The global gas engines market is expected to grow registering a CAGR of 6.3% during 2016 to 2023. A gas engine is fundamentally an internal burning engine that produces motive power by using a variability of natural gasses as fuel. The simple mechanisms of a gas engine generator comprises an engine, a heat exchanger and a generator. Natural gas, used as fuel in gas engines, is a multipurpose, clean-burning, and effectual fuel that is used in an extensive variability of uses covering the power generation segment, the commercial and residential construction sector, and the industrial sector.
Gas engines are being progressively used for power generation across the globe. The demand is increasing for the electricity and the drop in natural gas prices are likely to drive the gas engines market. Gas engines are getting into stationary as well as mobile applications, and are active in utilities, the oil & gas industry, manufacturing industries, hospitals and commercial complex. There is environmental worries and need to decrease carbon dioxide releases, the demand for gas engines is set to increase in future years. From a standard of about $100/barrel in the past decade, the price of Brent crude, the main international benchmark, shrunken in late 2014, and has since been oscillating between $40 and $60 per barrel. This put sliding pressure on oil-indexed gas and liquefied natural gas (LNG) contract prices in some global regions, particularly in Europe and Asia. The mixture of these and other complex factors led to a drop in retail natural gas prices across main gas engine markets a favorable driver for gas-based technologies. There are some challenges faced by the company that is limited natural gas reserve, slow global recovery and other macro-economic factors. Macro-economic situations have a clear influence on the market strength for distributed power systems. Many of the world's biggest markets are still fighting to fully recover from the 2008 financial crisis.
Source: OBRC Analysis
The global gas engines market is segmented on the basis of by type, by application, by end user and by power. On the basis of type, market is sub segmented into:
- Natural gas market
- Special gas market
- Other gas market
The global gas engines market segments on the basis of end-user industry into:
- Oil & gas
- Utilities
- Manufacturing
- Others
In terms of application segment, market is sub segmented into:
- On power generation market
- Co-generation market
- Other market
By power output, market is sub-segmented into:
- 0.5-1 MW
- 1-2 MW
- 2-5 MW
- 5-10 MW
- 10-20 MW
The revenue for the above application and end-user vertical segments are specific to the global gas engine market. However, the total revenue of these application and end-users verticals in general has been excluded from the scope of the report.
Geographically, the global gas engine market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
Europe is presently the biggest as well as the fastest emergent market for gas engines. The increasing green worries, low cost of natural gas, and inflexible emission guidelines are enhancing the demand for gas engines in the region. The European market is mainly driven by countries such as Russia the U.K., Germany and Italy, where there is a huge demand for gas engines. The market in this region is expected to raise at a high rate, with Germany estimated to show the fastest growth in the region. Further, North America is projected to be a fastest growing region due to growth in the natural gas transportation network and rising demand for gas engines from industries such as power and automotive.
Based on by type segment the market report is classified into natural gas , special gas and others of which natural gas segment led the gas engine market in 2016 since it is highly used as a fuel for power gas engines also it is cost-effective than other fuel types such as biogas, sewer gas. The end-user verticals includes oil & gas ,utilities, manufacturing and others. The segment by application can further segmented into power generation, co-generation and others of which power generation is expected to be the largest segment of the gas engine market due to rising demand for new gas-fired power plants due to the increasing energy demands, which, in turn, is driving the power generation application segment of the gas engine market. By power output segment the market is further classified into 0.5-1MW, 1-2 MW, 2-5 MW, 5-10 MW and 10-20 MW.
The major market players of the global gas engine market are:
- Caterpillar Inc.
- Cummins Inc.
- Doosan Infracore General Electric Company
- Deutz AG and Kawasaki Heavy Industries
- Hyundai Heavy Industries Co. Ltd.
- Man SE, Mitsubishi Heavy Industries
- Wartsila Corporation
- Others
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis. These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. In a strategic move on August 2016 Wartsila Corporation and Gasum, Finland based company signed a joint cooperation agreement to develop, distribution, and service solutions for natural gas in marine and onshore applications. This will enhance the company position in the market.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as acquisition, On August 2016 Wartsila Corporation and Gasum, Finland based company signed a joint cooperation agreement to develop, distribution, and service solutions for natural gas in marine and onshore applications.
- Provide in detail the different segments such as by type, by application, by end user and by power which are affecting the global gas engines market.
- Provide you the patent analysis of the global gas engines market.
- Identify and understand the strength, opportunities, challenges and threat of the gas engines market.
- Provide revenues of major players of the market such as Caterpillar and GE. .
- Provide you various the regulatory policies which are affecting the global gas engines market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global gas engines market offers the longest chain of market segmentation covering major market segmentation covering major market segments based on type, end-user, applications and power output. The report tracks the major market trends in the global gas engines market such as the emergence of dual-fuel engines. For each market segments covered in global gas engines market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the gas engines industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global gas engines market:
- A gas engine is fundamentally an internal burning engine that produces motive power by using a variability of natural gasses as fuel.
- Europe is anticipated to account the largest revenue share in 2016.
- The demand is increasing for the electricity and the drop in natural gas prices are likely to drive the gas engines market.
- Increasing government support
- Acquisition is the key strategy adopted by the various market players of global gas engine market.
