Gas Engine market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 6.1% from 2020 to 2026.
A gas engine is an internal combustion engine that runs on gaseous fuel, such as coal gas, producer gas, biogas, landfill gas, or natural gas. In the United Kingdom, the term is unambiguous. The low cost of natural gas relative to diesel and gasoline combined with various emissions-related regulatory measures continues to create significant interest in natural gas as an alternative fuel for internal combustion engines.
Global Gas Engine Market Dynamics:
Increasing demand for clean and efficient power generation technology
Global energy consumption is expected to grow as the global population upsurge, people migrate from rural to urban areas, and globalization accelerates. As a result, challenges such as environmental and energy sustainability concerns in various primary energy sectors are expected to rise. Furthermore, conventional fossil-based fuels are rapidly depleting, exploration to locate energy sources has become difficult and challenging. As a result, the use of alternative fuels, especially natural gas, has received a lot of attention as a potential replacement for conventional fuels. However, natural-gas vehicles account for a limited percentage of the existing vehicle market, less than 5%.
The twin pillars of a sustainable energy supply is energy efficiency and increased use of renewable energy. Emerging countries like India, China among others are more focusing on the development of clean energy besides, they are investing more to find the alternative of energy sources which in turn has made a positive impact on the market. For instance, China has developed a host of inventions and applications in renewable power generation and operation technologies, putting a big push behind large-scale clean energy exploration and integration.
The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the North America. Major country’s policies about manufacturing and their impact on Gas Engine demand are covered in the report.
Global Gas Engine Market Segment Analysis
Global Gas Engine Market
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The natural gas segment is expected grow at a CAGR of xx% during the forecast period.
Based on the fuel type, in 2019, the natural gas segment holds the largest market share of xx% in 2019 and it is estimated to reach USD$ XX Mn by 2026. In emerging economies, the electricity demand is increasing at a rapid pace thanks to the urbanizations and government favorable policies which is driving the market growth. Natural gas used in base-load power generation and CHP (combined heat and power) systems. Natural gas is primarily used as a fuel in gas engines with a power output of 5.0 MW to 20.0 MW. The primary end-users of natural gas-fueled generators are utilities. Industrial and commercial cogeneration are two of the most popular CHP applications for natural gas engines. Over the forecast period, natural gas-fueled gas engines are projected to benefit from lower natural gas prices and improved gas distribution networks.
Global Gas Engine Market Regional Insights:
Global Gas Engine Market
Europe to witness high market growth rate and is expected to grow at a CAGR of xx% by 2026
Europe is expected to hold the largest share of the global Gas Engine market. The majority of countries on the European continent has cold climates, which necessitate heat for residential and commercial spaces, resulting in high demand for cogeneration. Europe is the world leader in biogas processing, necessitating the development of special gas-powered engines. Europe is predicted to dominate the global market during the forecast period due to strict environmental regulations and low natural gas prices.
Countries in the Asia Pacific are turning to alternative energy sources, besides the companies and governments are building new advanced power plants, to meet their electricity needs. As the demand for electricity increases, electric utilities need more machinery. The growth of electricity demand is expected to fuel the growth of the gas engine sector, which is expected to be particularly strong in developing economies.
The objective of the report is to present a comprehensive analysis of the global Gas Engine market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Gas Engine market dynamics, structure by analyzing the market segments and project the global Gas Engine market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Gas Engine market make the report investor’s guide.
• In November 2019, Rolls-Royce entered into a contract with 2G Energy. The contract covers the mutual supply of gas-powered gensets. Rolls-Royce will supply 2G with MTU gas-powered generator sets based on Series 4000 engines delivering 776–2,535 kW. 2G will use these generator sets in its CHP modules for on-site generation of electrical power and heat.
• In November 2019, Man SE entered into a contract with RCMC to provide 6 MAN 18V32/40 CD engines, with a total capacity of 53 MW. It will supply power to the RCMC manufacturing site and other nearby industrial plants.
Merger and Acquisition:
• Zaporozhtransformator PJSC has signed agreement with Tokmak Solar Energy Ltd., for delivery of its transformer - TRDN-32000/150-Y1.
• Siemens AG has acquired order from Semco Maritime for supply of key electrical equipment for electrical service platform (ESP) at 1.6-GW Mayflower Wind offshore wind farm project. The contract comprise of high-voltage equipment such as integrated conditioning monitoring system, three shunt reactors, and gas-insulated switchgear (GIS).
Global Gas Engine Market Scope: Inquire before buying
Global Gas Engine Market
Global Gas Engine Market, by Region
• North America
• Middle East & Africa
• Asia Pacific
• South America
Global Gas Engine Market Key Players
• Wartsila Corporation
• Rolls-Royce Holdings plc.
• Man SE
• Mitsubishi Heavy Industries
• Kawasaki Heavy Industries
• Ningbo C.S.I Power & Machinery Group
• IHI Power Systems
• JFE Engineering Corporation
• Hyundai Heavy Industries
• JiNan Lvneng Power Machinery Equipment Co., Ltd.
• R Schmitt Enertec
• CNPC Jichai Power Complex
• Fairbanks Morse
• Googol Power
• YANMAR HOLDINGS CO., LTD.
• Westport Fuel Systems Inc
• BERGEN ENGINES AS
• DEUTZ AG
• Doosan Corporation
• Guangdong Honny Power-Tech Co., Ltd
For More Information Vist : https://www.maximizemarketresearch.com/market-report/global-gas-engine-market/1225/
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