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.     

Global Gas Engine Market Driver:

Increasing Need for Efficient & Effective Energy Sources Driving Market Growth – The high energy density of natural gas and significantly low carbon emissions, when compared to the commonly used diesel engines, have been the main driving force behind integrating gas engines across the globe. The gas engines are actively installed at CHP plants, decentralized energy systems, etc., in line with the engine's ability to give more energy efficiency, low noise pollution, and economical fuel and maintenance costs. Also, the capability of gas engines to switch easily and quickly to other fuels such as biogas, landfill gas, coal gas, etc., from natural gas is considered a crucial advantage in areas where a low amount of power is to be generated such as during peak-shaving, stabilizing the grid, amongst others.

In addition, many end-users primarily manufacturing units attain their sustainability goals without any compromise on the production process and output, by establishing waste to heat and power plants at their facilities. Innio’s Jenbacher gas engines have been providing sustainable solutions to many organizations around the world. From 2011 up to 2023, Innio through its distributor Clarke Energy has provided gas engine solutions for converting waste to heat and power to BioTown Biogas in the US, with total electric output amounting to approximately 7.7MW. The growing level of waste generation and the need for electricity at manufacturing sites help the revenue growth of the Global Gas Engine Market.

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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Global Gas Engine Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2023

-Historical Period: 2019 to 2022

-Forecast Period: 2024 to 2030

•  By Fuel Type
• Natural Gas- Market Size & Forecast 2019-2030, (USD Million)
• Biogas- Market Size & Forecast 2019-2030, (USD Million)
• Other Special Gases- Market Size & Forecast 2019-2030, (USD Million)
• Hybrid- Market Size & Forecast 2019-2030, (USD Million)
• By Power Output
• Upto 1 MW- Market Size & Forecast 2019-2030, (USD Million)
• 1.1-5 MW- Market Size & Forecast 2019-2030, (USD Million)
• 5.1-10 MW- Market Size & Forecast 2019-2030, (USD Million)
• 10.1-20 MW- Market Size & Forecast 2019-2030, (USD Million)
• Above 20 MW- Market Size & Forecast 2019-2030, (USD Million)
•  By Application
• Power Generation- Market Size & Forecast 2019-2030, (USD Million)
• Grid Balancing- Market Size & Forecast 2019-2030, (USD Million)
• Heat Generation- Market Size & Forecast 2019-2030, (USD Million)
• Industrial- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)
•  By End-Use Industry
• Power Utilities- Market Size & Forecast 2019-2030, (USD Million)
• Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
• Combined Heat & Power- Market Size & Forecast 2019-2030, (USD Million)
• Marine- Market Size & Forecast 2019-2030, (USD Million)
• Others- Market Size & Forecast 2019-2030, (USD Million)
•  By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -    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

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