Gas Engine Market Size & Share, by Gas Type (Natural Gas, Gasoline, Landfill Gas); Power Output (0.5 - 1 MW, 1 - 2 MW, 2 - 5 MW, 5 - 15 MW, Above 15 MW); Application (Power Generation, Mechanical Drive, Cogeneration, Stationary, Transport); End-user (Utilities, Manufacturing, Oil & Gas, Automotive) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3680
  • Published Date: Sep 05, 2023
  • Report Format: PDF, PPT

Global Gas Engine Market TOC

  1. An Introduction to the Research Study
    1. Market Definition
    2. Market Segmentation
    3. Industry Overview
  2. Assumptions & Abbreviations
  3. Research Methodology & Approach
    1. Research Process
    2. Primary Research
      1. Manufacturers
      2. Suppliers/Distributors
      3. End Users
    3. Secondary Research
    4. Market Size Estimation
  4. Summary of the Report for Key Decision Makers
  5. Forces of Market Constituents
    1. Factors/drivers impacting the growth of the market
    2. Market trends for better business practices
    3. Key Market Opportunities for Business Growth
    4. Major Roadblocks for the Market Growth
  6. Decarbonization Strategy and Carbon Credit Benefits for Market Players
    1. Global Government Decarbonization Plans/Goals by Each Country under 2015 Agreement Agreed by 200 Countries
    2. Measures taken by Countries to Reduce Carbon Footprints
    3. Carbon Credits and Subsidy Plans/Benefits Rolled out by the Government for Market Players
    4. Effective Ways to Harness Carbon-Credits and Impact on Profit Margins
    5. Demand Impact on the Companies Opting for Carbon Credits
  7. Government Regulation: How They Would aid Business
  8. Technology Transition and Adoption Analysis
    1. Internet of Things (IoT)
    2. Dual-Fuel Engines
    3. Turbochargers
  9. Industry Pricing Benchmarking & Analysis
  10. Industry Risk Analysis
  11. Global Economic Outlook: Challenges for Global Recovery and its Impact on Global Gas Engine Market
    1. Ukraine-Russia crisis
    2. Potential US economic slowdown
  12. Industry Value Chain Analysis
  13. Comparative Analysis of Gas Turbine and Gas Engine
  14. Case Study Analysis
  15.  End-User Analysis
  16. Country Demand Analysis
  17. Product Comparative Analysis
  18. Competitive Positioning
  19. Competitive Landscape
  20. Global Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Global Gas Engine Market Segmentation Analysis (2022 -2035
      1. By Fuel Type
        1. Natural Gas, Market Value (USD Million) and CAGR, 2022 -2035 F
        2. Special Gas, Market Value (USD Million) and CAGR, 2022 -2035 F
        3. Others, Market Value (USD Million) and CAGR, 2022 -2035 F
    4. Global Gas Engine Market Segmentation Analysis (2022 -2035
      1. By Power Output
        1. Up to 100 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        2. 100 -300 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        3. 300 -500 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        4. More than 500 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
    5. Global Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Application
        1. Power Generation, Market Value (USD Million) and CAGR, 2022-2035F
        2. Cogeneration, Market Value (USD Million) and CAGR, 2022-2035F
        3. Mechanical Drive, Market Value (USD Million) and CAGR, 2022-2035F
        4. Others, Market Value (USD Million) and CAGR, 2022-2035F
    6. Global Gas Engine Market Segmentation Analysis (2022-2035)
      1. By End User
        1. Utilities, Market Value (USD Million) and CAGR, 2022-2035F
        2. Manufacturing, Market Value (USD Million) and CAGR, 2022-2035F
        3. Marine, Market Value (USD Million) and CAGR, 2022-2035F
        4. Oil & Gas, Market Value (USD Million) and CAGR, 2022-2035F
        5. Others, Market Value (USD Million) and CAGR, 2022-2035F
    7. Global Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Geography
        1. North America, Market Value (USD Million) and CAGR, 2022-2035F
        2. Europe, Market Value (USD Million) and CAGR, 2022-2035F
        3. Asia Pacific, Market Value (USD Million) and CAGR, 2022-2035F
        4. Latin America, Market Value (USD Million) and CAGR, 2022-2035F
        5. Middle East & Africa, Market Value (USD Million) and CAGR, 2022-2035F
  21. Cross Analysis of Fuel Type w.r.t. End-User
  22.  North America Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. North America Gas Engine Market Segmentation Analysis (2022 -2035
      1. By Fuel Type
        1. Natural Gas, Market Value (USD Million) and CAGR, 2022 -2035 F
        2. Special Gas, Market Value (USD Million) and CAGR, 2022 -2035 F
