Growing demand for efficient power generation technology, with the growing population and stricter emission regulations, are the factors driving the market growth of the Gas Engines Market.
JERSEY CITY, N.J., April 25, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Gas Engine Market" By Power Output (0.5 MW-1 MW, 1 MW-2 MW), By Fuel Type (Natural Gas, Special Gas), By Application (Co-generation, Power Generation), and By Geography. According to Verified Market Research, the Global Gas Engine Market size was valued at USD 4.29 Billion in 2020 and is projected to reach USD 6.59 Billion by 2028, growing at a CAGR of 5.53% from 2021 to 2028.
Download PDF Brochure:
https://www.verifiedmarketresearch.com/download-sample/?rid=25053
Browse in-depth TOC on "Gas Engine Market"
202 - Pages
126 - Tables
37 - Figures
Global Gas Engine Market Overview
The primary factor driving the market growth is the growing demand for efficient power generation technology; the increasing population with increasing power consumption in developing countries like China, India, Brazil, and Mexico has increased the market growth. Also, because of the expansion of developed countries and increasing living standards, which increases the demand for electricity waves, many counties across the globe are expanding their power generation capacities by raising the ability of the existing plant or installing new plants.
Because of stringent government regulations about carbon emissions, companies are moving towards using renewable energy sources for electricity generation and mainly prefer gas-based engines to use natural gas as fuel sources are the factors driving the market growth. Another factor is driving the growth of the market is the increasing demand for gas-fired power generation technology and the rising focus on lowering carbon emissions. Natural gas-based engines provide a high operational rate, fast start-up, and adaptable load efficiency as per the power need are the factors increasing the growth of the market.
Key Developments
- On March 2020, Doosan Corporation launched a new 'Euro 6' electronic engine to target commercial vehicles. The launch helps the company increase the business's sales by the production of new products in the market.
- On May 2021, Clarke and Innio Jenbacher inaugurated a gas engine to power a pasta factory in Douala, Cameroon. Fuelled by natural gas, the J320 engine delivers reliable, onsite power to the facility.
Key Players
The major players in the market are General Electric Company, Wartsila Corporation, Cummins Inc., MAN SE, Kawasaki Heavy Industries, Ltd., JFE Holdings, Inc., Niigata Power Systems Co., Ltd., Caterpillar, Inc., Rolls-Royce Holdings Plc, and Siemens AG.
Verified Market Research has segmented the Global Gas Engine Market On the basis of Power Output, Fuel Type, Application, and Geography.
- Gas Engine Market, By Fuel Type
- Natural Gas
- Special Gas
- Others
- Gas Engine Market, By Power Output
- 0.5 MW-1 MW
- 1 MW-2 MW
- 2 MW-5 MW
- 5 MW-10 MW
- 10 MW-20 MW
- Gas Engine Market, By Application
- Co-generation
- Power Generation
- Others
- Gas Engine Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
Browse Related Reports:
Heat Transfer Fluids Market By Type (Mineral Oils, Synthetic Fluids, Glycols), By End-Use Industry (Chemical, Oil & Gas, Pharmaceuticals), By Geography, Forecast, 2021-2028
Cooling Tower Market By Type (Evaporative Cooling Tower, Dry Cooling Tower, Hybrid Cooling Tower), By Application (Chemicals, Petrochemicals & Oil & Gas, HVACR, Food & Beverages), By Geography, Forecast, 2021-2028
Mobile Power Plant Market By Fuel Type (Diesel, Natural Gas/LPG), By Power Rating (1-10 MW, 11-20 MW, 21-50 MW), By Application (Emergency Power For Natural Disaster, Oil & Gas Rigs, Remote Area Electrification), By Geography, Forecast, 2021-2028
Gas Engine-driven Heat Pump (GEHP) Market By Product (Air-to-Air, Air-to-Water), By Application (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028
Top 5 Solar Energy Companies focusing on improving solar-based products and services
Visualize Gas Engine Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.
Contact Us
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg
