Market Research Future published a research report on “Gas Engines Market Research Report – Global Forecast till 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.
Market Highlights:
As per Market Research Future (MRFR)’s analysis, the global gas engines market is expected to capitalize on the booming opportunities while striking a CAGR of 7% during the forecast period. The global economy is gaining momentum which has opened avenues for rapid industrialization and urbanization across developed and developing nations. Key players are focusing on the growth of the demand for electricity required for supporting the goals of industrialization. The intensified need for reliable electricity supply is likely to drive the growth of the market in the upcoming years.
The declining quality of air is projected to motivate the implementation of strict emission norms. It is expected to transform the transportation industry over the next few years. The governments are emphasizing on the adoption of gas transport infrastructure. Furthermore, the inclination witnessed towards gases over hydrocarbons is anticipated to benefit the growth of the Gas Engines Market in the foreseeable future.
The efforts directed towards the upgradation of technology for enhanced efficiency coupled with constant price fall of natural gas is likely to dictate the growth trajectory of the gas engines market over the assessment period. The developments in the gas-fired power plants are further presumed to aid the intensified need for gas engines in the forthcoming years. However, the regional disparity in supply and exploration of natural gas has led to a price inequality which poses a challenge to market growth. Furthermore, the complex geopolitics is further expected to check the expansion of the gas engines market through the review period.
Competitive Overview
Some of the key players profiled in the report are General Electric Company (U.S.), Wärtsilä (Finland), Rolls-Royce Holdings plc (U.K), Deutz AG (Germany), Caterpillar Inc. (U.S.), Cummins Inc. (U.S), Man SE (Germany), Kawasaki Heavy Industries, Ltd. (Japan), Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Yanmar Co., Ltd. (Japan) and Doosan Infracore (South Korea).
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Market Segmentation
This study provides an overview of the global gas engines market, tracking five market segments across five regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global gas engines market by fuel type, power output, horsepower, application, end use, and region.
By Fuel Type
- Natural Gas
- Special Gas
- Others
By Power Output
- Up to 1 MW
- 1-2 MW
- 2–5 MW
- 5–10 MW
- 10–20 MW
By Horsepower
- Up to 1000 HP
- 1000–2000 HP
- Above 2000 HP
By Application
- Power Generation
- Cogeneration
- Mechanical Drive
- Others
By End-Use
- Utilities
- Manufacturing
- Oil & Gas
- Mining
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South America
Regional Overview
The global gas engines market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The emission norms implemented in European nations has been projected to unleash myriad growth opportunities for the market participants. Furthermore, the rising demand for electricity is likely to support the growth of the gas engines market in the forthcoming years.
Asia Pacific is an important growth pocket owing to the rapid urban migration witnessed in the region. The region is also acing the global industrial trade affairs. The locational advantage of the region has encouraged leaders of different industries to invest in the region. This, in turn, is prognosticated to favor the expansion of the gas engines market over the next couple of years.
Table of Content
- Global Gas Engines Market Overview
- Manufacturers Profiles
- Global Gas Engines Sales, Revenue, Market Share and Competition by Manufacturer
- Global Gas Engines Market Analysis by Regions
- Global Market Segment by Type
- Global Gas Engines Market Segment by Application
- Gas Engines Market Forecast (2020-2025)
- Sales Channel, Distributors, Traders and Dealers
- Appendix
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