Global Gas Engine Market TOC
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Gas Engines Market size is poised to cross USD 7.98 billion by the end of 2035, growing at a CAGR of 4.9% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of gas engines was USD 4.29 billion. The market is driven by the increasing penetration of renewable energy sources, such as solar, and wind, and the ongoing advancements in gas engine technology, including improvements in combustion efficiency, control systems, and emission reduction, enhance the performance and attractiveness of gas engines.
Gas engines operate by burning a fuel-air mixture within a combustion chamber to generate a series of controlled explosions. The resulting high-pressure gases drive the movement of pistons, which in line produce rotary motion to power various applications such as power generation, cogeneration, and others. Furthermore, they can run on a variety of gaseous fuels, including natural gas, liquefied petroleum gas (LPG), biogas, landfill gas, and syngas.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
4.9% |
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Base Year Market Size (2022) |
USD 4.29 Billion |
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Forecast Year Market Size (2035) |
USD 7.98 Billion |
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Regional Scope |
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Growth Drivers
On April 2023, the Environmental Protection Agency (EPA), a U.S. government agency, issued a proposal for more stringent standards for minimizing greenhouse gas emissions from heavy-duty (HD) cars beginning in model year (MY) 2027. The revised regulations would apply to HD vocational as well as tractors.
Challenges
Fuel Type (Natural Gas, Special gas)
The natural gas segment in the gas engines market is anticipated to garner the largest revenue of USD 6.1 billion by the end of 2035 with a CAGR of 5.0% during the forecast period. The growth is primarily attributable to its widespread use as a source of energy for a variety of purposes such as power generation, heating, and transportation. According to the International Energy Agency (IEA), a French intergovernmental organization, the natural consumption in 2022 was 4,084 billion cubic meters (bcm) in 2022 and is expected to reach 4,242 billion cubic meters (bcm) by 2025.
Power Output (Up to 100 kW, 100-300 kW, 300-500 kW, more than 500 kW)
Amongst these, the more than 500 kW segment in the gas engines market is expected to grow at the fastest CAGR of 5.1% during the forecast period. Â Gas engines with a power output of more than 500 kW are commonly used as they offer the necessary power capacity, efficiency, flexibility, and reliability for industrial, utility-scale, and large-scale applications where significant amounts of electricity and heat are required.
Our in-depth analysis of the global market includes the following segments:
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     Fuel Type |
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     Power Output |
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     Application |
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     End User |
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APAC Market Analysis
The Asia Pacific gas engines market is projected to hold the largest revenue share and account for USD 3.44 billion by the end of 2035. Rapid industrialization in countries such as China, India, Japan, South Korea, and Southeast Asia has increased the demand for gasoline engines in the Asia-Pacific region. Gas engines play a crucial role in meeting this demand, particularly in electricity generation, gas-fired power plants, including combined cycle power plants that are increasingly being deployed in the region to provide efficient and reliable electricity. Furthermore, the combination of natural gas reserves, supportive initiatives and environmental policies, renewable energy transition, and infrastructure development has created a favorable environment for the adoption and expansion of gas engines in numerous applications such as mechanical drives, power generation, cogeneration, etc. across the globe.
North American Market Forecast
North America gas engines market is slated to surpass USD 1.09 billion in 2022 and is expected to reach USD 1.96 billion by 2035. The expansion is being driven mostly by well-established and extensive energy infrastructure, including natural gas pipelines, storage facilities, and distribution networks. The region has abundant natural gas reserves and a long history of gas production and utilization. This infrastructure provides a reliable and readily available supply of natural gas, which is a common fuel for gas engines. the accessibility and reliability of gas infrastructure contribute to the growth and dominance of the market in North America.
Author Credits: Payel Roy, Dhruv Bhatia
Ans: Increasing energy demand and the integration of renewable energy across the globe are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of 4.9% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Caterpillar Energy Solutions GmbH, HHI Engine & Machinery, Cummins Inc., Liebherr Group, Baudouin.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by fuel type, power output, application, end-user, and by region.
Ans: Natural gas is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: Infrastructure limitation and higher capital costs are estimated to be the growth-hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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