Global Gas engine Market - markNtel

1. Global Gas Engine Market Research Report: Forecast (2024-2030) • GET UPDATED SAMPLE REPORT 2025-2030 • MARKNTEL ADVISORS

2. Company Overviews • MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others. We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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4. Market Insights The Global Gas Engine Market size was valued at around USD 5.02 billion in 2023 and is projected to reach around USD 7.2 billion by 2030. The market is also estimated to grow at a CAGR of around 5.35% during the forecast period, i.e., 2024-30. The market growth is attributed to the growing establishment of decentralized and distributed energy systems across the globe. The increasing need for electricity from numerous existing as well as new sectors such as transportation, industrial manufacturing, combined heat & power (CHP), etc., are creating the demand for decentralized and distributed energy systems. Moreover, with the rapid transformation in the industrial sector combined with the sector's aim to reduce its contribution to the total carbon emissions, many organizations in the industrial manufacturing sector have been switching to cleaner sources instead of burning coal & diesel. The main industries are the cement and steel industries.

5. Market Drivers Increasing Need for Efficient & Effective Energy Sources Driving Market Growth – The high energy density of natural gas and significantly low carbon emissions, when compared to the commonly used diesel engines, have been the main driving force behind integrating gas engines across the globe. The gas engines are actively installed at CHP plants, decentralized energy systems, etc., in line with the engine's ability to give more energy efficiency, low noise pollution, and economical fuel and maintenance costs. Also, the capability of gas engines to switch easily and quickly to other fuels such as biogas, landfill gas, coal gas, etc., from natural gas is considered a crucial advantage in areas where a low amount of power is to be generated such as during peak-shaving, stabilizing the grid, amongst others.

6. Market Segments Global Gas Engine Market Report - By Fuel Type (Natural Gas, Biogas, Other Special Gases, Hybrid), By Power Output (Upto 1 MW, 1.1-5 MW, 5.1-10 MW, 10.1-20 MW, Above 20 MW), By Application (Power Generation, Grid Balancing, Heat Generation, Industrial, Others), By End-Use Industry (Power Utilities, Manufacturing, Combined Heat & Power, Marine, Others), and Others

7. Top Companies Wartsila, Cummins Inc., Caterpillar, Rolls-Royce Holdings, MAN Energy Solutions, Siemens Energy, Mitsubishi Heavy Industries, Ltd., Innio, Hyundai Heavy Industries Co., Ltd., Scania CV AB, Kawasaki Heavy Industries, Ltd., Ningbo C.S.I. Power & Machinery Group Co., Ltd., IHI Corporation, JFE Engineering Corporation, Liebherr Group, and others

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10. MarkNtel Advisors Target Geographies- Focus Areas • MarkNtel has strategically defined its target areas which are based on evaluation by its analysts after analysing the growth potential of various regions. Few of those parameters include: • -Political, Economic, Social, Technological and Environmental Analysis • -Credit Ratings provided by leading institutions • -GDP projections by bodies such as the World Bank, IMF, OECD, etc. • -Market Disruptions and the “Next Big Things”

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