DUBLIN, September 25, 2017 /PRNewswire/ --
The "Gas Engine Market by Fuel Type (Natural Gas & Special Gas), Application (Power Generation, Co-generation, & Mechanical Drive), End-User (Utilities, Manufacturing, & Oil & Gas), Power Output, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global gas engine market is expected to grow at a CAGR of 6.12%, from 2017 to 2022, to reach a projected USD 4.76 Billion by 2022
The growth will be mainly driven by an increase in the demand for clean power generation across globe.
The report segments the gas engine market, on the basis of fuel type, into natural gas, special gas, which includes biogas, landfill gas & sewage gas, and others, which includes producer gas, coal mine gas, wood gas & propane gas. The natural gas segment led the gas engine market, by fuel type, and is used in base load power generation and CHP (combined heat and power) applications. Natural gas fueled gas engines are mainly used for the power generation application by utilities and manufacturing facilities. The gas engines ranging between 5 MW-20 MW mostly utilizes natural gas. The special gas segment is also the fastest growing market due to increased adaptation of biogas and landfill gas in power generation application. Countries around the world are offering subsidies for the biogas and landfill run power plants.
The European market is the largest, by size, and is estimated to grow at the highest rate during the forecast period. Due to stringent environmental norms and low natural gas price, the European market for gas engine is expected to dominate global gas engine market during the forecast period.
The major factor restraining the growth of the gas engine market is inconsistent availability and supply of natural gas in global market. The power generation sector is an energy-intensive sector and energy costs contribute to nearly a third of the manufacturing costs. A majority of the gas engine manufacturers rely on global power generation demand and the high volatility in natural gas prices has become a major restraining factor affecting the growth of the gas engine market.
The market is dominated by a few international players such as, General Electric Company (U.S.), Caterpillar Inc. (U.S.), Wrtsil Corporation (Finland), Rolls-Royce Holdings plc (U.K.), Cummins Inc. (U.S.) that hold a major share of the global gas engine market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Gas Engines Market, By Fuel Type
7 Gas Engines Market, By Power Output
8 Gas Engines Market, By Application
9 Gas Engines Market, By End-User
10 Gas Engines Market, By Region
11 Competitive Landscape
12 Company Profiles
- Caterpillar, Inc.
- Cummins Inc.
- General Electric Company
- Hyundai Heavy Industries Co., Ltd.
- Jfe Holdings, Inc.
- Kawasaki Heavy Industries, Ltd.
- Liebherr Group
- Man Se
- Mitsubishi Heavy Industries, Ltd.
- Niigata Power Systems Co., Ltd
- Rolls-Royce Holdings Plc
- Siemens Ag
- Wrtsil Corporation
For more information about this report visit https://www.researchandmarkets.com/research/8mg6sc/gas_engine_market
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