Market Overview:
This report presents an extensive evaluation of the Global Gas Engine Market, focusing on historical data from 2019 to 2022 while offering detailed forecasts for the period between 2024 to 2030. The analysis encompasses various aspects, including market Size, Share, Growth, Analysis, Trends and competitive insights.
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Table of Contents (Global Gas Engine Market)
- Executive Summary
- Market Definition & Research Methodology
- Market Dynamics: Drivers, Challenge, Trend and Opportunities
- Segment Analysis and Geographical Breakdown
- Competitive Landscape & Strategic Initiatives
- Regulatory Environment & Policy Factors
- Growth Forecast Model (2024–2030)
- Appendix: Company Profiles, Data Sources, Methodology
What’s covered in the report?
Market Key Driver:
Increasing Need for Efficient & Effective Energy Sources Driving Market Growth – The high energy density of natural gas and significantly low carbon emissions, when compared to the commonly used diesel engines, have been the main driving force behind integrating gas engines across the globe. The gas engines are actively installed at CHP plants, decentralized energy systems, etc., in line with the engine's ability to give more energy efficiency, low noise pollution, and economical fuel and maintenance costs. Also, the capability of gas engines to switch easily and quickly to other fuels such as biogas, landfill gas, coal gas, etc., from natural gas is considered a crucial advantage in areas where a low amount of power is to be generated such as during peak-shaving, stabilizing the grid, amongst others.
In addition, many end-users primarily manufacturing units attain their sustainability goals without any compromise on the production process and output, by establishing waste to heat and power plants at their facilities. Innio’s Jenbacher gas engines have been providing sustainable solutions to many organizations around the world. From 2011 up to 2023, Innio through its distributor Clarke Energy has provided gas engine solutions for converting waste to heat and power to BioTown Biogas in the US, with total electric output amounting to approximately 7.7MW. The growing level of waste generation and the need for electricity at manufacturing sites help the revenue growth of the Global Gas Engine Market.
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Leading players of Global Gas Engine Market including:
- Wartsila
- Cummins Inc.
- Caterpillar
- Rolls-Royce Holdings
- MAN Energy Solutions
- Siemens Energy
- Mitsubishi Heavy Industries, Ltd.
- Innio
- Hyundai Heavy Industries Co., Ltd.
- Scania CV AB
- Kawasaki Heavy Industries, Ltd.
- Ningbo C.S.I. Power & Machinery Group Co., Ltd.
- IHI Corporation
- JFE Engineering Corporation
- Liebherr Group
- Others
Global Gas Engine Market Segmentation:
By Fuel Type
- Natural Gas
- Biogas
- Other Special Gases
- Hybrid
In the forecast period, other special gases amongst all the other fuel types are expected to project the fastest growth.
By Power Output
- Upto 1 MW
- 1-5 MW
- 1-10 MW
- 1-20 MW
- Above 20 MW
By Application
- Power Generation
- Grid Balancing
- Heat Generation
- Industrial
- Others
By End-Use Industry
- Power Utilities
- Manufacturing
- Combined Heat & Power
- Marine
- Others
Out of them all, the power utilities segment is poised to maintain its majority share in the market from 2024 to 2030.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Asia-Pacific dominates the Global Gas Engine Market.
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Key Highlights of MarkNtel Advisors' Research Methodology
- MarkNtel Advisors uses a robust methodology for accurate market analysis.
- Research objectives are clearly defined with tailored methodologies for clients.
- A representative sample is selected to ensure reliable data collection.
- Data analysis includes cleaning, statistical evaluations, and validation checks.
- Predictive modeling forecasts trends, and reports include strategic recommendations.
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