Gas Engine - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Gas Engine Market is accounted for $3.8 billion in 2018 and is expected to reach $7.6 billion by 2027 growing at a CAGR of 8.0% during the forecast period. Some of the key factors influencing the market growth include fall in Natural Gas prices and clean & efficient power generation technology. However, political uncertainties impacting the supply of Natural Gas are restricting the market growth.
A gas engine is an internal combustion engine that runs on a gaseous fuel, such as coal gas, producer gas, biogas, landfill gas or natural gas. Generally, the term gas engine refers to a heavy-duty industrial engine capable of running continuously at full load for periods approaching a high fraction of 8,760 hours per year, unlike a gasoline automobile engine, which is lightweight, high-revving and typically runs for no more than 4,000 hours in its entire life.
Based on fuel type, natural gas segment is expected to report the fastest growth rate, during the forecast period due to low fuel costs and the relatively lower carbon emissions from natural gas are projected to act as major drivers for the global market growth. By Geography, Asia Pacific has significant growth during the forecast period owing to growing development of advanced automotive engines to produce increased torque and power that are likely to boost the demand for gas engines in Asia-Pacific, especially in China and India.
Some of the key players in Global Gas Engine market are Mitsubishi Heavy Industries, Ltd., Siemens AG, Kawasaki Heavy Industries, Ltd., Hyundai Heavy Industries Co., Ltd., Wartsila Corporation, Cummins, General Electric Company, Rolls-Royce Holdings, Caterpillar, Man SE, JFE Engineering Corporation, 3W International GMBH, Niigata Power Systems Co Ltd, Deutz AG.
Fuel Types Covered:
• Special Gas
• Natural Gas
• Other Fuel Types
Power Outputs Covered:
• 10–20 MW
• 5–10 MW
• 2–5 MW
• 1–2 MW
• 0.5–1 MW
• Mechanical Drive
• Power Generation
• Specialty Applications
• Other Applications
• Oil & Gas
• Other End-Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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