Gas Engine

Gas Engine Market by Fuel (Natural Gas, Special Gas), Power Output (10 KW to 100 KW, Above 100 KW, Upto 10 KW), Application, End User - Global Forecast 2024-2030

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[196 Pages Report] The Gas Engine Market size was estimated at USD 4.75 billion in 2023 and expected to reach USD 4.99 billion in 2024, at a CAGR 5.41% to reach USD 6.87 billion by 2030.

Gas Engine Market
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A gas engine refers to an internal combustion engine that operates on gas fuel, such as natural gas, biogas, and a variety of other gas fuels, instead of liquid fuels, such as gasoline & diesel. The basic principle of operation involves the ignition of the gas fuel mixture inside the engine's cylinders, causing an expansion of gas that subsequently moves the pistons. This movement is converted into mechanical energy that is used to perform work, such as driving the wheels of a vehicle or powering industrial machinery. The global stimulus towards reducing carbon emissions and improving air quality has made gas engines, particularly those running on natural gas and biogas, an attractive option due to their relatively lower CO2, NOx, and particulate emissions than diesel engines. However, the initial cost of gas engine installations, particularly for high-efficiency models, can be prohibitive for some end-users. Furthermore, continued improvements in engine efficiency and fuel flexibility stand out as significant opportunities for the manufacturers.

Gas Engine Market - Global Forecast 2024-2030
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Fuel: Growing utilization of special gas as it offers environmental and efficiency benefits

Natural gas is renowned for its ubiquity and relatively low carbon footprint; compared to other fossil fuels, natural gas stands as a cornerstone fuel for gas engines in both industrial and residential settings. It is primarily composed of methane, alongside minor amounts of other hydrocarbons. Special gas encompasses a variety of gasses, including biogas, syngas, and hydrogen, each offering distinct environmental and efficiency benefits. These fuels are increasingly considered for their potential to leverage waste resources and for their roles in the transition to a low-carbon economy.

End User: Expansion of automotive industry accelerating the deployment of gas engines

In the automotive industry, the preference for gas engines primarily revolves around efficiency, durability, and environmental compliance. Modern vehicles require engines that provide adequate power and comply with stringent emission norms. The manufacturing sector utilizes gas engines for power generation and as a drive for heavy machinery. The key preferences include reliability, power output consistency, and cost-efficiency regarding operational and maintenance expenses. In the oil & gas industry, gas engines are used for a variety of applications, including power generation at remote sites and for driving compressors and pumps. The sector values engines that offer high reliability in harsh conditions, fuel flexibility, and lower emissions. Utilities use gas engines for distributed power generation and as backup power sources. Preferences include the ability to swiftly ramp up power supply in response to grid demand, operational flexibility, and environmental sustainability.

Regional Insights

In the American region, the United States and Canada are significant ecnomies in the gas engine market, primarily driven by an abundance of natural gas reserves and a strong focus on energy independence and environmental sustainability. In the Americas, there is a high demand for energy-efficient, durable, and low-emission gas engines, especially in the power generation, industrial, and transportation sectors. The focus is on reducing operational costs and complying with stringent environmental regulations. EU countries are leading in environmental regulatory standards, the Middle East is capitalizing on its vast natural gas reserves, and Africa is gradually transitioning to cleaner energy sources. The predominant consumer need in the EMEA region is for energy solutions that balance efficiency, reliability, and environmental sustainability. The EU's stringent emissions regulations push for the adoption of advanced gas engines, while countries in the Middle East and Africa, faced with energy security and access challenges, look for dependable and cleaner energy alternatives. The Asia Pacific region, encompassing dynamic economies such as China, Japan, and India, represents a burgeoning market for gas engines due to escalating energy demands and an increasing shift towards cleaner energy sources. This region is characterized by rapid industrial growth, urbanization, and a persistent emphasis on reducing carbon emissions, which significantly propels the demand for efficient and environmentally friendly gas engines.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Gas Engine Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Gas Engine Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Cummins to Propel Decarbonization with Launch of Advanced X15N Natural Gas Engine in 2024

    Cummins Inc. is set to revolutionize the trucking industry with the introduction of its X15N natural gas engine, an innovative solution aimed at reducing carbon emissions. The X15N is designed to fulfill the stringent CARB 2024 emissions regulations, offering fleets an opportunity to commence their decarbonization journey immediately. Developed with an output of 500 HP and 1,850 lb.-ft of torque, the X15N promises up to a 10% improvement in fuel efficiency over its predecessor, the ISX12N. [Published On: 2024-02-26]

  • Launch and Impact of MHIET's SGP M2000 Natural Gas Engine System

    Mitsubishi Heavy Industries Engine & Turbocharger, Ltd., is set to redefine the cogeneration landscape with the introduction of the SGP M2000, a state-of-the-art natural gas engine cogeneration system slated for release in the Japanese market. This cutting-edge system is powered by the G16NB, a 16-cylinder natural gas engine that achieves an unparalleled electrical efficiency of 44.3% for its 2,000kW class, marking it as the most efficient of its kind globally. [Published On: 2023-03-16]

Key Company Profiles

The report delves into recent significant developments in the Gas Engine Market, highlighting leading vendors and their innovative profiles. These include Briggs & Stratton, LLC, Caterpillar Inc., Champion Power Equipment, Inc., Cummins Inc., Deutz Australia Pty Ltd., Doosan Corporation, Generac Power Systems, Inc., General Electric Company, Governors America Corp., Honda Motor Co., Ltd., Hyundai Heavy Industries Co., Ltd., IHI Corporation, INNIO Jenbacher GmbH & Co OG, JFE Holdings,Inc., Kawasaki Heavy Industries, Ltd., Kohler Co., Liebherr Group, MAN Truck & Bus SE, Mitsubishi Heavy Industries, Ltd., QVT Power, R Schmitt Enertec GmbH, Siemens AG, Subaru Corporation, Volkswagen AG, Weichai Power Co.,Ltd., Wärtsilä Corporation, and Yanmar Holdings Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Gas Engine Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Fuel
    • Natural Gas
    • Special Gas
  • Power Output
    • 10 KW to 100 KW
    • Above 100 KW
    • Upto 10 KW
  • Application
    • Co-Generation
    • Power Generation
  • End User
    • Automotive
    • Manufacturing
    • Oil & Gas
    • Utilities

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Gas Engine Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Gas Engine Market?
  3. What are the technology trends and regulatory frameworks in the Gas Engine Market?
  4. What is the market share of the leading vendors in the Gas Engine Market?
  5. Which modes and strategic moves are suitable for entering the Gas Engine Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Gas Engine Market, by Fuel
  7. Gas Engine Market, by Power Output
  8. Gas Engine Market, by Application
  9. Gas Engine Market, by End User
  10. Americas Gas Engine Market
  11. Asia-Pacific Gas Engine Market
  12. Europe, Middle East & Africa Gas Engine Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 374]
  17. List of Companies Mentioned [Total: 27]
Frequently Asked Questions
  1. How big is the Gas Engine Market?
    Ans. The Global Gas Engine Market size was estimated at USD 4.75 billion in 2023 and expected to reach USD 4.99 billion in 2024.
  2. What is the Gas Engine Market growth?
    Ans. The Global Gas Engine Market to grow USD 6.87 billion by 2030, at a CAGR of 5.41%
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