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Global Gas Engines Market Size, Share, Development, Growth and Demand Forecast to 2022 By P&S Market Research

04-14-2017 02:33 PM CET | Energy & Environment

Press release from: P&S Market Research

Global Gas Engines Market Size, Share, Development, Growth

The global gas engines market is likely to witness considerable growth during the forecast period (2016 - 2022). This growth can be owed to significantly rising electricity demand, drop in natural gas prices, increasing environmental alarms and growing requirement to diminish CO2 emissions. Gas engines are widely used in utilities, oil and gas, manufacturing, hospitals and commercial complexes. Additionally, companies are focusing on utilizing gas engines in stationary and mobile applications. Based on end-user, the utilities segment is forecasted to lead the global market, in terms of growth rate, over the next five years.

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In terms of application, the global gas engines market has been segmented into electricity generation and co-generation. Out of the two, co-generation segment is projected to emanate the higher growth rate in the global gas engines market, during the forecast period. Since, gas engines that operate in co-generation mode are efficient and exhibit strong demand. Also, the efficiency of the power plant operating in the co-generative mode is nearly double than that of gas engines used for electricity generation purposes.

Based on fuel type, natural gas was the largest segment in the global gas engines market, in terms of value, in 2015. The segment is expected to report the fastest growth rate, during the forecast period. The low fuel costs and the relatively lower carbon emissions from natural gas are projected to act as major drivers for the global market growth, during the forecast period; however, factors such as increasing concerns over stable natural gas supply and price disparity in the international trade of natural gas are expected to limit the growth of the global gas engines market, during 2016 - 2022.

Browse For Related Research: www.psmarketresearch.com/industry-report/power-and-energy

Based on electrical output, the 1.0 MW-2.0 MW segment accounted for the largest revenue in the global gas engines market, in 2015. of the factors that drove the market for this segment are growing investments in distributed power generation capacity and increasing application in the manufacturing industry. Gas engines are used for co-generation and tri-generation applications.

Europe has been the biggest and the fastest market for global gas engines, in terms of value, followed by North America. The stringent emission regulations, low fuel cost and growing environmental concerns are some of the major factors driving the growth of the gas engines market in the European region. Countries such as Russia, the U.K., Germany and Italy are showcasing significant growth in demand in the European region on account of huge demand for gas engines in these nations.

About P&S Market Research

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

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