Press release
What's Driving Reciprocating Power Generating Engine Market Growth? Siemens AG, MAN Energy Solutions, John Deere, Caterpillar, JCB, Cummins Inc, Kirloskar Oil Engines Limited, Briggs & Stratton, Ashok Leyland
Reciprocating Power Generating Engine Market
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The size of Reciprocating Power Generating Engine Market was registered at 20.8 Billion (USD) in the year 2019 and is anticipated to cross 38.7 (GW) by 2026. Between the period 2020-2026, the Reciprocating Power Generating Engine Market is expected to register a CAGR of 3.7%.
Reciprocating power generating engines could also lower the peak demand placed on the grid by generating power temporarily for a group of customers or an individual electric customer. This lets the customers eliminate or reduce their dependency on the grid when it is under strain, usually during a hot summer day, a period when grid power is apt to be less reliable as well as highly costly.These engines are also used in CHP (combined heat and power) plants. CHP, being highly efficient, channels the engine's exhaust heat as a byproduct for useful purposes, like cooling and heating buildings.
Key Players of Reciprocating Power Generating Engine Market
Wartsila, Mitsubishi Heavy Industries, Siemens AG, MAN Energy Solutions, John Deere, Caterpillar, Inc., JCB, Inc, Cummins Inc, Kirloskar Oil Engines Limited, Briggs & Stratton, Kawasaki Heavy Industries Ltd., Kohler (Clarks Manufacturers), Ashok Leyland, Escorts Group, DEUTZ AG, YANMAR Co. Ltd, MTU Onsite Energy, INNIO
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The heat would otherwise drift into the atmosphere wasted. Since CHP uses one fuel for two purposes, that is generating both heat and electricity it is considered not only an energy efficiency play, but also a way to eliminate carbon dioxide emissions.
The reciprocating power generating engine market is segmented in terms of fuel, rated power, application, and regional landscape.
Based on fuel, the market is bifurcated into duel fuel, gas-fired, diesel-fired, and others. Among these, growing demand for clean and reliable electricity owing to industrial expansion & development of infrastructure will stimulate the product demand for duel fuel. The others fuel segment will observe increasing demand for backup power along with favorable regulatory policies toward sustainable fuel use, thereby stimulating the industry growth.
With respect to rated power, the market is bifurcated into 0.5 MW-1 MW, >1 MW - 2 MW, >2 MW-3.5 MW, >3.5 MW-5 MW, >5 MW-7.5 MW, and > 7.5 MW. It is observed that in the >2 MW-3.5 MW rated power segment, increasing demand for electricity across data centers, commercial complexes and small industrial units will positively influence the business outlook. Rapid urban area development along with surging investments toward electrification of off-grid and remote areas will fuel the > 7.5 MW rated power segment.
Based on application, the market is classified into industrial, landfill & biogas, CHP, energy & utility, and others. Rapid development of indigenous power plants across the industrial establishments will fuel the industry growth.From a regional frame of reference, Middle East & Africa reciprocating power generating engine market will observe increasing investments toward industrial infrastructure including oil & gas, process and manufacturing sectors along with rapid development of electrical network, which would likely propel industry growth.
Table Of Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates & forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Reciprocating power generating engine market 3600 synopsis, 2015 - 2026
2.1.1 Business trends
2.1.2 Fuel trends
2.1.3 Rated Power trends
2.1.4 Application trends
2.1.5 Regional trends
Read More About Reciprocating Power Generating Engine Market At: https://www.globenewswire.com/news-release/2020/03/05/1995640/0/en/Reciprocating-Power-Generating-Engine-Market-worth-26-billion-by-2026-Says-Global-Market-Insights-Inc.html
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