Global Gas Engine Market Research Report: Forecast (2024-2030)

Global Gas Engine Market Report - By Fuel Type (Natural Gas, Biogas, Other Special Gases, Hybrid), By Power Output (Upto 1 MW, 1.1-5 MW, 5.1-10 MW, 10.1-20 MW, Above 20 MW), By App......lication (Power Generation, Grid Balancing, Heat Generation, Industrial, Others), By End-Use Industry (Power Utilities, Manufacturing, Combined Heat & Power, Marine, Others), and Others Read more

  • Energy
  • Aug 2024
  • 187
  • PDF, Excel, PPT

Market Definition

Gas engines are combustion as well as internal combustion engines that utilize the heat from the burning of chemical energy to mechanical energy. Various fuels used are natural gas, biogas, special gases such as coal gas, landfill gas, etc. Such engines are used in many industries such as power plants, marine, industrial sites, and others.

Market Insights & Analysis: Global Gas Engine Market (2024-30):

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.

Report Coverage Details
  Historical Years 2019-22
  Base Years
2023
  Forecast Years
2024-30
  Market Value in 2023 USD 5.02 Billion
  Market Value (2030) USD 7.2 Billion
  CAGR (2024-30) 5.35%
  Leading Region Asia-Pacific 
  Top Key Players   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, and   others 
  Key Report Highlights
  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

 

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Additionally, with the rising concerns about climate change and booming carbon emissions globally, gas engine original equipment manufacturers (OEMs) are consistently conducting research to develop not only fuel-efficient engines but also low-carbon-emitting gas engines. Also, in line with the upcoming energy transition to clean energies such as hydrogen, and methanol, the OEMs have been focusing on creating engines that would be able to run on hydrogen or methanol in the future years. These engines would either replace natural gas or run on a hybrid model with natural gas when the clean energies would be commercialized worldwide. Companies such as MAN Energy Solutions, INNIO, and several others are offering hybrid and future-proof solutions to their customers.

Furthermore, the steadily increasing maritime transport is also resulting in a concerning amount of carbon emissions amounting to nearly 3% of the total global carbon emissions. As per the United Nations Conference on Trade and Development (UNCTAD), almost 98% of the shipping industry relies on fossil fuels, however, in the coming years, about 21% of the total shipping vessels are expected to run on natural gas, methanol, and hybrid systems. Hence, a greater demand for gas engines for the marine industry is expected to support the Global Gas Engine Market growth during the forecast period.

  1. Market Segmentation
  2. Introduction
    1. Market Definition
    2. Research Process
    3. Assumption
  3. Executive Summary
  4. Global Gas Engine Market Trends & Insights
  5. Global Gas Engine Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Global Gas Engine Market Hotspot & Opportunities
  7. Global Gas Engine Market Supply Chain Analysis
  8. Global Gas Engine Market Regulation & Policy
  9. Global Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1.  By Fuel Type
        1. Natural Gas- Market Size & Forecast 2019-2030, (USD Million)
        2. Biogas- Market Size & Forecast 2019-2030, (USD Million)
        3. Other Special Gases- Market Size & Forecast 2019-2030, (USD Million)
        4. Hybrid- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output
        1. Upto 1 MW- Market Size & Forecast 2019-2030, (USD Million)
        2. 1.1-5 MW- Market Size & Forecast 2019-2030, (USD Million)
        3. 5.1-10 MW- Market Size & Forecast 2019-2030, (USD Million)
        4. 10.1-20 MW- Market Size & Forecast 2019-2030, (USD Million)
        5. Above 20 MW- Market Size & Forecast 2019-2030, (USD Million)
      3.  By Application
        1. Power Generation- Market Size & Forecast 2019-2030, (USD Million)
        2. Grid Balancing- Market Size & Forecast 2019-2030, (USD Million)
        3. Heat Generation- Market Size & Forecast 2019-2030, (USD Million)
        4. Industrial- Market Size & Forecast 2019-2030, (USD Million)
        5. Others- Market Size & Forecast 2019-2030, (USD Million)
      4.  By End-Use Industry
        1. Power Utilities- Market Size & Forecast 2019-2030, (USD Million)
        2. Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
        3. Combined Heat & Power- Market Size & Forecast 2019-2030, (USD Million)
        4. Marine- Market Size & Forecast 2019-2030, (USD Million)
        5. Others- Market Size & Forecast 2019-2030, (USD Million)
      5.  By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6.  By Company
        1. Competition Characteristics
        2. Revenue Shares
  10. North America Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output- Market Size & Forecast 2019-2030, (USD Million)
      3. By Application- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
      5. By Country- Market Size & Forecast 2019-2030, (USD Million)
        1. The US
        2. Canada
        3. Mexico
    3. The US Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    4. Canada Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    5. Mexico Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
  11. South America Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output- Market Size & Forecast 2019-2030, (USD Million)
      3. By Application- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
      5. By Country- Market Size & Forecast 2019-2030, (USD Million)
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    4. Argentina Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
  12. Europe Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output- Market Size & Forecast 2019-2030, (USD Million)
      3. By Application- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
      5. By Country- Market Size & Forecast 2019-2030, (USD Million)
        1. The UK
        2. Germany
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. The UK Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    4. Germany Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    5. France Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    6. Italy Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    7. Spain Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
  13. The Middle East & Africa Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output- Market Size & Forecast 2019-2030, (USD Million)
      3. By Application- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
      5. By Country- Market Size & Forecast 2019-2030, (USD Million)
        1. Saudi Arabia
        2. The UAE
        3. South Africa
        4. Rest of the Middle East & Africa
    3. Saudi Arabia Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    4. The UAE Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    5. South Africa Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
  14. Asia-Pacific Gas Engine Market Outlook, 2019- 2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
      2. By Power Output- Market Size & Forecast 2019-2030, (USD Million)
      3. By Application- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
      5. By Country- Market Size & Forecast 2019-2030, (USD Million)
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Australia
        6. Rest of Asia-Pacific
    3. China Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    4. Japan Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    5. South Korea Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    6. India Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
    7. Australia Gas Engine Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Size & Analysis
        1. By Fuel Type- Market Size & Forecast 2019-2030, (USD Million)
        2. By End-Use Industry- Market Size & Forecast 2019-2030, (USD Million)
  15. Global Gas Engine Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles
      1. Wartsila
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Cummins Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Caterpillar
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Rolls-Royce Holdings
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. MAN Energy Solutions
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Siemens Energy
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Mitsubishi Heavy Industries, Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Innio
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Hyundai Heavy Industries Co., Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Scania CV AB
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Kawasaki Heavy Industries, Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Ningbo C.S.I. Power & Machinery Group Co., Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. IHI Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. JFE Engineering Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Liebherr Group
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances Or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      16. Others
  17. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

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Data Trangulation

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