Selbyville, Delaware, Feb. 08, 2022 (GLOBE NEWSWIRE) --
The reciprocating power generating engine market size is anticipated to record a valuation of USD 34 billion by 2028, according to the most recent study by Global Market Insights Inc. Shifting focus toward combined cycle generation along with growing intensity of weather-related disasters will augment the market growth. The increasing utilization of cogeneration technologies coupled with ongoing investments in generation capacity expansion will boost the business scenario. In addition, rapid growth across the industrial & manufacturing sector will propel the market expansion.
Growing concerns regarding environment protection along with wide applicability across CHP and peak shaving applications owing to the use of cleaner & cheaper fuels will drive the dual fuel engine market progression. Additionally, the ability to offer fuel flexibility, low gas pressure, high efficiency, and reliable power supply will impel the product deployment. Moreover, the growing demand for clean and reliable electricity on account of industrial infrastructure expansion and development will stimulate the product demand.
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Amplifying load on grid supply in line with growing consumer awareness toward independent power source will stimulate the product demand. Shifting trend from conventional to sustainable energy sources coupled with technological advancements with flexible fuel mixture and improved cylinder volume will encourage their applicability in landfills & biogas plants. Furthermore, the growing concern to maintain fossil fuel sustainability will accelerate the reciprocating power generating engine market value.
The backup reciprocating power generating engines will witness growth attributed to temporary disruptions across main grid due to weather-related disasters or sudden surge in electricity demand. Rapid power outages in line with strict government norms to curb carbon emissions will foster the business growth. The ongoing development of railways followed by increasing mobility & backup power requirements will complement the product penetration.
North America reciprocating power generating engine market is expected to reach USD 5 billion by 2028. Introduction of various state policies and programs to encourage the use of CHP credited to its improved resiliency & ability to mitigate disasters will positively sway the industry landscape. For instance, the California’s Self-Generation Incentive Program offers incentives to CHP projects up to 3 MW. Moreover, the growing investments in construction activities along with ongoing installation of eco-friendly engines will influence the product demand.
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During the pandemic outbreak marginally impacted the global overall industry scenario. The adaptation of the key market players to the changing industry conditions will support in limiting the disruptions caused by the spread. However, government initiatives to resume various operations across manufacturing facilities, major industries, power plants, and infrastructure projects will positively influence the overall business outlook.
Eminent players operating across the reciprocating power generating engine market include Wartsila, Siemens, Mitsubishi Heavy Industries, MAN Energy Solutions, Caterpillar, etc.
Table of Contents (ToC) of the report:
Chapter 3 Reciprocating Power Generating Engine Market Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.3.1 North America
3.3.1.1 National Emission Standards for Hazardous Air Pollutants for Reciprocating Internal Combustion Engines
3.3.1.2 U.S.
3.3.1.3 Canada
3.3.2 Europe
3.3.3 India
3.3.4 Japan
3.3.4.1 NOx Emissions Standards
3.3.4.2 SOx Emission Standards
3.3.5 China
3.3.5.1 China - I/II Standards
3.3.5.2 Domestic Emission Control Areas
3.3.6 South Africa
3.4 COVID- 19 impact on the industry outlook
3.4.1 Top 10 countries impacted by COVID- 19
3.4.2 Overall view
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Growth potential analysis
3.7 Porter’s Analysis
3.8 Competitive landscape, 2021
3.8.1 Strategy dashboard
3.9 PESTLE Analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/reciprocating-power-generating-engine-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
