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Gas Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 144 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820837
Description Jump to:
The global gas engine market size reached US$ 5.3 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

Gas engines refer to internal combustion engines that operate on various gaseous fuels, such as natural gas, coal gas, producer gas, and biogas. They consist of a fixed cylinder and a moving piston and are widely used as heavy-duty industrial engines capable of running at full load continuously. They can power automobiles, light trucks, medium-to-large motorcycles, and lawn mowers. Gas engines are more efficient, cost-effective, and reliable than their traditional counterparts that utilized an ignition source, such as a spark or small amount of pilot fuel. They also offer high electrical and thermal efficiency, low maintenance and operation costs, and environmental benefits. As a result, gas engines are rapidly gaining traction across numerous industries, including power generation, manufacturing, oil and gas, utilities, and transportation.

Gas Engine Market Trends:

The rising need for clean and efficient power generation technology represents the primary factor driving the market growth. Besides this, the escalating demand for electricity due to rapid industrialization and urbanization, growing population, and infrastructure development has accelerated the adoption of gas engines in electric utilities to handle peak load demand effectively. Additionally, governments of various countries are taking favorable initiatives, such as the implementation of stringent regulations, for minimizing greenhouse gas (GHG) emissions and air pollution. Along with this, the rising environmental concerns and the shifting preferences toward renewable energy sources among the masses are propelling the market growth. Furthermore, the leading manufacturers are making heavy investments in research and development (R&D) activities to launch innovative gas engines to meet the need for higher power outputs and diesel engine standards. Other factors, including the emerging applications in the aerospace industry, easy availability of natural gas, and growing focus toward gas engine-based power plants and distributed power generation, are also anticipated to create a positive market outlook in the upcoming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global gas engine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on fuel type, power output, application and industry vertical.

Breakup by Fuel Type:

  • Natural Gas
  • Special Gas
  • Others

Breakup by Power Output:

  • 0.5-1 MW
  • 1-2 MW
  • 2-5 MW
  • 5-10 MW
  • 10-20 MW

Breakup by Application:

  • Mechanical Drive
  • Power Generation
  • Cogeneration
  • Others

Breakup by Industry Vertical:

  • Utilities
  • Manufacturing
  • Oil and Gas
  • Mining
  • Others

Breakup by Region:

North America

  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Caterpillar Inc., China Yuchai International Limited, Cummins Inc., Doosan Corporation, General Electric Company, Hyundai Heavy Industries Co. Ltd., JFE Holdings Inc., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce plc, Siemens AG, Volkswagen AG and Wärtsilä Oyj Abp.

Key Questions Answered in This Report:

