Press release
Global Gas Engines Market Research Report 2023: Growth, Recent Trends And Forecast To 2032
Gas Engines Market
Gas Engines Market Size, Growth Rate, And Forecast
The global gas engines market size is expected to grow from $4.74 billion in 2022 to $5.00 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global gas engines market size is expected to reach $6.06 billion in 2027 at a CAGR of 4.9%.
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Gas Engines Market Drivers
The rising usage of natural gas for power generation is expected to propel the growth of the gas engine market going forward. Power generation refers to electricity produced by various factors such as fossil fuels, nuclear power plants, and hydropower that comprises electricity generated in combined heat and power and electricity-only facilities. The modularity and high cost-efficiency of gas engines provide an optimal solution for steady power requirements, as a result, the rising usage of natural gas for power generation increases the demand for the gas engine market
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Gas Engines Market Segments
1) By Fuel Type: Natural Gas, Special Gas, Other Fuel Type
2) By Power Output: 1-2 MW, 2-5 MW, 5-15 MW, Above 15 MW
3) By Application: Power Generation, Mechanical Drive, Cogenerations, Other Applications
4) By End User: Utilities, Marine, Oil And Gas, Manufacturing, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Gas Engines Market.
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Gas Engines Market Key Players
Major competitors in the Gas Engines Market include Caterpillar Inc., Cummins Inc., Siemens AG, Wartsila Oyj Abp, Mitsubishi Heavy Industries Ltd., Hyundai Heavy Industries Co. Ltd., Man SE, General Electric Company, Kawasaki Heavy Industries Ltd., JFE Engineering Corporation, Liebherr Group, Kohler Co., Yanmar Co Ltd., Perkins Engines Company Limited, and Doosan Group
The Business Research Company's "Global Gas Engines Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Gas Engines Market Include:
1. Executive Summary
2. Gas Engines Market Characteristics
3. Gas Engines Market Trends And Strategies
4. Gas Engines Market - Macro Economic Scenario
5. Gas Engines Market Size And Growth
......
26. Africa Gas Engines Market
27. Gas Engines Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Gas Engines Market
29. Gas Engines Market Future Outlook and Potential Analysis
30. Appendix
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