Gas Engines Market Analysis by Fuel Type (Natural Gas, Special Gas, Others), End Use (Utilities, Marine, Oil & Gas, Manufacturing, Others), Power Output (1-2 MW, 2-5 MW, 5-15 MW, Above 15 MW), Application & Region- Forecast to 2022-2032

DUBAI, United Arab Emirates, Feb. 28, 2022 (GLOBE NEWSWIRE) -- According to a recent analysis issued by FMI, the gas engines market share is likely to reach US$ 7.47 billion by 2032, up from US$ 4.6 billion in 2021, expanding at a steady CAGR of 4%. The analysis concludes that the increasing demand for gas engine generators is proportional to the increase in gas engine use.

Attributes	Details
Gas engines Market Size (2022)	US$ 4.8 Bn
Gas engines Market CAGR (2022-2032)	4.1%
Gas engines Market Attraction	Rising demand for clean and efficient power production technologies to increase adoption.

Consumption of energy on a global scale has risen dramatically during the last decade. This increase is due to the Asia Pacific region's rising economy. As a result, natural gas is frequently used as a bridge fuel to help economies move to renewables and other sustainable energy sources.

Natural gas accounted for around 25% of total primary energy consumption worldwide in 2020 and is expected to grow. In addition, natural gas-fired power plant stations are more affordable and straightforward to construct than coal-fired power plants.

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When gas motor for bicycle is utilized instead of coal, air quality generally improves. As a result, demand for all sorts of gasoline engine fuels increased. Cogeneration, trigeneration, and quad generation technologies further improve the efficiency of gas-fired power plants. In industrialized nations such as the United States, the United Kingdom, Germany, and Ireland, cogeneration and trigeneration systems are used. 

The efficiency of combined heat and power plants ranges from 60% to 80%. As a result, developing countries will soon adopt gas engines to attain operational excellence and significantly cut their carbon footprint. On the other hand, COVID-19 has severely damaged the world economy and energy industry, disrupting supply chains and suffocating demand. 

"Throughout the projected period, the increased need for environmentally friendly and efficient power generation technology is expected to drive the gas engines market. As a result, COVID-19 has impacted the global healthcare business and has also had a detrimental effect on the worldwide economy. It has had a significant economic impact on a wide range of industrial sectors, including manufacturing, power generation, renewable energy, nuclear energy, and oil and gas."

Key Takeaways:

• Rising energy consumption and worries about energy security will drive demand for natural gas and mini gasoline engine in the coming years. In addition, the inexpensive cost of gas and its ease of transportation and handling have sparked considerable interest in the desire for gas-powered engines. 
• The global gas engines market may be divided into 10–20 M.W., 5–10 M.W., 2–5 M.W., 1–2 M.W., and 0.5–1 M.W. segments based on power output. Therefore, the 10-20 M.W. and 5-10 M.W. categories are predicted to have the largest market share, followed by the 2-5 M.W. categories.
• Engine manufacturers have responded by offering new, purpose-built natural gas engines ranging in size from tiny light-duty engines rated at a few kW to low-speed two-stroke fuel marine engines rated at more than 60 M.W. 
• Rapid urbanization and rising worldwide population are two significant factors driving power demand, particularly the honda gx270 generator in emerging nations, boosting the global gas engines market growth. 

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Competitive Landscape

The global gas engines market is dominated by Rolls-Royce Holdings (U.K.), Volkswagen (M.A.N. Energy Solutions) (Germany), Siemens Energy (Germany), INNIO (Austria), Cummins (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Ningbo C.S.I. Power & Machinery Group Co., Ltd. (China), I.H.I. Power Systems (Japan), J.F.E. Engineering Corporation (Japan)

• Rolls-Royce Holdings will introduce engine running periods of up to 96,000 hours between overhauls (T.B.O.) for the newest MTU Series 4000 engines for commercial maritime applications in December 2021. In general, depending on the duration and intensity of operation, all marine engines of the newest MTU Series 4000 may now run for up to 25 years before requiring significant maintenance.
• Caterpillar (U.S.) bought Carbon Point Solutions (U.S.) in September 2021 to concentrate and trap CO2 for use. Carbon capture systems based on patented technologies can be used in engines and gas turbo at oil and gas sites, distributed power plants, industrial plants, and waste-to-energy sites. This collaboration will aid in the reduction of greenhouse gas emissions.
• Siemens Energy (Germany) inked a deal in April 2021 with Spanish E.P.C. contractor TSK to offer highly efficient energy technologies and services to Atinkou (previously known as Ciprel V), a new combined-cycle gas power station to be built in Jacqueville, Côte d'Ivoire.
  

Comparative View of Adjacent Gas Engine Market

Attributes	Gas Engine Market		Gas Turbine Market		Industrial Gas Turbine Market
CAGR (2022 - 2032)	4.1%		4%		2%
Market Value (2026)	US$ 5 Bn		US$ 23 Bn		US$ 5.9 Bn
Growth Factor	Rising demand for clean power generation sources to drive adoption.		Demand to remain high as gas turbine is deemed as reliable electricity generation source.		Regulatory mandates for GHG emissions to drive sales.
Opportunity	Asia Pacific is a key market to focus on.		Japan holds high market attractiveness quotient.		Shift from coal-based to gas-based power generation source to offer opportunities.
Key Trends	Replacement of aging power generation infrastructure to offer opportunities.		Prioritize manufacturing of gas turbines with a load capacity to 300 MW.		Diversify portfolio for district heating and marine propulsion.

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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