Global Gas Engine Market (2022 to 2027)
DUBLIN–(BUSINESS WIRE)–The “Gas Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global gas engine market reached a value of US$ 5.05 billion in 2021. Looking forward, the market is projected to reach a value of US$ 6.74 billion by 2027, exhibiting a CAGR of 4.70% during 2022-2027.
Companies Mentioned
- Caterpillar Inc.
- China Yuchai International Limited
- Cummins Inc.
- Doosan Corporation
- General Electric Company
- Hyundai Heavy Industries Co. Ltd.
- JFE Holdings Inc.
- Kawasaki Heavy Industries Ltd.
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce plc
- Siemens AG
- Volkswagen AG
- Wartsila Oyj Abp
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Gas engines refer to internal combustion engines that operate on various gaseous fuels, such as natural gas, coal gas, producer gas, and biogas. They consist of a fixed cylinder and a moving piston and are widely used as heavy-duty industrial engines capable of running at full load continuously.
They can power automobiles, light trucks, medium-to-large motorcycles, and lawn mowers. Gas engines are more efficient, cost-effective, and reliable than their traditional counterparts that utilized an ignition source, such as a spark or small amount of pilot fuel. They also offer high electrical and thermal efficiency, low maintenance and operation costs, and environmental benefits. As a result, gas engines are rapidly gaining traction across numerous industries, including power generation, manufacturing, oil and gas, utilities, and transportation.
The rising need for clean and efficient power generation technology represents the primary factor driving the market growth. Besides this, the escalating demand for electricity due to rapid industrialization and urbanization, growing population, and infrastructure development has accelerated the adoption of gas engines in electric utilities to handle peak load demand effectively.
Additionally, governments of various countries are taking favorable initiatives, such as the implementation of stringent regulations, for minimizing greenhouse gas (GHG) emissions and air pollution. Along with this, the rising environmental concerns and the shifting preferences toward renewable energy sources among the masses are propelling the market growth.
Furthermore, the leading manufacturers are making heavy investments in research and development (R&D) activities to launch innovative gas engines to meet the need for higher power outputs and diesel engine standards. Other factors, including the emerging applications in the aerospace industry, easy availability of natural gas, and growing focus toward gas engine-based power plants and distributed power generation, are also anticipated to create a positive market outlook in the upcoming years.
Key Questions Answered in This Report
- How has the global gas engine market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global gas engine market?
- What are the key regional markets?
- What is the breakup of the market based on the fuel type?
- What is the breakup of the market based on the power output?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global gas engine market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Gas Engine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Fuel Type
7 Market Breakup by Power Output
8 Market Breakup by Application
9 Market Breakup by Industry Vertical
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/mil2ct
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