The "Global Gas Engine Market Size By Power Output, By Fuel Type, By Application, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Gas Engine Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Oct. 27, 2023 /PRNewswire/ -- The Global Gas Engine Market is projected to grow at a CAGR of 5.53% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 4.29 Billion in 2020 and is expected to reach USD 6.59 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=25053
Browse in-depth TOC on "Gas Engine Market"
202 - Pages
126 – Tables
37 – Figures
Global Gas Engine Market Soars Amidst Rising Demand for Sustainable Power Solutions
The global gas engine market is experiencing unprecedented growth, fueled by the escalating demand for efficient power generation technologies worldwide. A recent comprehensive analysis reveals the market's robust expansion, driven by key factors that include increasing power consumption in developing nations such as China, India, Brazil, and Mexico. The market is witnessing a surge in demand, bolstered by stringent government regulations mandating reduced carbon emissions and a shift towards renewable energy sources for electricity generation.
Gas engines, distinguished by their ability to operate on a variety of fuels such as biogas, coal gas, landfill gas, natural gas, and producer gas, have emerged as a sustainable solution for the evolving energy landscape. Unlike conventional gasoline engines, these heavy-duty industrial engines are engineered to operate continuously at full load, approaching a remarkable 8,760 hours annually.
Gas Engine Market Drivers
The Gas Engine Market's rapid expansion can be attributed to the growing emphasis on minimizing carbon emissions, prompting companies to adopt gas-based engines that utilize natural gas as a fuel source. These engines offer operational efficiency, rapid start-up, and adaptable load capabilities, catering to diverse power needs. Developing countries are witnessing a surge in power consumption due to population growth and rising living standards. Consequently, nations are augmenting their power generation capacities, either by enhancing existing facilities or installing new plants.
Gas Engine Market Challenges and Opportunities
While challenges exist, particularly in managing natural gas resource fluctuations and shifting prices, the market is witnessing exciting opportunities, especially in the aviation sector. The demand for high-quality, reliable gas engines in gas-fired aircraft is anticipated to fuel future growth, expanding the market's horizons.
Gas Engine Market Segmentation and Regional Insights
The co-generation segment holds a significant share in the market, owing to its applications in baseload power generation and combined heat and power setups. Decreasing natural gas prices and enhanced gas distribution networks are driving the growth of this segment.
In regions like Europe, the demand for cogeneration applications in residential and commercial spaces, driven by the necessity for heat in cold climates, is boosting market dominance. Simultaneously, the Asia-Pacific region is witnessing rapid growth, driven by escalating electricity demand in countries like India, Japan, and South Korea. These nations are actively embracing clean and reliable energy sources, further propelling the gas engine market in the region.
Gas Engine Market Key Players
The Global Gas Engine Market is characterized by the presence of major industry players including 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. These key players are instrumental in shaping the market landscape and are pivotal in the industry's growth trajectory.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Gas Engine Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Gas Engine Market into 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
- o Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Browse Related Reports:
Gasoline Direct Injection Market By Component (Fuel Injectors, Fuel Pumps, Electronic Control Units), By Vehicle Type (Passenger Cars, Commercial Vehicle), By Geography, And Forecast
Automotive Performance Tuning and Engine Remapping Services Market By Type (Passenger Cars, LCV), By Service Type (Engine Tuning, Drivetrain Tuning), By Fuel Type (Gasoline, Diesel), By Geography, And Forecast
Automotive Engine Encapsulation Market By Product Type (Body Mounted, Engine Mounted), By Material-Type (Polyurethane, Polypropylene), By Vehicle Class (Economic, Mid-Priced), By Fuel Type (Diesel, Gasoline), By Geography, And Forecast
Gas Engine-driven Heat Pump (GEHP) Market By Product (Air-to-Air, Air-to-Water), By Application (Residential, Commercial, Industrial), By Geography, And Forecast
Top 10 Gas Turbine Manufacturers using natural resources for progress
Visualize Gas Engine Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.
Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/2015407/VMR_Logo.jpg
SOURCE Verified Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO50995&Transmission_Id=202310271015PR_NEWS_USPR_____IO50995&DateId=20231027)
Share this article