According to the latest report by IMARC Group, the global gas engine market reached a value of US$ 5.05 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.74 Billion by 2027, exhibiting a CAGR of 4.70% during 2022-2027.
Gas engines refer to the internal combustion engines that operate on numerous gaseous fuels, such as natural gas, producer gas, coal gas, biogas, etc. They consist of a fixed cylinder and a moving piston. Gas engines are widely used as heavy-duty industrial engines capable of running at full load. They can power light trucks, medium-to-large motorcycles, lawnmowers, automobiles, etc. Gas engines are more efficient, reliable, and cost-effective than their traditional counterparts. They also offer excellent electrical and thermal efficiency, low maintenance and operation costs, and enhanced environmental benefits. As a result, gas engines are gaining traction across various sectors, including power generation, manufacturing, oil and gas, utilities, transportation, etc.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
Gas Engine Market Trends and Drivers:
The elevating need for clean and efficient power generation technologies is primarily driving the gas engine market. Besides this, the escalating requirement for electricity is propelling the adoption of gas engines in electric utilities to handle peak load demand effectively, which is further catalyzing the market growth.
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Additionally, the inflating environmental concerns and the shifting preferences towards renewable energy sources are also stimulating the global market. Furthermore, the development of innovative gas engine variants to meet the need for higher power outputs and enhanced diesel engine standards is anticipated to bolster the gas engine market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Gas Engine Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Caterpillar Inc., China Yuchai International Limited, Cummins Inc., Doosan Corporation, General Electric Company, Hyundai Heavy Industries Co. Ltd., JFE Holdings Inc., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce plc, Siemens AG, Volkswagen AG and Wärtsilä Oyj Abp.
The report has segmented the market on the basis of region, fuel type, power output, application and industry vertical.
Breakup by Fuel Type:
- Natural Gas
- Special Gas
- Others
Breakup by Power Output:
- 0.5-1 MW
- 1-2 MW
- 2-5 MW
- 5-10 MW
- 10-20 MW
Breakup by Application:
- Mechanical Drive
- Power Generation
- Cogeneration
- Others
Breakup by Industry Vertical:
- Utilities
- Manufacturing
- Oil and Gas
- Mining
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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