Global Gas Engine Market Analysis (2015 to 2025) - Business Intelligence Report

Report Title:

Global Gas Engine Market Report – Forecasts to 2025

By Fuel (Natural Gas, Bio Fuel) By Application (Power Generation, Cogeneration), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitor Analysis

Request a sample copy of the report @: https://www.globalmarketestimates.com/global-gas-engine-market-analysis-fuel-natural-gas-bio-fuel-application-power-generation-cogeneration-region-north-america-europe-central-south-america-middle-east-af/

Market Analysis:

The global gas engine market is estimated to grow at a high CAGR over the forecast period. This market is highly influenced by the preference of sustainable and eco-friendly solution. The rising demand for electricity has lead to an increased preference for sustainable modes of energy. Natural, biomass, and coal are some common gases that have a strong hold on the market.

Growing urbanization and globalization has led to rapid consumption of electricity. Electric vehicles, households, production, and manufacturing companies are the main consumers of electricity. Simultaneously, several countries such as France, Canada, Finland, and Germany across the globe have reduced the use of coal for energy and have shifted to natural gases to reduce greenhouse emissions.

Natural gas is an abundant, sustainable, flexible, and recoverable resource. Air pollution and carbon emission can be reduced largely by the use of these gasses. It can now be available in the form of liquefied natural gas (LNG) which can be used for shortage of supply in countries. These are substitutes for diesel and petroleum which cause lesser pollution and are cost effective as compared to the coal-fired plants.

Biogas is also used in households to replace costlier alternatives. It is effective in cooking, cooling, and lighting at homes. Biogas can be used directly or for generating electricity. The main component of biogas is methane which has the maximum energy content. It is an environmentally attractive solution to diesel and gasoline.

Fuel Type Insights:

In 2016, the natural gas segment occupied a large share and is expected to grow at a decent rate over the forecast period. It is the most commonly used fuel for power gas engines as it is more cost effective than biomass products. This segment is driven by the increased demand for power generation applications.

Bio-fuels have high oxygen level of almost 40% while petroleum has none. Different fuels can be produced using biomass such as liquid fuels including ethanol, biodiesel and gaseous fuels such as methane and hydrogen.

Bio fuel is used predominantly in the transport sector. They are also used to fuel cells or engines for electricity generation. Presently European Union (EU) policies are focusing on alternative motor fuels, hence promoting the use of bio fuels.

Application Insights:

In 2016, power generation occupied a large share in this industry. The spurt in energy demand is projected to drive power generation stations which in turn are creating a market for gas-fired power plants. New gas-fired plants are being installed by governments of developing nations around the world; on the other hand, developed nations are investing in their existing gas-fired plants.

Energy saving initiatives and demand for environmentally friendly solutions is anticipated to augment market growth. Gas energies are widely consumed in the manufacturing and electronic sector on account of its low cost and sustainability. Cogeneration is one of the other applications of gas engines and is the fastest growing segment over the forecast period.

Cogeneration is a more thermally efficient method (by saving 60% energy as compared to other methods) of using fuel for electricity generation; as the other process involves a significant loss of thermal energy. In this process, the excess generation of heat can be useful for space and water heating. It is majorly used in chemical, steel mills and food processing plants. End users generally focus on overall efficiency which is anticipated to boost the cogeneration segment.

Regional Insights:

Europe Middle East Africa (EMEA) accounted for the highest share in natural gases for the past 5 years. Middle East has a significant presence of natural gas. Market growth will be driven by the increasing demand for gas-based power generation to feed the rising energy demandin the region.. Regional governments and financial institutions are making huge investments towards the products further development.

In 2016, Europe was estimated as the leading market for gas engines. Europe's various policies for controlling CO2 emissions; increased biogas production, and well-established distribution network are some of the factors expected to positively impact growth. Some of the top companies in this market are Caterpillar Inc., General Electric Company, Wartsila Corporation, Rolls-Royce holdings Plc, and Cummins Inc.

End-use Landscape:

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase gas engine over the coming years. Some leading purchasers of the gas engine market are GE Jenbacher, GE Waukesha Gas Engines, and MAN EcoCity buses. Duel fuel engines are the new inventions of the market, the engines can shift between fuels according to the need of the task.

Competitor Analysis:

The market is competitive and focuses on increasing revenue share. The industry is constantly introducing gas engines with improved efficiency. Some countries are focusing on building gas power plants and expanding their power generation grids. The products low price coupled with the reduced preference for coal-powered power plants have to lead to a great demand for natural gas.

GE Jenbacher engines use natural, sewage, mine, bio, landfill gas, and coal. These gases help the company reduce the impact of greenhouse gasses on the atmosphere. Low Carbon Emission Bus (LCEB), MAN EcoCity buses run on these engines. Some of the top companies in this market are Caterpillar Inc., General Electric Company, Wartsila Corporation, Rolls-Royce holdings Plc, and Cummins Inc.

The price of CNG fuel is related to the quantity used on a daily basis. These engines can offer high energy efficiency and can work at par with diesel engines to obtain reliable results and be cost efficient at the same time. The Mexican government passed an energy reform bill in December 2013 that granted natural gas engines access to retail markets. Such favourable policies are expected to increase preference for independent flexible gas-fired power plants.

Check the Table of Content for the report @: https://www.globalmarketestimates.com/global-gas-engine-market-analysis-fuel-natural-gas-bio-fuel-application-power-generation-cogeneration-region-north-america-europe-central-south-america-middle-east-af/

Research Methodology:

1. The global Gas Engine market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

2. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Gas Engine market.

3. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.

4. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, demand forecasting, market share analysis, SWOT analysis of the company’s manufacturing Gas Engine, and customer analytics.

Buy the report @: https://www.globalmarketestimates.com/global-gas-engine-market-analysis-fuel-natural-gas-bio-fuel-application-power-generation-cogeneration-region-north-america-europe-central-south-america-middle-east-af/

We’re a team of 50+ full-time and 200+ part-time analysts who have proven record in business intelligence and consulting. We’ve expertise across various industry verticals including Aerospace & Defence, Agriculture, Automotive & Transportation, Chemicals & Advanced Materials, Food & Beverages and Healthcare.

Name: Global Market Estimates Research & Business Consultants
Address: A-9, Silver Croft CHSL, Mumbai:400064, India
Contact No,: +91 9146632316
Email Address: sales@globalmarketestimates.com

This release was published on openPR.