The global market for gas engines is forecast to display an upward trend, with an estimated CAGR of 7.12% over the forecast period 2019 to 2027.
The factors driving the gas engine market are the reduction in gas prices, the growing demand for electricity worldwide, the surge in ecological concerns, and the industrial expansion that leads to environmental power generation. Increased preference for distributed power generation and the shift towards gas-fired power plants create positive growth opportunities for the forecast period.
However, the rise in safety concerns and the varying prices of different types of fuels are impeding the growth of the market. Moreover, the depreciation in natural gas reserves and the stringent regulations imposed by authorities are further challenging market growth.
The global gas engine market encompasses the regions of Europe, Latin America, North America, the Asia-Pacific, and the Middle East and Africa.
Europe is the dominant region in the market for gas engines, globally, and contributed to 39.56% of the global market share in 2018. The increase in demand for clean energy, the usage of natural gas as an alternative to coal, emission targets by the EU, and the temporary closure of nuclear power plants drive the region's gas engine market.
Germany is the leading market for gas engines in Europe. The phase-out of nuclear & coal power plants; the shift in focus towards the adoption of renewable energy; and stability in the grid network are the factors boosting the country's gas engine market. Besides, significant development can also be witnessed in other countries in the region, such as, the UK, Austria, Spain, Poland, France, and Turkey.
Key Topics Covered:
1. Global Gas Engine Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.3. Porter's Five Forces Analysis
2.4. Key Impact Analysis
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Regulatory Framework
2.8. Market Drivers
2.9. Market Restraints
2.10. Market Opportunities
3. Global Gas Engine Market Outlook - By Fuel Type
3.1. Natural Gas
3.2. Special Gas
3.3. Other Gas
4. Global Gas Engine Market Outlook - By Power
4.1. 0.5 Mw-1.0 Mw
4.2. 1.0-2.0 Mw
4.3. 2.0-5.0 Mw
4.4. 5.0 Mw-10.0 Mw
4.5. 10.0 Mw-20.0 Mw
5. Global Gas Engine Market Outlook - By Application
5.1. Power Generation
5.3. Other Applications
6. Global Gas Engine Market Outlook - By End-User
6.3. Oil & Gas
6.5. Other End-Users
7. Global Gas Engine Market - Regional Outlook
7.1. North America
7.4. Latin America
7.5. Middle East And Africa
8. Competitive Landscape
9. Methodology & Scope
- 3W-International GmbH
- Caterpillar Inc.
- Cummins, Inc.
- China Yuchai International Ltd.
- Clarke Energy
- Deutz AG
- Dresser-Rand Group, Inc.
- Doosan Infracore Co., Ltd.
- Fairbanks Morse Engine
- General Electric Company (Innio)
- Hyundai Heavy Industries Co., Ltd.
- IHI Corporation
- Kawasaki Heavy Industries, Ltd.
- MAN Se
- Mitsubishi Heavy Industries, Ltd.
- WRTSIL Corporation
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