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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Gas Engines Market Share
The natural gas sector commands a significant market share and is expected to experience substantial growth in the forecast period, thereby boosting the growth of the gas engines market. The market's size for natural gas is driven by its abundance and its role as a primary energy source on Earth.
Gas Engines Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, The market reached a value of approximately USD 5.04 billion.
The market is estimated to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 8.35 billion by 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major drivers of the market include the stringent government regulations aimed towards energy conservation and curbing environment pollution, rising applications of gas engines in cogeneration systems, and growing adoption of LNG-fuelled vessels.
Natural gas, and special gas, among others, are the major fuel types for gas engines.
The market segmentation on the basis of power output is 0.5-1 MW, 1-2 MW, 2-5 MW, 5-10 MW and 10-20 MW.
Utilities, manufacturing, and oil and gas, among others are the significant end users of the product.
Power generation, cogeneration, and mechanical drive, among others, are the major applications in the market.
The market key players are Caterpillar Inc., Rolls-Royce Holdings plc, Cummins Corporation, Siemens AG, and Hyundai Heavy Industries Co., Ltd., among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124