Press release
LNG Engine Product Functional Survey 2030
๐๐ก๐ ๐๐ป๐ด๐ถ๐ป๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐: ๐๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ปTransparency Market Research delivers key insights on the global LNG engine market. In terms of revenue, the global LNG engine market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global LNG engine market.
๐๐ข๐๐ฐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/lng-engine-market.html
The global LNG engine market is broadly affected by several factors such as rise in stringent government regulations to reduce carbon emissions. Furthermore, several benefits associated with LNG engine are anticipated to propel the global LNG engine market in the near future.
๐๐ก๐ ๐๐ป๐ด๐ถ๐ป๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐: ๐๐๐ป๐ฎ๐บ๐ถ๐ฐ๐
Ships run on bunker fuel, which causes high level of pollution. Greenhouse gases are also a major concern across the globe. Every year, air pollutants such as carbon monoxide, nitrogen oxide, sulfur oxide, and particulate matter are released in large amounts into the environment. Governments of various countries across the world are implementing rules and regulations to reduce pollution. This is anticipated to propel the global LNG engine market.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81304
In 2017, the U.S. Government and the Government of Canada passed bills to formulate fuel-sulfur limits and NOx emissions in emission control areas in North America. These areas include coastal waters of up to 200 nautical miles from coasts of Alaska and Hawaii.
Vessels entering these areas must meet the requirement that fuel-sulfur concentrations should not exceed 0.10 weight%. Engines above 130 kW installed on vessels built, since 2000 must be certified to meet appropriate emission standards corresponding to the building date of vessels. Engines installed on new and modified vessels are subject to the Annex VI Tier III NOx standards.
From January 1, 2020, member countries of the European Union have been mandated to ensure that ships in all European Union waters, except SOx, use fuels with sulfur content of no more than 0.5%. Furthermore, all ships passing through these NOx emission control areas must use defined mandatory engine standards or equivalent NOx emission reduction technologies to comply with the stringent NOx emission levels.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=81304
LNG engines can play a major role in reducing pollution, as these vessels run on liquefied natural gas. LNG engines help lower greenhouse gas emissions and provide a cost competitive fuel choice versus conventional fuels. Thus, implementation of stringent government regulations to lower emissions is estimated to drive the global LNG engine market during the forecast period.
๐๐๐ ๐๐ง๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ: ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ ๐ข๐จ๐ง๐ฌ
The LNG engine market in Asia Pacific is projected to expand significantly during the forecast period. Asia Pacific is witnessing significant investment in LNG facilities. China, Japan, South Korea, and India are also investing substantially in LNG power generation. This is likely to propel the LNG engine market during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=81304
Europe held major share of the global LNG engine market in 2019. The marine industry is well-established in the region. Europe is focusing on lowering the use of fossil fuels to meet the emission targets set by governments of countries in the region. Companies and government bodies in Europe are investing significantly in renewable energy and green fuels to be emission free by 2050. This can be ascribed to propel the demand for LNG engines in the near future, thereby augmenting the LNG engine market in the region.
๐๐๐ ๐๐ง๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Major players operating in the global LNG engine market are Cummins Inc., Fairbanks Morse, Caterpillar, Wรคrtsilรค Corporation, Rolls-Royce plc, MAN Energy Solutions, Anglo Belgian Corporation nv, MITSUBISHI HEAVY INDUSTRIES, LTD., HHI Engine & Machinery, DAIHATSU DIESEL MFG. CO., LTD., and Scania.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
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