Dublin, March 04, 2022 (GLOBE NEWSWIRE) -- The "Global Gas Engines Market" report has been added to ResearchAndMarkets.com's offering.
The gas engines market is projected to reach USD 5.8 billion by 2027 from an estimated USD 4.8 billion in 2022, at a CAGR of 4.1% during the forecast period.
The global gas engines market is driven by the rising demand for clean and efficient power generation technology, increase in the use of distributed power generation systems, and stricter emission regulations. The increasing inclination towards gas-fired power plants, and adoption of natural gas as a transition fuel are expected to offer lucrative opportunities for the gas engines market during the forecast period.
The natural gas segment, by fuel type, is expected to be the largest market from 2022 to 2027
The fuel type segment is categorized into natural gas, special gas, and others. The natural gas segment held the largest share of the gas engines market. Natural gas is most used in gas engines for electricity generation as it burns cleaner and has low carbon emission compared to other types of fuels. It also emits low nitrogen oxide, sulfur dioxide, and particulate matter. The US, Russia, the UK, France, Germany, China and Canada are strengthening their natural gas distribution networks, which is expected to create a demand for gas engines. Utilities are the largest end users of natural gas-fueled engines, which use them for power generation. The other major applications of natural gas engines include industrial and commercial cogeneration and mechanical drive. The expected in price of natural gas price and improving gas distribution network may drive the growth of the natural gas segment of the gas engines market.
The above 15 MW segment, by power output, is expected to be the largest market from 2022 to 2027
The above 15 MW segment held the largest market share of the gas engines market in 2021. The above 15 MW gas engines are mainly used for baseload power generation applications. These engines are used by utilities as a power plant to feed the grid and are primarily implemented in island-type configurations to supplement major power plants. The slumping and fluctuating natural gas prices, availability of renewable fuel sources, and improved gas distribution network are expected to drive the growth of the above 15 MW segment during the forecast period.
Asia Pacific: The largest region in the gas engines market
Asia Pacific is expected to dominate the global gas engines market between 2022-2027. The growth of the regional market is driven by the increasing demand for efficient and clean power generation technologies, and the replacement of aging power generation infrastructure and conversion of coal-based power plants to gas based ones. Asia Pacific is experiencing rapid economic growth, and to meet its energy demand while adhering to decarbonization plans, it is witnessing a spike in investments in hydrogen as well as other cleaner fuels for power generation.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Gas Engines Market
4.2 Asia-Pacific: Gas Engines Market, by End-User Industry and Country
4.3 Gas Engines Market, by Fuel Type
4.4 Gas Engines Market, by Power Output
4.5 Gas Engines Market, by Application
4.6 Gas Engines Market, by End-User Industry
4.7 Gas Engines Market, by Region
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 COVID-19 Economic Assessment
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Rising Demand for Clean and Efficient Power Generation Technology
5.4.1.2 Increase in the Use of Distributed Power Generation Systems
5.4.1.3 Stricter Emission Regulations
5.4.2 Restraints
5.4.2.1 Geopolitical Instability Affecting the Supply and Pricing of Natural Gas
5.4.2.2 Price Variations Across Regional Markets
5.4.3 Opportunities
5.4.3.1 Inclination Towards Gas-Fired Power Plants
5.4.3.2 Adoption of Natural Gas as a Transition Fuel
5.4.4 Challenges
5.4.4.1 Infrastructural Shortcomings
5.4.4.2 Limited Natural Gas Reserves
