Gas Engine Market size worth $ 6.59 Billion, Globally, by 2028 at 5.53% CAGR: Verified Market Research®

Growing demand for efficient power generation technology, with the growing population and stricter emission regulations, are the factors driving the market growth of the Gas Engines Market.

JERSEY CITY, N.J., April 25, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Gas Engine Market" By Power Output (0.5 MW–1 MW, 1 MW–2 MW), By Fuel Type (Natural Gas, Special Gas), By Application (Co-generation, Power Generation), and By Geography. According to Verified Market Research, the Global Gas Engine Market size was valued at USD 4.29 Billion in 2020 and is projected to reach USD 6.59 Billion by 2028, growing at a CAGR of 5.53% from 2021 to 2028.

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Browse in-depth TOC on "Gas Engine Market"
202 - Pages
126 – Tables
37 – Figures

Global Gas Engine Market Overview

The primary factor driving the market growth is the growing demand for efficient power generation technology; the increasing population with increasing power consumption in developing countries like China, India, Brazil, and Mexico has increased the market growth. Also, because of the expansion of developed countries and increasing living standards, which increases the demand for electricity waves, many counties across the globe are expanding their power generation capacities by raising the ability of the existing plant or installing new plants.

Because of stringent government regulations about carbon emissions, companies are moving towards using renewable energy sources for electricity generation and mainly prefer gas-based engines to use natural gas as fuel sources are the factors driving the market growth. Another factor is driving the growth of the market is the increasing demand for gas-fired power generation technology and the rising focus on lowering carbon emissions. Natural gas-based engines provide a high operational rate, fast start-up, and adaptable load efficiency as per the power need are the factors increasing the growth of the market.

Key Developments

• On March 2020, Doosan Corporation launched a new 'Euro 6' electronic engine to target commercial vehicles. The launch helps the company increase the business's sales by the production of new products in the market.
• On May 2021, Clarke and Innio Jenbacher inaugurated a gas engine to power a pasta factory in Douala, Cameroon. Fuelled by natural gas, the J320 engine delivers reliable, onsite power to the facility.

Key Players

The major players in the market are General Electric Company, Wartsila Corporation, Cummins Inc., MAN SE, Kawasaki Heavy Industries, Ltd., JFE Holdings, Inc., Niigata Power Systems Co., Ltd., Caterpillar, Inc., Rolls-Royce Holdings Plc, and Siemens AG.

Verified Market Research has segmented the Global Gas Engine Market On the basis of Power Output, Fuel Type, Application, and Geography.

• Gas Engine Market, By Fuel Type
• Natural Gas
• Special Gas
• Others
• Gas Engine Market, By Power Output
• 0.5 MW–1 MW
• 1 MW–2 MW
• 2 MW–5 MW
• 5 MW–10 MW
• 10 MW–20 MW
• Gas Engine Market, By Application
• Co-generation
• Power Generation
• Others
• Gas Engine Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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