Gas Engine Market by Fuel (Natural Gas, Special Gas), Power Output (10 KW to 100 KW, Above 100 KW, Upto 10 KW), Application, End User - Global Forecast 2024-2030

Gas Engine Market by Fuel (Natural Gas, Special Gas), Power Output (10 KW to 100 KW, Above 100 KW, Upto 10 KW), Application, End User - Global Forecast 2024-2030

The Gas Engine Market size was estimated at USD 4.75 billion in 2023 and expected to reach USD 4.99 billion in 2024, at a CAGR 5.41% to reach USD 6.87 billion by 2030.

A gas engine refers to an internal combustion engine that operates on gas fuel, such as natural gas, biogas, and a variety of other gas fuels, instead of liquid fuels, such as gasoline & diesel. The basic principle of operation involves the ignition of the gas fuel mixture inside the engine's cylinders, causing an expansion of gas that subsequently moves the pistons. This movement is converted into mechanical energy that is used to perform work, such as driving the wheels of a vehicle or powering industrial machinery. The global stimulus towards reducing carbon emissions and improving air quality has made gas engines, particularly those running on natural gas and biogas, an attractive option due to their relatively lower CO2, NOx, and particulate emissions than diesel engines. However, the initial cost of gas engine installations, particularly for high-efficiency models, can be prohibitive for some end-users. Furthermore, continued improvements in engine efficiency and fuel flexibility stand out as significant opportunities for the manufacturers.

Regional Insights



In the American region, the United States and Canada are significant ecnomies in the gas engine market, primarily driven by an abundance of natural gas reserves and a strong focus on energy independence and environmental sustainability. In the Americas, there is a high demand for energy-efficient, durable, and low-emission gas engines, especially in the power generation, industrial, and transportation sectors. The focus is on reducing operational costs and complying with stringent environmental regulations. EU countries are leading in environmental regulatory standards, the Middle East is capitalizing on its vast natural gas reserves, and Africa is gradually transitioning to cleaner energy sources. The predominant consumer need in the EMEA region is for energy solutions that balance efficiency, reliability, and environmental sustainability. The EU's stringent emissions regulations push for the adoption of advanced gas engines, while countries in the Middle East and Africa, faced with energy security and access challenges, look for dependable and cleaner energy alternatives. The Asia Pacific region, encompassing dynamic economies such as China, Japan, and India, represents a burgeoning market for gas engines due to escalating energy demands and an increasing shift towards cleaner energy sources. This region is characterized by rapid industrial growth, urbanization, and a persistent emphasis on reducing carbon emissions, which significantly propels the demand for efficient and environmentally friendly gas engines.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Gas Engine Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Global push towards reducing carbon emissions and improving air quality
Rising need for clean and efficient power generation technology
Rising demand for outdoor power equipment by professional landscapers and groundskeepers

Market Restraints


Capital intensive process of gas engine installations and natural gas supply infrastructure

Market Opportunities


Technological advancements in gas engine for engine efficiency and fuel flexibility
Government rules toward strict emission regulations

Market Challenges


Technical limitations associated with the gas engines

Market Segmentation Analysis


Fuel: Growing utilization of special gas as it offers environmental and efficiency benefits
End User: Expansion of automotive industry accelerating the deployment of gas engines

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Gas Engine Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Gas Engine Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Cummins to Propel Decarbonization with Launch of Advanced X15N Natural Gas Engine in 2024

Cummins Inc. is set to revolutionize the trucking industry with the introduction of its X15N natural gas engine, an innovative solution aimed at reducing carbon emissions. The X15N is designed to fulfill the stringent CARB 2024 emissions regulations, offering fleets an opportunity to commence their decarbonization journey immediately. Developed with an output of 500 HP and 1,850 lb.-ft of torque, the X15N promises up to a 10% improvement in fuel efficiency over its predecessor, the ISX12N.


Launch and Impact of MHIET's SGP M2000 Natural Gas Engine System

Mitsubishi Heavy Industries Engine & Turbocharger, Ltd., is set to redefine the cogeneration landscape with the introduction of the SGP M2000, a state-of-the-art natural gas engine cogeneration system slated for release in the Japanese market. This cutting-edge system is powered by the G16NB, a 16-cylinder natural gas engine that achieves an unparalleled electrical efficiency of 44.3% for its 2,000kW class, marking it as the most efficient of its kind globally.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Gas Engine Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Gas Engine Market, highlighting leading vendors and their innovative profiles. These include Briggs & Stratton, LLC, Caterpillar Inc., Champion Power Equipment, Inc., Cummins Inc., Deutz Australia Pty Ltd., Doosan Corporation, Generac Power Systems, Inc., General Electric Company, Governors America Corp., Honda Motor Co., Ltd., Hyundai Heavy Industries Co., Ltd., IHI Corporation, INNIO Jenbacher GmbH & Co OG, JFE Holdings,Inc., Kawasaki Heavy Industries, Ltd., Kohler Co., Liebherr Group, MAN Truck & Bus SE, Mitsubishi Heavy Industries, Ltd., QVT Power, R Schmitt Enertec GmbH, Siemens AG, Subaru Corporation, Volkswagen AG, Weichai Power Co.,Ltd., Wärtsilä Corporation, and Yanmar Holdings Co., Ltd..

Market Segmentation & Coverage



This research report categorizes the Gas Engine Market to forecast the revenues and analyze trends in each of the following sub-markets:

Fuel
Natural Gas
Special Gas
Power Output
10 KW to 100 KW
Above 100 KW
Upto 10 KW
Application
Co-Generation
Power Generation
End User
Automotive
Manufacturing
Oil & Gas
Utilities
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year