LNG Engine Product Functional Survey 2030

𝗟𝗡𝗚 𝗘𝗻𝗴𝗶𝗻𝗲 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻

Transparency 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.

𝐕𝐢𝐞𝐰 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ 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.

𝗟𝗡𝗚 𝗘𝗻𝗴𝗶𝗻𝗲 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀

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.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 @ 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.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 @ 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.

𝐋𝐍𝐆 𝐄𝐧𝐠𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐬

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ 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.

𝐋𝐍𝐆 𝐄𝐧𝐠𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Major players operating in the global LNG engine market are Cummins Inc., Fairbanks Morse, Caterpillar, Wärtsilä 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.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

Rohit Bhisey
Transparency Market Research Inc.
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