Gas Engine Market by End-user and Geography - Forecast and Analysis 2020-2024

 

Gas Engine Market will register a CAGR of % during 2020-2024. The market’s growth momentum will Accelerate.

Expanding gas generator market will be one of the major factors driving the growth of this market. Additionally, key Gas Engine Market trends such as the Development of nano coating will also influence market growth during the forecast period.

Gas Engine Market Size

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During the forecast period, the Gas Engine Market size will grow by $ 1.85 billion.

Gas Engine Market : Vendors

The market is fragmented and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Gas Engine Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the Irregularities in natural gas reserves and supplies | Efficiency problems | Increase in renewable energy sources will also challenge the growth of the companies.

Caterpillar Inc. | Cummins Inc. | Doosan Infracore Co. Ltd. | Hyundai Heavy Industries Co. Ltd. | INNIO Jenbacher GmbH & Co. OG | Kawasaki Heavy Industries Ltd. | MAN SE | Mitsubishi Heavy Industries Ltd. | Rolls-Royce Plc | Siemens AG.list

are some of the companies covered in Technavio’s Gas Engine Market report for 2020-2024.

Gas Engine Market : Region-level Analysis

The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Gas Engine Market.

The Europe will account for the largest Gas Engine Market share and during 2020-2024, the region will contribute to 44% of the market’s growth.

In addition to regions and the key companies involved, Technavio’s Gas Engine Market report also analyzes the market by Power | Industrial | Residential | Commercial | Titanium dental implants | Zirconium dental implants | Europe | North America | APAC | South America.comma

Our Custom Research Solutions can provide tailored Gas Engine Market information to meet your specific requirements.

 

Pre & Post COVID-19 Market Estimates-Global Gas Engine Market 2020-2024 | Evolving Opportunities with Caterpillar Inc. and Cummins Inc.

 

The global gas engine market is expected to grow by USD 1.85 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 7%.

Request challenges and opportunities that influence COVID-19 pandemic - Request free sample pages of the gas engine market

The market is driven by the increase in electricity demand. In addition, the emergence of dual-fuel engines is anticipated to boost the growth of the gas engine market.

Factors such as globalization, rapid urbanization, and changing lifestyle and work culture across sectors have increased the demand for electricity. The adoption of electrical appliances has been increasing exponentially among households. Manufacturing and production processes are being automated and made less labor-intensive. Besides, the growing adoption of electric-vehicles has further increased the demand for electricity. Gas engines are widely used in the production of electricity. With the rise in the demand for electricity, the growth of the global gas engine market will accelerate during the forecast period.

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Major Five Gas Engine Companies:

Caterpillar Inc.

Caterpillar Inc. operates its business through segments such as Resource Industries, Construction Industries, Energy and Transportation, and Financial Products. The company offers G16CM34, which is a natural gas, spark-ignited, V-style, turbocharged and aftercooled engine.

Cummins Inc.

Cummins Inc. operates its business through segments such as Engine, Distribution, Components, Power Systems, and New Power. The company offers B6.7. It leverages the Single Module Aftertreatment System to provide better thermal management, easier service, and reduced space claim for better Shuttle Bus performance and fuel economy.

Doosan Infracore Co. Ltd.

Doosan Infracore Co. Ltd. operates its business through segments such as Engines, Construction Equipment, and Bobcat. GL08P is the key offering of the company. It is a 8 liter-class EURO6 CNG engine equipped with an oxidation catalyst and SCR. It is mounted on city buses.

Hyundai Heavy Industries Co. Ltd.

Hyundai Heavy Industries Co. Ltd. operates its business through segments such as Shipbuilding, Naval and Special Ship, Offshore and  Industrial Plant Engineering, and Engine and  Machinery. The company offers Dual-Fuel Engine which works on both gas fuel and light fuel oil.