5.5 COVID-19 Impact
5.6 Trends/Disruptions Impacting Customers' Business
5.6.1 Revenue Shift and New Revenue Pockets for Gas Engine Providers
5.7 Market Map
5.8 Value Chain Analysis
5.8.1 Raw Material Providers/Suppliers
5.8.2 Component Manufacturers
5.8.3 Gas Engine Manufacturers/Assemblers
5.8.4 Distributors (Buyers)/End-users
5.8.5 Post-Sales Services
5.9 Technology Analysis
5.9.1 IoT-Connected Gas Engines
5.10 Average Selling Prices
5.11 Tariffs, Codes, and Regulations
5.11.1 Tariffs Related to Gas Engines
5.11.2 Codes and Regulations Related to Gas Engines
5.12 Innovations and Patent Registrations
5.13 Porter's Five Forces Analysis
5.13.1 Threat from Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat from New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Case Study Analysis
6 Gas Engines Market, by Fuel Type
6.1 Introduction
6.2 Natural Gas
6.2.1 Growing Need for Clean Burning Fuels Drives the Growth of the Natural Gas Engines Market
6.3 Special Gas
6.3.1 Government Initiatives and Subsidies Are Expected to Increase the Demand for Special Gas in the Gas Engines Market
6.4 Others
7 Gas Engines Market, by Power Output
7.1 Introduction
7.2 0.5-1 Mw
7.2.1 Increasing Need for Standby Power and Distributed Power Generation from Small-Scale Facilities to Drive Growth in the 0.5-1 Mw Segment
7.3 1-2 Mw
7.3.1 Growth in Demand for Continuous Power Supply to Drive the 1-2 Mw Segment of the Gas Engines Market
7.4 2-5 Mw
7.4.1 Low Emission Levels and High Operational Efficiency Drive the Demand for the 2-5 Mw Segment of the Gas Engines Market
7.5 5-15 Mw
7.5.1 Growth of Cogeneration Power Plants Boosts the Growth of the 5-15 Mw Segment
7.6 Above 15 Mw
7.6.1 Growth in Demand for Clean and Economic Power Supply Drives the Above 15 Mw Segment of the Gas Engines Market
8 Gas Engines Market, by Application
8.1 Introduction
8.2 Power Generation
8.2.1 Increasing Demand for Electricity and the Trend of Distributed Power Generation in Europe to Fuel Growth in the Power Generation Segment
8.3 Cogeneration
8.3.1 Increased Efficiency of Power Systems by Cogeneration is Driving the Growth of the Cogeneration Segment
8.4 Mechanical Drive
8.4.1 Manufacturing and Oil & Gas Operations to Propel the Growth of the Mechanical Drive Segment
8.5 Others
9 Gas Engines Market, by End-User Industry
9.1 Introduction
9.2 Utilities
9.2.1 Need for Cleaner and Cost-Efficient Powering Fuels to Drive the Demand for Gas Engines in Power Utilities
9.3 Manufacturing
9.3.1 Continuous and Cleaner Power Generation Requirement to Drive the Demand for Gas Engines in the Manufacturing Segment of the Gas Engines Market
9.4 Marine
9.4.1 Demand for Cleaner Engines for Marine Propulsion and Generating Sets to Drive the Demand for Gas Engines in this Segment
9.5 Oil & Gas
9.5.1 Availability of Flare Gas and Lng to Drive the Demand for Gas Engines in the Oil & Gas Segment
9.6 Others
10 Gas Engines Market, by Region
11 Competitive Landscape
11.1 Key Player Strategies
11.2 Market Share Analysis of Top Five Players
11.3 Revenue Analysis of Top Five Market Players
11.4 Company Evaluation Quadrant
11.4.1 Stars
11.4.2 Pervasive Players
11.4.3 Emerging Leaders
11.4.4 Participants
11.5 Gas Engines Market: Company Footprint
11.6 Competitive Scenario
12 Company Profiles
12.1 Key Players
12.1.1 Caterpillar
12.1.2 Wartsila
12.1.3 Rolls-Royce Holdings
12.1.4 Cummins
12.1.5 Volkswagen (Man Energy Solutions)
12.1.6 Siemens Energy
12.1.7 Mitsubishi Heavy Industries, Ltd.
12.1.8 Innio
12.1.9 Kawasaki Heavy Industries, Ltd.
12.1.10 Ningbo C.S.I Power & Machinery Group Co. Ltd.
12.1.11 Ihi Power Systems
12.1.12 Jfe Engineering Corporation
12.1.13 Liebherr
12.1.14 Hyundai Heavy Industries Co. Ltd.
12.1.15 Jinan Lvneng Power Machinery Equipment Co. Ltd
12.2 Other Players
12.2.1 R Schmitt Enertec
12.2.2 Cnpc Jichai Power Complex
12.2.3 Fairbanks Morse
12.2.4 Googol Engine Tech
12.2.5 Baudouin
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/z4fldw
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