The gas engine market size was valued at $4.2 billion in 2021, and gas engine industry is estimated to reach $6.0 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. A gas engine, also known as an internal combustion engine, is a type of heat engine that converts the energy from burning fuel into mechanical energy to power machinery or generate electricity. Gas engines are commonly used in a wide range of applications, including transportation, power generation, and industrial processes.
The most common types of gas engines include spark-ignition engines, which use a spark plug to ignite the fuel-air mixture, and compression-ignition engines, which use high pressure and temperature to ignite the fuel. Spark-ignition engines are typically used in gasoline-powered vehicles, while compression-ignition engines are used in diesel-powered vehicles and industrial applications.
Get Report Sample PDF @ https://www.alliedmarketresearch.com/request-sample/8201
Gas engines can be designed to run on a variety of fuels, including gasoline, diesel fuel, natural gas, propane, and biofuels. The choice of fuel depends on factors such as cost, availability, and environmental impact. For example, natural gas and propane are commonly used in stationary gas engines for power generation, while gasoline and diesel fuel are used in transportation applications.
The major companies profiled in gas engine market report include Cummins Inc., Caterpillar, Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc, Volkswagen AG, Wärtsilä, Kohler Co., Yanmar Co Ltd., Hyundai Heavy Industries Co., Ltd., China Yuchai International Limited, Siemens, Doosan Corporation, Cooper Corp., INNIO, Kawasaki Heavy Industries, Ltd., Man SE, and JFE Engineering Corporation.
North America would exhibit CAGR of 3.4% during 2022-2031.
As per global gas engine market analysis, by fuel type, the natural gas segment accounted for the largest share in 2021.
By power output, above 15MW type gas engine was the leading segment in 2021.
By application, power generation segment was the highest revenue contributor in 2021.
By end-use, utilities segment has largest market share in 2021.
The demand for gas engines is rising in the power generation industry with new emission control regulations. The industrial sector, including chemicals, metals, and manufacturing industries, is a major contributor to the escalating demand for gas engines. The production of natural gas, which is required for the functioning of gas engines, is growing at a significant rate.
Gas engines are less expensive, environmentally friendly, reliable, and efficient than engines based on other fuel sources, which is propelling their demand. According to Eurostat, natural gas accounts for ~36% of the EU energy consumption. High use in applications such as heating, electricity generation, and vehicle functioning is bolstering the demand for natural gas engines.
The electric power, automotive, manufacturing, and transportation industries, among others, in developing countries are highly dependent on fossil fuels. Rise in population and the lack of supporting infrastructure for electric technologies are the major factors supporting the gas engines market.
Buy This Report (335 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3Z64k33
Electric motors, electric devices, solar plants, and wind projects are more expensive than gas engines, which is driving the preference of various countries toward gas engines as an environment-friendly solution.
Due to rapidly development of industrialisation, modernization and spread of information through internet led to the development of demand for data centers, heavy manufacturing industries, and light manufacturing industries which in-turn has fuelled the demand for gas engine.
Expansion of production capacities, acquisition, partnership and research & innovation in the gas fired power generation systems has led to attain key developments in the global gas engine market trends.
COVID-19 analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies.
In several countries, the renewable sector is mainly dependent on imports from other regions, primarily China. Around 60% of engines and generation sets are produced in the U.S. and are supplied across the globe.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/8201
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: