South Korea Gas Engine Market Overview, 2029

South Korea Gas Engine Market Overview, 2029

The South Korea gas engine market is an essential component of the country’s broader energy sector, characterized by its role in supporting South Korea’s ongoing transition to cleaner, more sustainable energy sources. South Korea has historically been reliant on imported fossil fuels, making energy security a national priority. This reliance on imports has made the South Korean government increasingly focused on diversifying its energy mix, particularly in favor of more sustainable and environmentally friendly sources. As part of its national energy policy, the South Korean government has implemented regulations aimed at reducing greenhouse gas emissions and enhancing energy efficiency. Key policies, such as the Renewable Energy 3020 plan, seek to increase the proportion of renewables in the country’s energy mix to 20% by 2030. This policy framework has created an ideal environment for the adoption of gas engines, especially those capable of using renewable fuels like biogas. Additionally, the government’s commitment to reduce South Korea’s carbon footprint has led to support for technologies that facilitate decentralized power generation. Gas engines are well-suited to this need due to their ability to generate power and heat on-site, making them an appealing choice for industries like manufacturing and utilities where reliability and efficiency are crucial. South Korea’s dense industrial infrastructure and robust economic activity have further driven demand for reliable energy solutions, with gas engines becoming increasingly popular for their efficiency, fuel flexibility, and ability to meet stringent environmental standards. Thus, the market for gas engines in South Korea is closely tied to national goals around sustainability, energy security, and emissions reduction.

According to the research report, ‘’South Korea gas engine market overview, published by Bonafide Research, the South Korea gas engine market is anticipated to grow at more than 6.04% CAGR from 2024 to 2029, propelled by a combination of governmental policies, technological advancements, and increasing demand for efficient, decentralized power solutions. Key drivers in the market include South Korea’s commitment to reducing greenhouse gas emissions, advancements in gas engine technology, and the growth of industries requiring stable, on-demand power. One major trend is the increasing adoption of gas engines capable of utilizing renewable fuels, such as biogas, to produce power in a cleaner, more sustainable manner. The trend toward digitalization and smart energy solutions has also influenced the market, with an emphasis on engines that can integrate with modern energy management systems for optimized performance and reduced wastage. Additionally, the rise of co-generation applications, where electricity and heat are generated simultaneously, aligns with South Korea’s focus on energy efficiency, especially in industrial sectors. The market is highly competitive, with global companies like GE, Siemens, and Cummins having a strong presence due to their technological capabilities and established brands. Domestic companies and local distributors also play a role, often focusing on providing cost-effective solutions tailored to the specific needs of the South Korean market. As the market matures, opportunities for growth are expected in niche segments like co-generation, mechanical drive applications, and renewable fuel-based engines. Furthermore, South Korea’s strategic emphasis on smart technology integration positions the market for future expansion, particularly as the country invests in infrastructure to support a digital and low-carbon economy.

The South Korea gas engine market is segmented by fuel type into natural gas, special gas, and others. Natural gas engines dominate the market due to South Korea’s well-established natural gas infrastructure, which supports the availability of this cleaner fuel type for a variety of applications. Natural gas engines are popular for their relatively low emissions and cost-effectiveness, making them suitable for both industrial and commercial uses. Special gas engines, which can run on alternative fuels like biogas or landfill gas, are increasingly relevant in South Korea as the country pushes for renewable energy sources. Biogas engines, for instance, are used in waste-to-energy projects, where methane from organic waste can be captured and used as a fuel, thus helping to reduce greenhouse gas emissions. The “Others” category includes engines powered by less common fuel types, which are generally tailored to specific industrial needs or settings.

The South Korea gas engine market is also segmented by application, including power generation, co-generation, mechanical drive, and other uses. Power generation is the largest application, particularly in industries and commercial settings where reliable, on-site power is required. This application is essential in manufacturing and other high-demand sectors, where a stable power source directly impacts productivity. Co-generation, which allows simultaneous generation of electricity and heat, is gaining popularity as companies seek to maximize energy efficiency and reduce operational costs. This application is especially prevalent in manufacturing facilities where both power and heat are in high demand, making co-generation a cost-effective solution that aligns with South Korea’s sustainability goals. Mechanical drive applications, which use gas engines to power industrial machinery, are also significant, particularly in sectors like oil and gas and heavy industry where energy-intensive processes require reliable and robust power sources. The manufacturing sector values gas engines for their efficiency, particularly in energy-intensive industries such as chemicals and electronics, which have a strong presence in South Korea. The oil and gas sector, though smaller in demand for gas engines, also relies on them for mechanical drive applications and decentralized power generation in remote locations. Additionally, the marine sector is emerging as a user of gas engines, driven by new regulations that limit emissions from ships. The South Korean gas engine sector is expanding, propelled by significant applications such as electricity generation, cogeneration, and mechanical drives.


Considered in this report
• Geography: Global
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Global Gas Engine Market with its value and forecast along with its segments
• Region & country wise Gas Engine market analysis
• Application wise Gas Engine distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Fuel Type
• Natural Gas
• Special Gas
• Others

By Power Output
• 0.5-1 MW
• 1.1-2 MW
• 2.1-5 MW
• 5.1-15 MW
• Above 15 MW

By Application
• Power Generation
• Co-generation
• Mechanical Drive
• Others

By End-use industry
• Utilities
• Manufacturing
• Oil & Gas
• Marine
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.


Considered in this report
• Geography: Global
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Global Gas Engine Market with its value and forecast along with its segments
• Region & country wise Gas Engine market analysis
• Application wise Gas Engine distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Fuel Type
• Natural Gas
• Special Gas
• Others

By Power Output
• 0.5-1 MW
• 1.1-2 MW
• 2.1-5 MW
• 5.1-15 MW
• Above 15 MW

By Application
• Power Generation
• Co-generation
• Mechanical Drive
• Others

By End-use industry
• Utilities
• Manufacturing
• Oil & Gas
• Marine
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.