Gas Engine Market is expected to capture a CAGR of 7% over the forecast period of 2019-2023. The growing demand for electricity with a drop in natural gas prices is expected to drive the gas engine market in the forecast period. Global Gas Engine Market Research Report Categories by Fuel Type (Natural Gas, Special Gas and Others), Application (Power Generation, Co-Generation and Others), Power (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), End User (Utilities, Manufacturing, Oil & Gas and Others) and Region Forecast to 2023.
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Key Players Analysis in This Report:
Some of the top-notch companies operating in the global market for Gas Engine include Rolls-Royce Holdings plc (U.K), Man SE (Germany), Yanmar Co., Ltd. (Japan), Wärtsilä (Finland), Cummins Inc. (U.S), Siemens AG (Germany), Doosan Infracore (South Korea), Caterpillar Inc. (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Deutz AG (Germany) and General Electric Company (U.S.)
Global Gas Engine Market Overview:
Market Research Future (MRFR) reports that the global Gas Engine market is set to demonstrate a compound annual growth rate (CAGR) of 7% during the assessment period (2019-2023). The global economy has maintained a stable growth in recent years, which has influenced the global energy consumption. Industrialization, urbanization and economic boom in countries such as India and China have augured well for the global energy sector.
Increased demand for electricity worldwide has prompted the adoption of new technologies that can cater to the rising energy need and ensure future sustainability. With reliance on clean energy growing furthers, solutions such as Gas Engine are coming into limelight. Air pollution and global warming have become severe issues in parts of the worlds. This is prompting authorities to implement policies that support the adoption of clean technologies. Over the years, efforts towards curbing carbon emission has increased substantially. Governments are reforming policies for the transport sector and promoting the adoption of eco-friendly transports solutions.
Gas Engine are environmentally sustainable as their release very low carbon particles in the air during the ignition. This is because gas burning produces zero or negligible residue. This encouraging the adoption of gases over hydrocarbons. Moreover, industries are increasingly focusing on product innovation and developing technologies that are energy efficient.
Development of gas-fired power plant has also benefited the global Gas Engine market. Price of the gases are lower as compared to other fossil fuels such as petrol and diesel. Also, the market is expected to witness growth due to increased use of LPG and CNG automotive fuel.
Gas Engine Market Segmentation Analysis
The Gas Engine market has been segmented on the basis of fuel, type, portability, end-use, and region.
Based on fuel type, key segments include special gas, natural gas and others. Based on application, key segments include co-generation, power generation and others. Based on power, key segments include 10.0 MW-20.0 MW, 5.0 MW-10.0 MW, 2.0 MW-5.0 MW, 1.0 MW -2.0 MW and 0.5 MW-1.0 MW. Based on end-user, key segments include oil & gas, manufacturing and others.
Gas Engine Market Detailed Regional Analysis:
On the basis of region, the market has been segmented into four key regions namely Europe, North America, Asia Pacific (APAC) and Rest of the World (RoW). Europe has emerged as an important market for Gas Engine. Adoption of stricter emission policies by EU is creating growth avenues for the market players operating in the region. EU’s sterner stance towards issues such as global warming, rising Co2 emission and air pollution has influenced the adoption of eco-friendly solutions across Europe. As demand for electricity rises further solutions such Gas Engine are expected to gain higher prominence. The market in Europe is expected to witness a healthy growth during the assessment.
Asia Pacific is also expected to present attractive opportunities for market players in the forthcoming years. Macroeconomic factors such as industrial growth, rapid urbanization, rising standard of living and increased disposable income can be linked with the rising energy consumption in the region. Countries such as China and India continue to post a strong demand for electricity. This is reflecting favourably on the gas engine market in APAC.
Table of Contents
1.Executive Summary
2.Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3.Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat of New Entrants
3.1.2. Bargaining Power of Buyers
3.1.3. Threat of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power of Buyers
3.2. Value Chain/Supply Chain Analysis
Continued…
Gas Engine Market Competitive Analysis:
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Market Share Analysis
9.2.2 Market Development Analysis
9.2.3 Application /Service Benchmarking
9.3 General Electric Company (U.S.)
9.3.1 Overview
9.3.2 Application /Service Offering
9.3.3 Strategy
9.4 Caterpillar Inc. (U.S.)
9.4.1 Overview
9.4.2 Application /Service Offering
9.4.3 Strategy
9.5 Wärtsilä (Finland)
9.5.1 Overview
9.5.2 Application /Service Offering
9.5.3 Strategy
9.6 Rolls-Royce Holdings Plc (U.K)
9.6.1 Overview
9.6.2 Application /Service Offering
9.6.3 Strategy
9.7 Cummins Inc. (U.S)
9.7.1 Overview
9.7.2 Application /Service Offering
9.7.3 Strategy
9.8 Siemens AG (Germany)
9.8.1 Overview
9.8.2 Application /Service Offering
9.8.3 Strategy
9.9 Man SE (Germany)
9.9.1 Overview
9.9.2 Application /Service Offering
9.9.3 Strategy
9.10 Kawasaki Heavy Industries, Ltd. (Japan)
9.10.1 Overview
9.10.2 Application /Service Offering
9.10.3 Strategy
9.11 Mitsubishi Heavy Industries, Ltd. (Japan)
9.11.1 Overview
9.11.2 Application /Service Offering
9.11.3 Strategy
9.12 Deutz AG (Germany)
9.12.1 Overview
9.12.2 Application /Service Offering
9.12.3 Strategy
9.13 Yanmar Co., Ltd. (Japan)
9.13.1 Overview
9.13.2 Application /Service Offering
9.13.3 Strategy
9.14 Doosan Infracore (South Korea)
9.14.1 Overview
9.14.2 Application /Service Offering
9.14.3 Strategy
Continued…
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