Global Gas Engines
Market Report
2024
The global Gas Engine market size is USD 5.91 billion in 2024. The Gas Engine market will show the strongest growth with a compound annual growth rate (CAGR) of 5.73% from 2024 to 2031. This growth can be attributed to the industrial and power generation sectors driving gas engine growth significantly.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Gas Engine market size will be USD 5.91 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 5.73% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Gas Engines Market Sales Revenue 2024 | $ 5.91 Billion |
Global Gas Engines Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.73% |
Market Split by End-User Industry |
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Market Split by By Fuel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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The growth of gas engines is primarily driven by several key factors in the market, such as environmental regulations and the global push towards reducing emissions have prompted industries to seek cleaner alternatives to traditional fossil fuels. Gas engines offer lower emissions compared to diesel engines, making them attractive for applications where environmental impact is a concern. Secondly, advancements in technology have improved the efficiency and reliability of gas engines, making them more competitive and viable for a wide range of industrial and power generation applications. Additionally, the availability of natural gas and biogas as relatively abundant and cost-effective fuel sources further supports the growth of gas engines. Finally, the trend towards decentralized power generation and the increasing demand for energy efficiency are driving the adoption of gas engines in combined heat and power (CHP) plants and other distributed energy systems, further propelling their market growth.
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In March 2023, the first locally built hydrogen-fueled commercial aircraft engine will be tested and developed by a national collaboration headed by Spanish aircraft engine manufacturer ITP Aero, which made this announcement. The USD 13 million Cryogenics, Fuel Cells, and Hydrogen Combustion in Air Transport project is part of the Aeronautical Technology Plan of the Spanish Ministry of Science agency. CDTI, the Spanish Center for Technological Development and Innovation, oversees it. Next Gen strategic investment funding from the European Union is a contributing factor to this project.
Top Companies Market Share in Gas Engines Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Industries such as power generation, oil and gas, and transportation. The region's robust infrastructure, favorable regulatory environment, and increasing focus on energy efficiency and emissions reduction contribute significantly to the expanding market for gas engines across various sectors .
Asia-Pacific stands out as the fastest-growing region in the Gas Engine market due to rapid industrialization, infrastructure development, and increasing demand for distributed power generation. Countries like China, India, and Southeast Asian nations are key drivers, leveraging gas engines for energy efficiency and environmental benefits in various sectors, including manufacturing and utilities.
The current report Scope analyzes Gas Engines Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Gas Engines Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Gas Engines Industry growth. Gas Engines market has been segmented with the help of its End-User Industry, By Fuel , and others. Gas Engines market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, Power Utilities are the dominant category, integrating them into the energy grid to enhance reliability and flexibility. These engines are crucial for balancing supply and demand, especially with the increasing adoption of intermittent renewable energy sources like wind and solar. Gas engines provide a reliable backup power source, helping to stabilize the grid and ensure continuous energy supply. Additionally, advancements in technology have made gas engines more efficient and environmentally friendly, aligning with global emissions reduction targets and supporting the transition to cleaner energy systems.
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Gas Engines from 2019 to 2031. This will also help to analyze the demand for Gas Engines across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key By Fuel of Gas Engines are:
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Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Gas Engines Market is witnessing significant growth in the near future.
In 2023, the Power Utilities segment accounted for noticeable share of global Gas Engines Market and is projected to experience significant growth in the near future.
The Natural Gas segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Wartsila Oyj Abp , Caterpillar Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
End-User Industry | Power Utilities, Automotive, Marine, Industrial, Others |
By Fuel | Natural Gas, Hydrogen, Other |
List of Competitors | Wartsila Oyj Abp, Rolls-Royce Holdings PLC, Caterpillar Inc., Cummins Inc., General Electric Company |
This chapter will help you gain GLOBAL Market Analysis of Gas Engines. Further deep in this chapter, you will be able to review Global Gas Engines Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation End-User Industry Analysis 2019 -2031, will provide market size split by End-User Industry. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by End-User Industry Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by By Fuel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Gas Engines market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Power Utilities have a significant impact on Gas Engines market? |
What are the key factors affecting the Power Utilities and Automotive of Gas Engines Market? |
What is the CAGR/Growth Rate of Natural Gas during the forecast period? |
By type, which segment accounted for largest share of the global Gas Engines Market? |
Which region is expected to dominate the global Gas Engines Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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