Gas Engines Market Scenario
Increasing demand for clean and efficient power generation technology coupled with implementation of stricter emission regulations are some of the major factors propelling the gas engines market globally. Furthermore, shift toward gas-fired power Plants is also one of the factor propelling the growth of gas engines market. However, price disparity across regional markets is one of the major factor expected to hamper the global growth of the market.
Gas Engines Market Segmentation
The Gas engines Market is segmented by Fuel Type, Power Output, Application, End User and Geography. The Fuel Type studied in the Gas engines Market are Natural Gas, Special Gas and Others. Furthermore, the Power Output segment comprises of 0.5–1 MW, 1–2 MW, 2–5 MW, 5–10 MW and 10–20 MW. Likewise, various Application of this market are Power Generation, Cogeneration, Mechanical Drive and Others. Moreover, gas engines are used in major End Users such as Utilities, Manufacturing, Oil & Gas and Others. Based on Geography, the Gas engines Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.
Gas Engines Market by Geography
Based on geography, the gas engines market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Europe dominated the global gas engines market in 2019. Majority of the countries in the European continent are cold climate countries, which require heat for household and commercial spaces, thus, resulting in huge demand for cogeneration application. Europe is the leader in biogas production, which is further creating the need for the special gas-based engines.
Gas Engines Market Key Players
Some of the major players operating in the global gas engines market includes Innio, Caterpillar, Wärtsilä, Rolls-Royce Holdings, Cummins, MAN SE, Siemens, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., Ningbo C.S.I Power & Machinery Group Co., Ltd., IHI Power Systems, JFE Engineering Corporation, Liebherr, Hyundai Heavy Industries Co., Ltd., Jinan Lvneng Power Machinery Equipment Co., Ltd., R Schmitt Enertec, CNPC Jichai Power Complex, Fairbanks Morse and Googol Engine Tech. These players focus on inorganic strategies such as acquisitions, partnerships, agreements, and collaborations as well as organic strategies such as expansions and product launches & approvals to sustain their positions in the market.
Gas Engines Market Report Key Benefits