Global Gas Engines Market Size is Projected to Reach USD 5.3 Billion by 2024, from an Estimated Value of USD 4.0 Billion in 2019, Growing at a CAGR of 5.7% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 1, 2020--
The “Gas Engines Market by Fuel Type (Natural Gas, Special Gas) Application (Power Generation, Cogeneration, Mechanical Drive) End-User (Utilities, Manufacturing, Oil & Gas) Power Output (0.5-1MW, 1-2MW, 2-5MW, 5-10 MW, 10-20MW), Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
Gas engines are used mainly for power generation applications and CHP applications.
The growth of the gas engines industry can be attributed to the increasing demand for clean & efficient power generation technology and the implementation of stricter emission regulations. Political instability affecting the supply of natural gas acts as a restraint for the gas engines industry along with price disparity across regional markets. Limited natural gas reserves and infrastructural concerns are the main challenges for the gas engines market.
The cogeneration applications segment is expected to grow at the highest CAGR from 2017 to 2022.
The cogeneration (combined heat and power) generation segment is estimated to be the fastest-growing segment of the gas engines market, by application, from 2019 to 2024. Europe region has witnessed the highest demand for gas engines for cogeneration applications.
In cogeneration, gas engines produce power along with useful heat for space heating and water heating. The cogeneration application majorly includes steel mills, chemical, and food processing plants, paper & pulp mills, and district heating plants. The end-users are mainly focusing on improving the overall efficiency of power plants, which is driving the cogeneration segment market.
Europe: The largest market for gas engines
Europe is currently the largest gas engine market, followed by North America, Asia Pacific, the Middle East & Africa, and South & Central America. The European market is projected to grow at a higher rate due to stringent environmental norms, which led to the use of renewable resources such as biogas, landfill gas, and sewer gas for power generation.
The second key factor that would drive the European market is attractive policy offerings by the European Union for the development of gas-fired power plants, especially special gas power plants. Thus, factors such as the implementation of strict environmental regulations and incentives for gas-fired power plants are expected to drive the European gas engines market.
Why buy this report?
Key Topics Covered:
1.1 Objectives of the Study
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.3 Market Size Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Primary Insights
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Gas Engines Market
4.2 Gas Engines Market, By Fuel Type
4.3 Gas Engines Market, By Power Output
4.4 Gas Engines Market, By Region
4.5 European Gas Engines Market, By Application & Country
4.6 Gas Engines Market, By Application
4.7 Gas Engines Market, By End-User
5 Market Overview
5.2 Market Dynamics
5.3 Effect of Renewable Energy Mix: Gas Engines
6 Gas Engines Market, By Fuel Type
6.2 Natural Gas
6.3 Special Gas
7 Gas Engines Market, By Power Output
7.2 0.5-1 MW
7.3 1-2 MW
7.4 2-5 MW
7.5 5-10 MW
7.6 10-20 MW
8 Gas Engines Market, By Application
8.2 Power Generation
8.4 Mechanical Drive
9 Gas Engines Market, By End-User
9.4 Oil & Gas
10 Gas Engines Market, By Region
10.3 North America
10.4 Asia Pacific
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.2 Ranking of Players and Industry Concentration, 2018
11.3 Competitive Scenario
11.4 Competitive Leadership Mapping
12 Company Profiles
12.4 Rolls-Royce Holdings
12.6 MAN SE
12.8 Mitsubishi Heavy Industries, Ltd.
12.9 Kawasaki Heavy Industries, Ltd.
12.10 Ningbo C.S.I Power & Machinery Group Co., Ltd.
12.11 IHI Power Systems
12.12 JFE Engineering Corporation
12.14 Hyundai Heavy Industries Co., Ltd.
12.15 Jinan Lvneng Power Machinery Equipment Co., Ltd.
12.16 R Schmitt Enertec
12.17 CNPC Jichai Power Complex
12.18 Fairbanks Morse
12.19 Googol Engine Tech
For more information about this report visit https://www.researchandmarkets.com/r/pd62qp
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INDUSTRY KEYWORD: OIL/GAS ENERGY
SOURCE: Research and Markets
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PUB: 01/01/2020 08:31 AM/DISC: 01/01/2020 08:31 AM