[180+ Pages Report] Global Gas Engine market was estimated at USD 4 Billion in 2019 and is expected to grow to USD 5.82 Billion by 2026, growing at a CAGR of 5.5% through 2026.
The data published in the global gas engine market report illustrates all-encompassing information related to the market comprising analysis and forecast. The analysts provide the market's historical data from 2015 to 2018, current position, and forecasted growth trend of the global market during 2019–2025. The predictive market evaluation for the forecasted period in terms of value is USD Million. The analysts employed multiple market research tools and statistical techniques such as PESTEL analysis, Porter's Five Forces, and SWOT analysis for the effectual analysis of the market on a global and regional basis.
The analysts used both primary and secondary resources to collate the information and evaluate the current and forecasted size of the global gas engine market. The report provides descriptive information regarding the key drivers & restraints that are affecting the market growth along with its demand & supply chain, geographical segmentation, and key market players. Effective data models designed by the analysts are exploited to generate accurate figures related to market size and growth. Comprehensive information about the global gas engine market share of each dominating player is also published in the report. Besides this, the report portrays the market analytical data in a graphical and pictorial format to make it intelligible.
A gas engine operates on an internal combustion mechanism using natural gas, biogas, producer gas, or coal gas as a fuel. Gas engines are primarily used to fulfill the mounting demand for power across the globe. Gas engines are being preferred globally owing to its low emission ability, higher efficiency, reduced noise creation, and lesser vibrations. Moreover, the maintenance cost for the gas engine is quite reasonable compared to diesel engines.
The rapid urbanization and rise in the global population are the two key factors fueling the demand for electricity, especially in the developing economies, which in turn is propelling the global gas engines market.
However, natural gas availability is invariable as some countries have huge reserves of gas while other countries have limited or negligible reserves for the gas. This has led to considerable price differences for distributors and customers, which is a key restraining factor for the gas engine market throughout the forecast period.
The global gas engines market is segmented based on its fuel type, power output, end-user, application, and region. By power output, the market is bifurcated into 10–20 MW, 5–10 MW, 2–5 MW, 1–2 MW, and 0.5–1 MW. By fuel type, the market is categorized into natural gas, special gas, and others. By the end-user, the market is divided into manufacturing, oil & gas, utilities, and others. By application, the market is classified into cogeneration, power generation, mechanical drive, and others. Furthermore, based on the region, the global gas engine market is categorized into North America, Europe, Asia Pacific, The Middle East & Africa, and Latin America.
The key players involved in the global gas engine market are Volkswagen AG, Renault SA, General Motors, Caterpillar Incorporated, AGCO Corporation, Volvo AB, Bosch, Mitsubishi Heavy Industries, Rolls-Royce Holdings plc., Ford Motor, Toyota Motor Corporation, Shanghai Diesel Engine Company Limited, Mahindra & Mahindra Limited, Fiat S.p.A., and MAN SE.
Global Gas Engine : Regional Segment Analysis
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