This detailed market study covers gas engines market growth opportunities and competitive scenarios, which can assist the stakeholders in understanding market trends and prospects in the gas engines market. The market report focuses on data from a combination of primary and secondary sources and analyses the information using numerous tools. The research report also offers a detailed analysis of each segment in the gas engines market and evaluates the impact of COVID-19 outbreak on the industry.
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Gas Engines Market Competitive Rivalry
The market report includes an analysis of the competitive landscape present in the industry. It consists of an assessment of the existing and ongoing trends that players can invest in. The notable players in the gas engines market are Rolls-Royce Holdings Plc, Liebherr Group, Mitsubishi Heavy Industries Ltd, Cummins Inc, Man SE, General Electric Company, Caterpillar Inc, Wartsila Corporation, Kawasaki Heavy Industries Ltd, and JFE Engineering Corporation, among others.
Gas Engines Market Drivers
The increasing number of implementation of stricter emission regulations and the accelerating demand for efficient and clean power generation technology are the significant factors contributing to the growth of the gas engines market. With the increasing globalization and urbanization, lifestyle and work culture have changed, which in turn, has accelerated the usage of electricity. Numerous households, manufacturing and production companies, and electric vehicles are the largest consumers of gas engines. As electricity generation is one of the major use of gas engines, so the accelerating demand for electricity, followed by the decreased price of natural gas are the major factors that are responsible for the expansion of the gas engines market size over the coming years.
The demand for small gas engine products is increasing as various car manufacturers are determined to meet stringent emission norms, such as EURO 6, and the ACEA agreement. This downsizing phenomenon is setting up new technical avenue such as biofuels and micro-hybridization, which is likely to pave the way for growth of the global gas engines market. In addition to this, the emission legislation is the key factor for engine downsizing and has surged the growth of technologies such as gasoline direct injection, engine boosting, and others. On the other edge of the spectrum, price discrepancy across the regional market is likely to hamper the growth of the market.
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Gas Engines Market Segmentation
The chapter of segmentation provides the readers with an overview of the gas engines market, such as its products, applications, and other relevant factors of the industry. Understanding the market segments helps in identifying the importance of different factors that surges market growth over the forecast period (2020-2027).
Segment by Fuel Type:
- Natural Gas
- Special Gas
- Others (producer gas, coal gas, and propane gas)
Segment by Power Output:
- 5-1 MW
- 1-2 MW
- 2-5 MW
- 5-10 MW
- 10-20 MW
Segment by Application:
- Power Generation
- Mechanical Drive
- Others (trigeneration, quad generation, greenhouse operations, and renewable energy)
Segment by End-user:
- Oil & Gas
- Others (commercial complex, hospitals, and greenhouse operators)
Segment by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)