The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s gas engines market report forecasts the gas engines market size to grow to $6.06 billion by 2027, with a CAGR (compound annual growth rate) of almost 5%.

Learn More On The Gas Engines Market Report 2023 –

https://www.thebusinessresearchcompany.com/report/gas-engines-global-market-report

Gas Engines Market Size Forecast

The global gas engines market size is expected to grow from $4.74 billion in 2022 to $5.00 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global gas engines market size is expected to reach $6.06 billion in 2027 at a CAGR of 4.9%.

North America held the largest gas engines market share in 2022.

Key Gas Engines Market Driver ­– Rising Usage Of Natural Gas For Power Generation

For instance, in September 2022, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization that provides policy recommendations, analysis, and data on the entire global energy sector, the amount of natural gas-fired electricity generated increased by about 3% in 2021 compared to the previous year. Therefore, the rising usage of natural gas for power generation drives the gas engine market.

Request for A Sample Of The Global Gas Engines Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=9226&type=smp

Key Gas Engines Market Trend – Technological Advancement

Technological advancement is the key trend gaining popularity in the gas engine market. Major players operating in the gas engine market are focusing on using new technologies to increase the performance of gas engines to meet modern energy and power needs.

Gas Engines Market Segment

1) By Fuel Type: Natural Gas, Special Gas, Other Fuel Type

2) By Power Output: 1-2 MW, 2-5 MW, 5-15 MW, Above 15 MW

3) By Application: Power Generation, Mechanical Drive, Cogenerations, Other Applications

4) By End User: Utilities, Marine, Oil And Gas, Manufacturing, Other End Users

Gas Engines Market Major Players and Strategies

Major players in the gas engines market are Caterpillar Inc., Cummins Inc., Siemens AG, Wartsila Oyj Abp, Mitsubishi Heavy Industries Ltd., Hyundai Heavy Industries Co. Ltd., Man SE, General Electric Company, Kawasaki Heavy Industries Ltd., JFE Engineering Corporation, Liebherr Group, Kohler Co., Yanmar Co Ltd., Perkins Engines Company Limited, and Doosan Group.

In February 2021, TMH International, a Switzerland-based railroad equipment manufacturing company acquired Rolls-Royce the Bergen Engines medium-speed gas and diesel engines business for a deal amount of $163 million. The acquisition would add the gas engines segment to TMH’s portfolio and contribute to the company’s aim of achieving carbon-neutral applications of combustion engines. Rolls-Royce is a US-based company operating in gas engines.

The Gas Engines Global Market Report 2023 covers regional data on gas engines market size, gas engines market trends and drivers, opportunities, strategies, and gas engines market competitor analysis. The countries covered in the gas engines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A gas engine refers to an internal combustion engine that burns gaseous fuels such as natural gas, and blast furnace gas for producing gas.

View More Reports Related To The Gas Engines Market –

Engine, Turbine, And Power Transmission Equipment Global Market Report 2023

Rocket Engines Global Market Report 2023

Aircraft Engines Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: