Gas engines are predominantly used in industrial applications, owing to their extreme reliability and the lesser fuel usage than diesel engines. Gas engines are mainly used as heavy-duty industrial engine for power generation. Continuous power supply enables industrial and commercial organizations to work without any loss in productivity. Gas engines also ensure safe operations by the implementation of safety valves, forces purging (ventilation) and modern electronic detection integrated system for back-pressure control and detection of misfiring and are also a reliable source of energy for manufacturing and oil & gas industries.
Gas engines are classified based on the fuel type as natural gas, special gas and others. Natural gas-fired engines are expected to lead the Global Gas Engines Market during the forecast period, and are expected to contribute as the fastest growing segment, by fuel type. The recent shale gas exploration resulted in a drop in natural gas prices across the world. Natural gas is economic and causes less emission as compared to fossil fuel. These are the key drivers of the natural gas-fired gas engines market.
Gas Engines Market is expected to grow over the CAGR of around 7% during the period 2017 to 2023
The key players of global gas engines markets are
- General Electric Company (U.S.),
- Caterpillar Inc. (U.S.),
- Wärtsilä (Finland),
- Rolls-Royce Holdings plc (U.K),
- Cummins Inc. (U.S),
- Siemens AG (Germany),
- Man SE (Germany),
- Kawasaki Heavy Industries, Ltd. (Japan),
- Mitsubishi Heavy Industries, Ltd. (Japan),
- Deutz AG (Germany),
- Yanmar Co., Ltd. (Japan)
- Doosan Infracore (South Korea).
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Power Generation segment is expected to hold the largest share in the gas engines market from 2017-2023
The increasing electricity demand around the world and replacement of coal-fired power plants with natural gas power plants, is accounting for the largest share for power generation segment in gas engine market. As the prices of natural gas are lowering currently and subsequent withdrawal of coal-fired power plants around the world are boosting the gas engine power generation segment. Several economies are focusing on the expansion of their power generation grids by building natural gas power plants, which in turn, will increase the overall market share of power generation segment in global gas engine market.
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Table of Content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Gas Engines Market, By Fuel Type
4.2 Natural Gas
4.3 Special Gas
5 Global Gas Engines Market, By Application
5.2 Power Generation
6 Global Gas Engines Market, By Power
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