Gas Engine Market – Global Industry Analysis and Forecast (2022-2029)

The Gas Engine Market was valued at US $ 4.04 Bn. in 2021, and the Global Portable Generators market size is estimated to grow at a CAGR of 6.12% to reach the US $ 6.50 Bn. by 2029.

Gas Engine Market Overview:

A Gas Engine is an internal combustion engine that runs on gaseous fuels like coal gas, producer gas, biogas, landfill gas, and natural gas. A gas engine refers to a heavy-duty industrial engine capable of running continuously at full load for periods approaching a high fraction of 8,760 hours per year. Power outputs typically range from 10 kW (13 hp) to 4 MW (5,364 hp). They are developed to provide maximum electrical and thermal efficiency, low operating and maintenance costs, and high dependability and availability. As a result, they obtain a 90% efficiency rate. Gas Engine MarketTo know about the Research Methodology :- Request Free Sample Report

Global Gas Engine Market Dynamics:

The demand for reliable and clean electricity is increasing over the world, thanks to the industrial expansion and the development of commercial infrastructure, Furthermore, the demand for a stable supply of power is increasing as to the expansion of urban infrastructure. The gas engines run constantly at full load, they are becoming increasingly popular, particularly in the industrial and commercial sectors, where a stable and consistent electrical supply is critical. With growing concerns about air pollution, across the globe are promoting the use of gas as a source of power generation over other hydrocarbons such as crude oil and coal. Emerging countries like India and China are spending heavily on gas transportation infrastructure to provide a reliable and consistent supply of gas, which is expected to drive the gas-fired power generating industry forward. The necessity for gas engines in the power sector is expected to grow during the forecast period. According to the International Energy Agency (IEA), the global energy demand is expected to rise by more than 60% by 2030. In the last 25 years, almost 1 billion people in developing nations have gained access to modern energy fuels like coal, electricity, kerosene, liquefied petroleum gas (LPG), and natural gas. However, between 1.6 and 2 billion people worldwide still lack access to electricity or sophisticated energy services. This number roughly equals a third of the world's population. To fulfill the growing power demand the demand for gas engines is expected to increase across the globe. The gas engine's power generation capacity limits have usually been set at 50-70 MW. However, due to technology improvements, gas engines have proven to be a more efficient option for power generation capacity greater than 200 MW. Gas engines are increasingly being favored for big power generation plants due to their high efficiency for greater power generation capacity units and ability to run at full loads, which is expected to boost the gas engine market growth during the forecast period.

Global Gas Engine Market Segment Analysis:

Based on the Fuel Type, the Gas Engine Market is segmented into Natural Gas and Other Gas. The Natural Gas segment held the largest market share, accounting for xx% in 2021. Natural gas is the cleanest burning fossil fuel with low carbon emission as compared to other fuel gases such as biogas, producer gas, and sewage gas. Natural gas has no particulate matter, which helps to reduce engine wear and tear. The CO2 reduction potential of natural gas combustion accounted for 25% compared to diesel and up to 50% compared to coal. Gas Engine MarketBased on the Application, the Gas Engine Market is segmented into Power Generation, Mechanical Driver, Cogeneration, and Others. The Power generation segment held the largest market share, accounting for 31% in 2021. The gas engines are generally used for power generation by manufacturing plants, commercial buildings, public buildings, and utilities for on-site power generation. As demand for clean energy is rising across the globe, the governments are investing more in the construction of new gas-fired power plants. These factors are driving the gas engine market growth for this segment. The Cogeneration segment is expected to witness a significant growth rate at a CAGR of 5.89% during the forecast period. Gas engines create power as well as heat for space and water heating in cogeneration applications. It is a cost-effective technique of power generation that uses gas engines and saves more than 60% on energy.

Global Gas Engine Market Regional Insights:

North America region held the largest market share accounted for 36.2 % in 2021. Natural gas-fired electricity is widely available in the United States. An increase in shale gas production in the United States made a shift towards cleaner energy fuels, and a drop in gas costs, natural gas surpassed coal as the primary fuel used to generate power in the United States. According to U.S. Annual Energy Outlook 2021, the natural gas base engines are expected to account for more than 35% of total electricity generation by 2050. As of July 2021, there are 175,000 natural gas vehicles and 922 compressed natural gas fueling stations in the United States. In addition, by 2025, the U.S. plans to invest more than US $ 1000 billion in infrastructure development projects across all industries. These factors are expected to boost the Gas Engine Market growth in the region. Asia Pacific region is expected to witness rapid growth at a CAGR of xx% during the forecast period. The region's growth is attributed to the growing penetration of CNG- powered vehicles and increasing demand for electricity, in developing countries such as India and China. The objective of the report is to present a comprehensive analysis of the Gas Engine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Gas Engine Market dynamic, structure by analyzing the market segments and projecting the Gas Engine Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Gas Engine Market make the report investor’s guide.

