Methane (CH4) is the main component in natural gas which is recognized as green and clean energy. Over the past decades, environmental pollution and energy consumption have become major concern along with increasing economical and technological development in the society. Natural gas is an efficient, clean and cost effective fuel as compared to other fossil fuels. Gas engines compared with diesel engine, have advantages in reducing emission of pollutants and reducing costs. Incessant in the gas engine market share demands new technologies and development in the gas engine. The application of gas engines is becoming wider with the increasing maturation and development of nature gas technologies. Based on the type of fuel used gas engines are categorized into natural gas engines and specialty gas engines. In terms of application gas engines market is segmented into commercial and industrial facilities, utilities, agricultural, greenhouse, mining and others (Landfills, Water treatment plants, specialty applications, etc.).
At present Europe is the largest and fastest growing market for gas engines. The increasing environmental awareness, availability of low cost natural gas and stringent government emission regulations are driving factors for demand of gas engines in the region. The European market is mainly driven by countries such as Russia, the United Kingdom, Germany and Italy, where there is a huge demand for gas engines. In Organization for Economic Co-operation and Development (OECD) countries, gas demand in the power sector remains challenged by slow-moving electricity growth and robust deployment of renewable electricity generation. In the world of very cost effective coal and falling renewable resources costs, it was difficult for gas to compete. In 2013 and 2014 gas demand has increased well below its ten-year average. Gas consumption growth is adversely affected by high import duties in 2013 and 2014, especially in the power sector. China’s gas demand growth was 14% average during 2009 to 2014 however it has came down to single digit in 2014.
The global gas engines market is segmented on the following bases:
Key Players Identified for XYZ Market Include but are Not Limited to:
General Electric Company, Caterpillar Inc., Wartsila Corporation, Rolls-Royce Holdings PLC, Cummins Inc., Siemens AG, Man SE, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., etc.
This report offers:
An overview of the global markets for Global Gas Engines Market
Market trends assessment for the period 2013-2023, with historical information for 2014 & 2015, and projections through 2023, with respective CAGRS during 2016-2023
Qualitative assessment tools such as market drivers, challenges, opportunities and future prospects
Market competition scrutiny tools such as market share analysis, fractal map assessment, Porter’s Five Forces model
Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
A general overview of the industry structure
Company profiles highlighting key information about the major players operating in the global gas engines market