Gas engine market is anticipated to grow at a significant CAGR of 14.6% during the forecast period (2024-2031).The growth of the gas engine market is attributed to increasing demand for gas engines in applications such as industrial machinery, power generation, and automobiles driving the growth of the market.Gas engines can supply local facilities with heat and power, increasing resilience and energy efficiency in distributed energy systems, such as CHP applications. Continuous developments in gas engine technology, such as enhanced dependability, efficiency, and pollution control, have raised the attraction and competitiveness of these engines across a range of industries.
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The improved efficiency of gas engines includes advancements in combustion technologies, design optimizations, and the integration of digital solutions for better monitoring and control by using higher compression ratios, optimizing fuel injection timing and fuel-air ratio, and using advanced ignition systems.Modern gasoline engines have a maximum thermal efficiency of more than 50.0%, but most road-legal cars use only about 20.0% to 40.0% when used to power a car. Many engines would be capable of running at higher thermal efficiency but at the cost of higher wear and emissions.Many types of gaseous fuels can power gas engines. Customers and the global community benefit from gas engines differently depending on their application. Gas engines can provide or support the following, depending on the configuration, gas, and application as well as the current energy mix for the local electrical grid.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Gas Engine Market by Fuel Type
- Natural Gas
- Special Gas
Global Gas Engine Market by Power Output
- 5-15 MW
- Above 15 MW
Global Gas Engine Market by Application
- Power Generation
- Co-generation
- Mechanical Drive
Global Gas Engine Market by End-Users
- Utilities
- Manufacturing
- Oil & Gas
- Marine
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Briggs & Stratton Corp.
- Cummins Inc.
- Detroit Diesel Corp.
- DEUTZ AG
- Fairbanks Morse, LLC
- Hatz GmbH & Co. KG
- Honda Motor Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
- Kohler Co.
- Kubota Corp.
- MAN Energy Solutions SE
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- MTU Aero Engines AG
- Perkins Engines Company Ltd.
- Rolls-Royce plc
- Siemens AG
- Volvo Group
- Wärtsilä Corp.
- Yanmar Co., Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global gas engine market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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