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Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 4.04 Bn.
Forecast Period 2022 to 2029 CAGR: 6.12% Market Size in 2029: US $ 6.50 Bn.
Segments Covered: by Fuel type • Natural Gas • Other Gas
by Power Output • 0.5-1 MW • 1-2 MW • 2-5 MW • 5-10 MW • 10-20 MW
By Application • Power Generation • Mechanical driver • Cogeneration • Others

 Global Gas Engine Market, by Region

• North America • Europe • Asia Pacific • South America • The Middle East and Africa

Global Gas Engine Market, Key Players

INNIO • Caterpillar • Wartsila Corporation • Rolls-Royce Holdings plc. • Cummins • Siemens • Man SE • Mitsubishi Heavy Industries • Kawasaki Heavy Industries • Ningbo C.S.I Power & Machinery Group • IHI Power Systems • JFE Engineering Corporation • Liebherr • Hyundai Heavy Industries • JiNan Lvneng Power Machinery Equipment Co., Ltd. • R Schmitt Enertec • CNPC Jichai Power Complex • Fairbanks Morse • Googol Power • Westport Fuel Systems Inc. • Doosan Corporation Frequently Asked Questions: 1] What segments are covered in the Gas Engine Market report? Ans. The segments covered in the Gas Engine Market report are based on Fuel type, Power Output, and Application. 2] Which region is expected to hold the highest share in the Gas Engine Market? Ans. The North America region is expected to hold the highest share in the Gas Engine Market. 3] What is the market size of the Gas Engine Market by 2029? Ans. The market size of the Gas Engine Market by 2029 is US $ 6.50 Bn. 4] What is the forecast period for the Gas Engine Market? Ans. The Forecast period for the Gas Engine Market is 2022-2029. 5] What was the market size of the Gas Engine Market in 2021? Ans. The market size of the Gas Engine Market in 2021 was US $ 4.04 Bn.
1. Global Gas Engine Market Size: Research Methodology 2. Global Gas Engine Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Gas Engine Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Gas Engine Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Gas Engine Market Size Segmentation 4.1. Global Gas Engine Market Size, by Fuel type (2021-2029) • Natural Gas • Other Gas 4.2. Global Gas Engine Market Size, by Power Output (2021-2029) • 0.5-1 MW • 1-2 MW • 2-5 MW • 5-10 MW • 10-20 MW 4.3. Global Gas Engine Market Size, by Application (2021-2029) • Power Generation • Mechanical driver • Cogeneration • Others 5. North America Gas Engine Market(2021-2029) 5.1. Global Gas Engine Market Size, by Fuel type (2021-2029) • Natural Gas • Other Gas 5.2. Global Gas Engine Market Size, by Power Output (2021-2029) • 0.5-1 MW • 1-2 MW • 2-5 MW • 5-10 MW • 10-20 MW 5.3. Global Gas Engine Market Size, by Application (2021-2029) • Power Generation • Mechanical driver • Cogeneration • Others 5.4. North America Gas Engine Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Gas Engine Market (2021-2029) 6.1. European Gas Engine Market, by Fuel type (2021-2029) 6.2. European Gas Engine Market, by Power Output (2021-2029) 6.3. European Gas Engine Market, by Application (2021-2029) 6.4. European Gas Engine Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Gas Engine Market (2021-2029) 7.1. Asia Pacific Gas Engine Market, by Fuel type (2021-2029) 7.2. Asia Pacific Gas Engine Market, by Power Output (2021-2029) 7.3. Asia Pacific Gas Engine Market, by Application (2021-2029) 7.4. Asia Pacific Gas Engine Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Gas Engine Market (2021-2029) 8.1. The Middle East and Africa Gas Engine Market, by Fuel type (2021-2029) 8.2. The Middle East and Africa Gas Engine Market, by Power Output (2021-2029) 8.3. The Middle East and Africa Gas Engine Market, by Application (2021-2029) 8.4. The Middle East and Africa Gas Engine Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Gas Engine Market (2021-2029) 9.1. Latin America Gas Engine Market, by Fuel type (2021-2029) 9.2. Latin America Gas Engine Market, by Power Output (2021-2029) 9.3. Latin America Gas Engine Market, by Application (2021-2029) 9.4. Latin America Gas Engine Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. INNIO 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Caterpillar 10.3. Wartsila Corporation 10.4. Rolls-Royce Holdings plc. 10.5. Cummins 10.6. Siemens 10.7. Man SE 10.8. Mitsubishi Heavy Industries 10.9. Kawasaki Heavy Industries 10.10. Ningbo C.S.I Power & Machinery Group 10.11. IHI Power Systems 10.12. JFE Engineering Corporation 10.13. Liebherr 10.14. Hyundai Heavy Industries 10.15. JiNan Lvneng Power Machinery Equipment Co., Ltd. 10.16. R Schmitt Enertec 10.17. CNPC Jichai Power Complex 10.18. Fairbanks Morse 10.19. Googol Power 10.20. Westport Fuel Systems Inc. 10.21. Doosan Corporation

About This Report

Report ID 1225
Category Energy & Power
Published Date Sep 2022
Updated Date
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