Global Gas Engine Market
The Global Gas Engine Market was valued at USD 3.41 billion in 2016 and is projected to reach USD 5.90 billion by 2025, growing at a CAGR of 6.23% from 2017 to 2025.
A Gas Engine is an internal combustion engine which runs on a gas fuel, such as coal gas, producer gas, biogas, landfill gas or natural gas. Benefits of gas engine include - lower maintenance costs, environmentally friendly, flexibility and individuality, efficiency through long overhaul intervals and extended service lives, low emissions improved handling, efficiency, and performance.
1. Market Drivers
1.1 Rising trend of distributed power generation
1.2 Increasing shift toward gas-fired power plants
1.3 Declining natural gas prices
1.4 Carbon emission reduction targets
1.5 Rise in clean and efficient power generation technology
2. Market Restraints
2.1 Limited natural gas reserves
2.2 Infrastructure concerns
2.3 Changing prices
The Global Gas Engine Market is segmented on the power output, fuel type, end user, application, and region.
1. Power Output:
1.1 0.5 MW–1 MW
1.2 1 MW–2 MW
1.3 2 MW–5 MW
1.4 5 MW–10 MW
1.5 10 MW–20 MW
2. By Fuel Type:
2.1 Natural Gas
2.2 Special Gas
3. By End User:
3.2 Oil & Gas
4. By Application:
4.2 Power Generation
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. General Electric Company
2. Wartsila Corporation
3. Cummins Inc.
4. MAN SE
5. Kawasaki Heavy Industries, Ltd.
6. JFE Holdings, Inc.
7. Niigata Power Systems Co., Ltd
8. Caterpillar, Inc.
9. Rolls-Royce Holdings Plc
10. Siemens AG
11. Mitsubishi Heavy Industries, Ltd.
12. Liebherr Group
13. Hyundai Heavy Industries Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Gas Engine Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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