Gas Engine Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

A gas engine is a reciprocating internal combustion engine, which primarily runs on natural gas and other special gases such as shale gas, mine gas, biogas, landfill gas, sewage gas, and syngas. These engines generally achieve more than 90% efficiency due to their high electrical and thermal efficiency, low operating and service costs, and high reliability. They are used for various applications, including power generation, cogeneration, mechanical drive, and tri-generation applications, such as district heating schemes, hospitals, universities, or industrial plants.

Factors such as the rapid increase in demand for power generation technology that is effective, efficient, and does not negatively impact the environment have been one of the major reasons that drive the gas engine market growth. In addition, stringent regulation regarding emissions, such as low carbon imprint, also acts as a driving factor for the gas engine market growth.

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The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO) in 2020. The strict guidelines were issued by governments and local authorities, industrial, commercial activities even all non-essential operations were halted which had suspended the activities of end-users. COVID-19 has adversely affected the growth of the power industry as a supply chain across various industries was severely disrupted, in turn, affecting the demand for gas engines.

According to UnivDatos Market Insights (UMI)’ research report “global gas engine”, the market is expected to grow at a CAGR of more than 4.5% during the forecast period (2021-2027). The gas engine market is growing at a flourishing rate and is expected to witness significant growth during the forecasted period. Factors that are supporting its growth such as increasing demand for efficient and low carbon engines along with technological advancements, companies are investing and adopting advanced small gas engines that require low maintenance and reduced product costs catering to the market demand.

Additionally, the emission monitoring and regulatory bodies from various countries are imposing stringent regulations on the use of diesel engines and generators. To meet these regulatory standards, various industries are deploying gas engines and generators for power generation is expected to accentuate the market size of a gas engine. For instance: In December 2020, Rolls-Royce launched MTU Series 500, a new series of gas engines, with a power range of 250–550 kilowatt. The engines are specially designed to meet the emission goals by using hydrogen as a power source, which is offering low fuel costs and low fuel consumption for industrial and utility sectors.

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Based on Fuel Type, the gas engine market is classified into natural gas, special gas, and others. The natural gas segment caters to extensive market share in the gas engine market and is predicted to be the fastest-growing segment in the forecasted period. It is mainly owing to the cleanest burning fossil fuel and produces less carbon emission compared to other fuels. Hence, escalating its market demand in the gas engine market.

Based on Power Output, the gas engine market is categorized into 0.5–1 MW, 1–2 MW, 2–5 MW, 5–15 MW, and Above 15 MW. The 1-2 MW segment caters to a significant market share in the gas engine market. As these generators are mainly used in cogeneration systems and power generation. In cogeneration, engines produce power along with energy for space heating and water heating, which enables energy savings of up to 60%.

Based on Application, the gas engine market is bifurcated into power generation, mechanical drive, cogeneration, and others. The cogeneration segment caters to a substantial market share in the gas engine market. As these systems are the most efficient and reliable systems for providing both electricity and heat to industrial processes, such as textiles, ceramics, food, or laundry, to applications in commercial buildings or hospitals with high heat demands.

Based on End-User, the gas engine market is classified into utilities, marine, oil & gas, manufacturing, and others. The utility segment caters to a considerable share of the gas engine market. The power produced by utilities can power local facilities or be exported to local electricity grids. Factors such as the increasing shift towards gas-fired power plants from coal-fired power plants to reduce the emission of greenhouse gases to comply with government-imposed carbon and emission regulations are accentuating the market size of the gas engine.

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Asia Pacific to witness the highest growth

Based on region, the report provides a detailed analysis of the overall adoption of the Gas engine in the major region including North America (United States, Canada, Rest of North America, Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), Rest of the World. The Asia Pacific is anticipated to witness the highest growth rate during the forecast period, owing to the soaring electricity demand for electricity coupled with many countries constantly focusing on adopting clean and reliable energy sources are escalating the market size of the gas engine.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Gas engine market are Cummins Inc., Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc, Volkswagen AG, Wärtsilä, Kohler Co., Yanmar Co Ltd., Hyundai Heavy Industries Co., Ltd., China Yuchai International Limited, Siemens. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Gas Engine Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.  

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Market Segmentation:

1.      By Fuel Type (Natural Gas, Special Gas, and Others)

2.      By Power Output (0.5–1 MW, 1–2 MW, 2–5 MW, 5–15 MW, and Above 15 MW)

3.      By Application (Power Generation, Mechanical Drive, Cogeneration, and Others)

4.      By End-User (Utilities, Marine, Oil & Gas, Manufacturing, and Others)

5.      By Region (North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), ROW.

6.      By Company (Cummins Inc., Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc, Volkswagen AG, Wärtsilä, Kohler Co., Yanmar Co Ltd., Hyundai Heavy Industries Co., Ltd., China Yuchai International Limited, Siemens)

Key questions answered in the study:

1.      What are the current and future trends of the global Gas engine industry?

2.      How the industry has been evolving in terms of fuel type, power output, application, end-user, and region?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Gas engine industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global Gas engine suppliers across various regions and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL GAS ENGINE MARKET COVID-19 IMPACT

6 GLOBAL GAS ENGINE MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY FUEL TYPE

8 MARKET INSIGHTS BY POWER OUTPUT

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY END-USER

11 MARKET INSIGHTS BY REGION

12 Rest Of the World Gas Engine Market

13 GAS ENGINE MARKET DYNAMICS

14 GAS ENGINE MARKET OPPORTUNITIES

15 GAS ENGINE MARKET TRENDS

16 LEGAL & REGULATORY FRAMEWORK

17 DEMAND AND SUPPLY-SIDE ANALYSIS

18 VALUE CHAIN ANALYSIS

19 COMPETITIVE SCENARIO

20 COMPANY PROFILED

21 DISCLAIMER

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