MarkNtel Advisors – Leading Market Research Company found Global Gas Engine Market is expected to reach 5.35% CAGR Growth By 2030.

This report provides a comprehensive analysis of the Global Gas Engine Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.

Comprehensive Analysis of the Gas Engine Market

Base Year: 2023

Forecast Years: 2024-2030

Historical Years: 2019-2022

If you’re interested in the assumptions considered in this study, you can download the PDF brochure-  - https://www.marknteladvisors.com/query/request-sample/gas-engine-market.html

Scope of the Gas Engine Market Report:

The Global Gas Engine Market size was valued at around USD 5.02 billion in 2023 and is projected to reach around USD 7.2 billion by 2030. The market is also estimated to grow at a CAGR of around 5.35% during the forecast period, i.e., 2024-30. The market growth is attributed to the growing establishment of decentralized and distributed energy systems across the globe.

The increasing need for electricity from numerous existing as well as new sectors such as transportation, industrial manufacturing, combined heat & power (CHP), etc., are creating the demand for decentralized and distributed energy systems. Moreover, with the rapid transformation in the industrial sector combined with the sector's aim to reduce its contribution to the total carbon emissions, many organizations in the industrial manufacturing sector have been switching to cleaner sources instead of burning coal & diesel. The main industries are the cement and steel industries.

Which prominent factor is expected to drive the Gas Engine Market during 2024-30?

Increasing Need for Efficient & Effective Energy Sources Driving Market Growth – The high energy density of natural gas and significantly low carbon emissions, when compared to the commonly used diesel engines, have been the main driving force behind integrating gas engines across the globe. The gas engines are actively installed at CHP plants, decentralized energy systems, etc., in line with the engine's ability to give more energy efficiency, low noise pollution, and economical fuel and maintenance costs. Also, the capability of gas engines to switch easily and quickly to other fuels such as biogas, landfill gas, coal gas, etc., from natural gas is considered a crucial advantage in areas where a low amount of power is to be generated such as during peak-shaving, stabilizing the grid, amongst others.

In addition, many end-users primarily manufacturing units attain their sustainability goals without any compromise on the production process and output, by establishing waste to heat and power plants at their facilities. Innio’s Jenbacher gas engines have been providing sustainable solutions to many organizations around the world. From 2011 up to 2023, Innio through its distributor Clarke Energy has provided gas engine solutions for converting waste to heat and power to BioTown Biogas in the US, with total electric output amounting to approximately 7.7MW. The growing level of waste generation and the need for electricity at manufacturing sites help the revenue growth of the Global Gas Engine Market.

What are the different Segment Available in the Gas Engine Market?

By Fuel Type

• Natural Gas- Market Size & Forecast 2019-2030, (USD Million)
• Biogas- Market Size & Forecast 2019-2030, (USD Million)
• Other Special Gases- Market Size & Forecast 2019-2030, (USD Million)
• Hybrid- Market Size & Forecast 2019-2030, (USD Million)

By Power Output

• Upto 1 MW- Market Size & Forecast 2019-2030, (USD Million)
• 1-5 MW- Market Size & Forecast 2019-2030, (USD Million)
• 1-10 MW- Market Size & Forecast 2019-2030, (USD Million)
• 1-20 MW- Market Size & Forecast 2019-2030, (USD Million)
• Above 20 MW- Market Size & Forecast 2019-2030, (USD Million)

 By Application

• Power Generation- Market Size & Forecast 2019-2030, (USD Million)
• Grid Balancing- Market Size & Forecast 2019-2030, (USD Million)
• Heat Generation- Market Size & Forecast 2019-2030, (USD Million)
• Industrial- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)

 By End-Use Industry

• Power Utilities- Market Size & Forecast 2019-2030, (USD Million)
• Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
• Combined Heat & Power- Market Size & Forecast 2019-2030, (USD Million)
• Marine- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)

 By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/gas-engine-market.html

Leading Gas Engine companies operating in the Market

• Wartsila
• Cummins Inc.
• Caterpillar
• Rolls-Royce Holdings
• MAN Energy Solutions
• Siemens Energy
• Mitsubishi Heavy Industries, Ltd.
• Innio
• Hyundai Heavy Industries Co., Ltd.
• Scania CV AB
• Kawasaki Heavy Industries, Ltd.
• Ningbo C.S.I. Power & Machinery Group Co., Ltd.
• IHI Corporation
• JFE Engineering Corporation
• Liebherr Group
• Others.

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