        3. Others, Market Value (USD Million) and CAGR, 2022 -2035 F
    4. North America Gas Engine Market Segmentation Analysis (2022 -2035
      1. By Power Output
        1. Up to 100 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        2. 100 -300 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        3. 300 -500 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
        4. More than 500 kW, Market Value (USD Million) and CAGR, 2022 -2035 F
    5. North America Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Application
        1. Power Generation, Market Value (USD Million) and CAGR, 2022-2035F
        2. Cogeneration, Market Value (USD Million) and CAGR, 2022-2035F
        3. Mechanical Drive, Market Value (USD Million) and CAGR, 2022-2035F
        4. Others, Market Value (USD Million) and CAGR, 2022-2035F
    6. North America Gas Engine Market Segmentation Analysis (2022-2035)
      1. By End User
        1. Utilities, Market Value (USD Million) and CAGR, 2022-2035F
        2. Manufacturing, Market Value (USD Million) and CAGR, 2022-2035F
        3. Marine, Market Value (USD Million) and CAGR, 2022-2035F
        4. Oil & Gas, Market Value (USD Million) and CAGR, 2022-2035F
        5. Others, Market Value (USD Million) and CAGR, 2022-2035F
    7. North America Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Country
        1. US, Market Value (USD Million) and CAGR, 2022-2035F
        2. Canada, Market Value (USD Million) and CAGR, 2022-2035F
  23. Europe Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Europe Gas Engine Market Segmentation Analysis (2022 -2035
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
    4. Europe Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Country
        1. UK, Market Value (USD Million) and CAGR, 2022-2035F
        2. Germany, Market Value (USD Million) and CAGR, 2022-2035F
        3. France, Market Value (USD Million) and CAGR, 2022-2035F
        4. Italy, Market Value (USD Million) and CAGR, 2022-2035F
        5. Spain, Market Value (USD Million) and CAGR, 2022-2035F
        6. Russia, Market Value (USD Million) and CAGR, 2022-2035F
        7. Netherlands, Market Value (USD Million) and CAGR, 2022-2035F
        8. Rest of Europe, Market Value (USD Million) and CAGR, 2022-2035F
  24.  Asia Pacific Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Asia Pacific Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
    4. Asia Pacific Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Country
        1. China, Market Value (USD Million) and CAGR, 2022-2035F
        2. Japan, Market Value (USD Million) and CAGR, 2022-2035F
        3. India, Market Value (USD Million), Volume (Units) and CAGR, 2022- 2035F
        4. Australia, Market Value (USD Million) and CAGR, 2022-2035F
        5. South Korea, Market Value (USD Million) and CAGR, 2022-2035F
        6. Singapore, Market Value (USD Million) and CAGR, 2022-2035F
        7. Rest of Asia Pacific, Market Value (USD Million) and CAGR, 2022-2035F
  25. Latin America Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Latin America Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
    4. Latin America Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Country
        1. Mexico, Market Value (USD Million) and CAGR, 2022-2035F
        2. Argentina, Market Value (USD Million) and CAGR, 2022-2035F
        3. Brazil, Market Value (USD Million) and CAGR, 2022-2035F
        4. Rest of Latin America, Market Value (USD Million) and CAGR, 2022- 2035F
  26. Middle East & Africa Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Middle East & Africa Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
    4. Middle East & Africa Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Country
        1. GCC, Market Value (USD Million) and CAGR, 2022-2035F
        2. Israel, Market Value (USD Million) and CAGR, 2022-2035F
        3. South Africa, Market Value (USD Million) and CAGR, 2022-2035F
        4. Egypt, Market Value (USD Million), Value (Units) and CAGR, 2022- 2035F
        5. Rest of Middle East & Africa, Market Value (USD Million) and CAGR, 2022-2035F
  27. India Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
    3. India Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
  28. Egypt Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
    3. Egypt Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User
  29. Oman Gas Engine Market Outlook
    1. Market Overview
    2. Market Revenue by Value (USD Million), Volume (Units) and Compound Annual Growth Rate (CAGR)
    3. Oman Gas Engine Market Segmentation Analysis (2022-2035)
      1. By Fuel Type
      2. By Power Output
      3. By Application
      4. By End User

 

 

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

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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Global Gas Engine Market: Growth Drivers and Challenges

Growth Drivers

  • Favorable Environmental Regulations – Stringent environmental regulations and the need to reduce greenhouse gas emissions are driving the shift towards cleaner and more sustainable energy sources worldwide. Gas engines, particularly those running on natural gas or biogas, emit lower levels of pollutants, such as carbon dioxide (CO2), nitrogen oxides (NOx), and particulate matter compared to traditional fossil fuels. The environmental advantages of gas engines make them an attractive choice for industries, power generation, and transportation sectors aiming to meet emissions targets and improve air quality.

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.

  • Growing Demand for Distributed Power Generation – Gas engines are well-suited for decentralized or distributed power generation systems. Gas engines can be used in combined heat and power (CHP) applications, where waste heat from the engine is captured and utilized for heating or industrial processes, significantly improving overall system efficiency. The distributed generation capability makes gas engines appealing for industries, commercial buildings, and residential applications seeking reliable and efficient power solutions.

Challenges

  • Fuel Availability and Infrastructure – The availability and accessibility of gas fuels, such as natural gas, biogas, and others can be a challenge in certain regions. Limited gas infrastructure, including pipelines and refueling stations, hinders the widespread adoption of gas engines.
  • Higher Capital Cost
  • Natural Gas Trade Crises

Global Gas Engine Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

4.9%

Base Year Market Size (2022)

USD 4.29 Billion

Forecast Year Market Size (2035)

USD 7.98 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (China, Japan, South Korea, Australia, Singapore, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Rest of Europe)
  • Middle East and Africa (Israel, GCC, South Africa, Rest of the Middle East and Africa)
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Gas Engines Segmentation

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.  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:

          Fuel Type

  • Natural Gas
  • Special Gas
  • Others

          Power Output

  • Up to 100 kW
  • 100-300 kW
  • 300-500 kW
  • More than 500 kW

          Application

  • Power Generation
  • Cogeneration
  • Mechanical Drives

          End User

  • Utilities
  • Manufacturing
  • Marine
  • Oil & Gas

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Gas Engine Industry - Regional Synopsis

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.

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Companies Dominating the Gas Engine Landscape

top-features-companies
    • Caterpillar Energy Solutions GMBH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • HHI Engine & Machinery
    • Cummins Inc.
    • Liebherr
    • International Society of Baudouin Motors
    • R Schmitt Enertec GmbH
    • Kawasaki Heavy Industries Ltd.
    • Doosan Corporation
    • Mitsubishi Heavy Industries Ltd.
    • Deutz AZ
    • INNIO
    • Guascor Energy
    • Power Solutions International, Inc. (PSI)
    • Generac Holdings Inc.

In-the-news

In The News

  • February 2023: Cummins Inc. announced the launch of the next engine in the fuel-agnostic series, the X10, which will be available in North America in 2026. The engine's design is uniquely positioned to replace both the L9 and the X12, and it has the versatility to serve both medium and heavy-duty applications.
  • December 2022: Caterpillar Energy Solutions announced the expansion of its lineup of generator sets with the launch of new 2-MW variant of its versatile MWM TCG 3020 V20 gas engine.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 3680
  • Published Date: Sep 05, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing energy demand and the integration of renewable energy across the globe are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 4.9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Caterpillar Energy Solutions GmbH, HHI Engine & Machinery, Cummins Inc., Liebherr Group, Baudouin.

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.

The market is segmented by fuel type, power output, application, end-user, and by region.

Natural gas is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Infrastructure limitation and higher capital costs are estimated to be the growth-hindering factors for the market expansion.

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.
Gas Engine Market Report Scope
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