Gas Engines Market share 2021: Business Strategies, Future Growth Study, Industry Key Growth Factor Analysis and Competitive Landscape

Market Summary Market Research Future (MRFR), in its research report, highlights that the global demand 2020 is projected to rise rapidly over the forecast period, ensuring substantial market valuation and a healthy CAGR over the review period. Drivers and Restraints The factors driving the growth of the gas engine industry are the change to coal-fired power generation and the increasing emphasis on carbon pollution reduction. The growth in natural gas production can be attributed to the increased use of natural gas for electricity generation. Gas engines used in gas-fired power plants provide power to drive the generator to produce electricity and supply power to diverse utilities and end-use industries. Gas engines used in power plants can offer additional benefits such as fast start-up, high operating speeds and variable load capacity depending on the demand for electricity. The establishment of gas-fired power plants is expected to increase with these factors. Many countries across the globe, including India and Germany, depend on the construction of gas-fired power plants. It is expected that increased understanding of greenhouse gas emissions and the implementation of environmental policies such as the Kyoto Protocol and the Paris Agreement would intensify the emphasis on lowering global carbon emissions. Many big nations, including India, Canada, Saudi Arabia, Brazil, Japan and China, are seeking to reduce carbon emissions in order to mitigate the environmental effects of deforestation and global warming. Such factors lead to an increase in gas engine installation at power plants as these engines produce lower carbon emissions as compared to coal and diesel engines. The stakeholders in the power generation industry aim to reduce their carbon footprint by increasing the Gas Engines Market share of different energy sources such as solar, wind, biogas, and natural gas in the overall power generation mix. Compared with thermal power plants, gas-powered engines used in power plants emit lower amounts of carbon dioxide. The growing prominence on reducing carbon emissions is therefore projected to drive the growth of the global demand for gas engines over the forecast period. Competitive Dynamics The key market players operating in the global gas engines market as identified by MRFR are Rolls-Royce plc (UK), Cummins Inc. (US), Caterpillar (US), Mitsubishi Heavy Industries, Ltd. (Japan), Volkswagen AG (Germany), Kohler Co. (US), Wärtsilä (Finland), Yanmar Co Ltd. (Japan), China Yuchai International Limited (Singapore), Hyundai Heavy Industries Co., Ltd. (South Korea), Siemens (Germany), Cooper Corp. (India), Doosan Corporation (South Korea), and INNIO (Austria). Segmental Analysis The global demand for gas engines market is segmented by fuel size, power production, horsepower, application, end-use, and area. The world market is segmented by fuel type into natural gas, special gas, and others. The world market is divided by power output into Up to 1 MW, 1-2 MW, 2–5 MW, 5–10 MW, and 10–20 MW. The consumer demand has been segmented into up to 1000 HP, 1000–2000 HP and more than 2000 HP based on horsepower. The global market was segmented, depending on use, into power generation, cogeneration, mechanical motion, and others. Centered on end-use, the global demand for gas engines was segmented into transportation , construction, oil & gas, mining and others Regional Review The global business regional analysis of gas engines market growth was conducted in four main regions including Asia Pacific , North America, Europe and the rest of the world. Due to the growing demand for uninterrupted power supply, increasing focus on reducing carbon emissions, and the development of gas-fired power plants, Europe is expected to hold a majority share of the market during the forecast period. Moreover, Europe's countries have set a target of reducing greenhouse emissions by 20 per cent by 2020 and by 40 per cent by 2040 compared to 1990 levels. Consequently, growing concerns about greenhouse gas emissions and developments in gas-fired power plants are expected to boost demand for gas engines in Europe over the forecast period. Table of contents 1 EXECUTIVE SUMMARY 1.1 MARKET ATTRACTIVENESS ANALYSIS 14 1.1.1 GLOBAL GAS ENGINES MARKET, BY FUEL TYPE 15 1.1.2 GLOBAL GAS ENGINES MARKET, BY POWER OUTPUT 16 1.1.3 GLOBAL GAS ENGINES MARKET, BY HORSEPOWER 17 1.1.4 GLOBAL GAS ENGINES MARKET, BY APPLICATION 18 1.1.5 GLOBAL GAS ENGINES MARKET, BY END USE 19 1.1.6 GLOBAL GAS ENGINES MARKET, BY REGION 20 2 MARKET INTRODUCTION 2.1 DEFINITIONS 21 2.2 SCOPE OF THE STUDY 21 2.3 RESEARCH OBJECTIVE 21 2.4 MARKET STRUCTURE 21 2.5 KEY BUYING CRITERIA 22 Browse Complete Report @ https://www.marketresearchfuture.com/reports/gas-engines-market-3345 About Market Research Future: Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. 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