  • How has the global gas engine market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global gas engine market?
  • What are the key regional markets?
  • What is the breakup of the market based on the fuel type?
  • What is the breakup of the market based on the power output?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the industry vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global gas engine market and who are the key players?
  • What is the degree of competition in the industry?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Gas Engine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Fuel Type
6.1 Natural Gas
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Special Gas
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Power Output
7.1 0.5-1 MW
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 1-2 MW
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 2-5 MW
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 5-10 MW
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 10-20 MW
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Application
8.1 Mechanical Drive
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Power Generation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Cogeneration
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Industry Vertical
9.1 Utilities
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Manufacturing
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Oil and Gas
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Mining
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Caterpillar Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 China Yuchai International Limited
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.3 Cummins Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 Doosan Corporation
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 General Electric Company
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Hyundai Heavy Industries Co. Ltd.
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 JFE Holdings Inc.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Kawasaki Heavy Industries Ltd.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Mitsubishi Heavy Industries Ltd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Rolls-Royce plc
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 Siemens AG
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 Volkswagen AG
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
15.3.13 Wärtsilä Oyj Abp
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.13.3 Financials
15.3.13.4 SWOT Analysis
List of Figures
Figure 1: Global: Gas Engine Market: Major Drivers and Challenges
Figure 2: Global: Gas Engine Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Gas Engine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Gas Engine Market: Breakup by Fuel Type (in %), 2022
Figure 5: Global: Gas Engine Market: Breakup by Power Output (in %), 2022
Figure 6: Global: Gas Engine Market: Breakup by Application (in %), 2022
Figure 7: Global: Gas Engine Market: Breakup by Industry Vertical (in %), 2022
Figure 8: Global: Gas Engine Market: Breakup by Region (in %), 2022
Figure 9: Global: Gas Engine (Natural Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Gas Engine (Natural Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Gas Engine (Special Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Gas Engine (Special Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Gas Engine (Other Fuel Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Gas Engine (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Gas Engine (0.5-1 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Gas Engine (0.5-1 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Gas Engine (1-2 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Gas Engine (1-2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Gas Engine (2-5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Gas Engine (2-5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Gas Engine (5-10 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Gas Engine (5-10 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Gas Engine (10-20 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Gas Engine (10-20 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Gas Engine (Mechanical Drive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Gas Engine (Mechanical Drive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Gas Engine (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Gas Engine (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Gas Engine (Cogeneration) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Gas Engine (Cogeneration) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Gas Engine (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Gas Engine (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Gas Engine (Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Gas Engine (Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Gas Engine (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Gas Engine (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Gas Engine (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Gas Engine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Gas Engine (Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Gas Engine (Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Global: Gas Engine (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Global: Gas Engine (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: North America: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: North America: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: United States: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: United States: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Canada: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Canada: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Asia-Pacific: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Asia-Pacific: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: China: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: China: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Japan: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Japan: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: India: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: India: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: South Korea: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: South Korea: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Australia: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Australia: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Indonesia: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Indonesia: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Others: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Others: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Europe: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Europe: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Germany: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Germany: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: France: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: France: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: United Kingdom: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: United Kingdom: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Italy: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Italy: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Spain: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Spain: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Russia: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Russia: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Others: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Others: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Latin America: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Latin America: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Brazil: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Brazil: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Mexico: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Mexico: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Others: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Others: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Middle East and Africa: Gas Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 90: Middle East and Africa: Gas Engine Market: Breakup by Country (in %), 2022
Figure 91: Middle East and Africa: Gas Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 92: Global: Gas Engine Industry: SWOT Analysis
Figure 93: Global: Gas Engine Industry: Value Chain Analysis
Figure 94: Global: Gas Engine Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Gas Engine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Gas Engine Market Forecast: Breakup by Fuel Type (in Million US$), 2023-2028
Table 3: Global: Gas Engine Market Forecast: Breakup by Power Output (in Million US$), 2023-2028
Table 4: Global: Gas Engine Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Gas Engine Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
Table 6: Global: Gas Engine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Gas Engine Market: Competitive Structure
Table 8: Global: Gas Engine Market: Key Players

Companies Mentioned

  • Caterpillar Inc.
  • China Yuchai International Limited
  • Cummins Inc.
  • Doosan Corporation
  • General Electric Company
  • Hyundai Heavy Industries Co. Ltd.
  • JFE Holdings Inc.
  • Kawasaki Heavy Industries Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce plc
  • Siemens AG
  • Volkswagen AG and Wärtsilä Oyj Abp

Methodology

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Table Information

Report AttributeDetails
No. of Pages144
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 5.3 Billion
Forecasted Market Value ( USD ) by 2028 $ 7 Billion
Compound Annual Growth Rate4.7%
Regions CoveredGlobal
No. of Companies Mentioned12

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About the Gas Engine Market

The Gas Engine market is a subset of the larger Gas industry. It is composed of companies that produce and distribute engines that run on gas. These engines are used in a variety of applications, including automobiles, boats, and industrial machinery. Gas engines are typically more efficient than diesel engines, and they produce fewer emissions. They are also more cost-effective than electric engines. The Gas Engine market is highly competitive, with many companies offering a wide range of products. Some of the major players in the market include Cummins, Caterpillar, John Deere, and Briggs & Stratton. These companies produce a variety of engines, from small engines for lawnmowers to large engines for industrial applications. Other companies in the market include Kohler, Yanmar, and Kubota. Show Less Read more

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