas fuel such as biogas, coal gas, landfill gas (or natural gas), and producer gas. It creates motive power. Usually, gas engines are heavy-duty industrial engines capable of running continuously at full load. A gas engine generator with a simple mechanism consists of an engine, a generator, and a heat exchanger. Gas engines primarily run on natural gas. Natural gas is one of the most important sources of energy. Natural gas is abundantly available. Also, it offers several environmental benefits. Natural gas is primarily composed of methane. On combustion, methane releases carbon dioxide and water vapor. Coal and oil have a high carbon ratio and high sulfur and nitrogen content. Hence, on combustion, they release higher levels of carbon, nitrogen oxide, and sulfur dioxide as well as ash particles. Gas engines are being increasingly used for power generation across the globe. Gas engines generate low emissions, minor vibrations, and create less noise. Their maintenance costs less expensive. Gas engines are efficient and economical for heavy-duty operations.

The rising demand for electricity with decline in natural gas prices is expected to drive the gas engines market during the forecast period. With rising urbanization and globalization, the work culture and lifestyle have changed, which has eventually increased the usage of electricity. Households, production & manufacturing companies, and electric vehicles are large consumers of electricity. Since electricity generation is one of the major uses of gas engines, the increasing consumption of electricity is likely to drive the gas engines market in the next few years. Additionally, increasing concerns about the environment are augmenting the gas engines market. Furthermore, several countries across the world have taken initiatives to reduce greenhouse gas (GHG) emissions, which has resulted in diminishing the usage of coal for energy generation. This also is expected to boost the demand for natural gas engines in the near future. However, exploration and supply of most of the world’s natural gas is concentrated in a few countries, which has resulted in price inequality for distributors. This factor is estimated to restrain the gas engines market during the forecast period. Additionally, factors such as concerns related to constant supply of natural gas and large difference between prices of natural gas and alternative fuels are likely to hinder the gas engines market from 2018 to 2026.

The gas engines market has been segmented based on power, fuel type, end-user, application, and region. In terms of power, the market has been classified into 0.5 MW–1.0 MW, 1.0 MW–2.0 MW, 2.0 MW–5.0 MW, 5.0 MW–10.0 MW, and 10.0 MW–20.0 MW. In terms of fuel type, the gas engines market has been segmented into natural gas, special gas, and others. In terms of end-user, the gas engines market has been categorized into utilities, manufacturing, oil & gas, and others. Based on application, the gas engines market has been segregated into co-generation, power generation, and others. Based on region, the gas engines market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is projected to dominate the global market throughout the forecast period, followed by Asia Pacific.

Some of the key players operating in the global gas engines market are Cummins Inc., Siemens Ltd., General Electric Company, Kawasaki Heavy Industries, Ltd., Caterpillar Inc., Wärtsilä, Rolls-Royce Holdings plc, Man SE, Mitsubishi Heavy Industries, Ltd., Deutz AG, Yanmar Co., Ltd., and Doosan Infracore. Key market players are focused on the development and introduction of innovative gas engines. Intelligent integration of components is also a recent trend in the gas engines market.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

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