Asia Pacific Gas Engine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Fuel Type (Natural Gas, and Special Gas), Power Output (100 - 300 kW, 300-500kW, 05- 1 MW, 1-2 MW, 2-5 MW, 5-10 MW, and 10-20 MW), End-User (Remote, Mid-Stream Oil

Asia Pacific Gas Engine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Fuel Type (Natural Gas, and Special Gas), Power Output (100 - 300 kW, 300-500kW, 05- 1 MW, 1-2 MW, 2-5 MW, 5-10 MW, and 10-20 MW), End-User (Remote, Mid-Stream Oil and Gas, Heavy Industries, Light Manufacturing, Utilities, Biogas, Datacenters, MUSH, and Commercial)

The Asia Pacific gas engine market is expected to reach US$ 1,986.4 million by 2028 from US$ 1,162.3 million in 2021; it is estimated to grow at a CAGR of 8.0% during 2021-2028. Large and medium-sized enterprises are shifting toward distributed power generation practices to control costs by producing their own power. Companies are already adopting gas engines for power backup or additional power needs, while the advent of distributed gas generation is emerging as a key trend in the gas engine market. Mobile power generation solutions, independent power grids, and remote electricity generation are among the key benefits enabled by this trend. The distributed gas generation also allows setting up on-site combined heat and power (CHP) plants, which is driving the sales of gas engines. The gas engine market players are developing advanced solutions for industrial power generation applications.

Based on fuel type, the natural gas segment is expected to register the largest market share during the forecast period. Moreover, the same segment is estimated to register the highest CAGR during the forecast period. In 2021, fossil fuel combustion is the largest contributor to the Asia Pacific air pollution, which is creating negative effects on the natural environment. To reduce the consumption of fossil fuels and pollution, rapid R&D activities are being conducted, owing to which the importance of natural gases has increased. Natural gases are emerging as a promising solution to reduce diesel and petrol consumption. Stringent emission standards, Asia Pacific warming, and increasing CO2 legislation are the prominent factors increasing the adoption of natural gas engines. The rich mixture of hydrocarbons in natural gases and easy availability in almost every nation due to strong penetration is augmenting the segment growth. The benefits of the natural gas are low emission, clean burning, and lower cost than fossil fuels.

Governments of APAC countries took several possible steps to reduce the effects of the COVID-19 pandemic. The lockdown enacted by these countries hampered the gas engines market pe4rfromance in 2020. Asia hosts many manufacturing plants, which were adversely affected during the lockdown periods, which disrupted the production and supply of components overseas. Factory activities contracted sharply across most of the region in April as the global crisis paralyzed economic activities globally, with a sharp fall in export from countries such as Japan and South Korea. While factories in China slowly resumed operations after extended shutdowns and the country scaled up natural gas production to normal levels due to reduced infection rates in late 2020, activity in South Korea contracted at the historically fastest pace in 11 years as several of its trading partners imposed dramatic actions to control the spread of SARS-CoV-2. Also, the ill effects of the pandemic on the power generation sector in Asia Pacific hindered the gas engines market growth in the region in 2020.

The overall Asia Pacific gas engine market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific gas engine market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific gas engine market. Companies adopt a few strategies, such as mergers and acquisitions and market initiatives, which promotes market growth. Caterpillar Inc.; Cummins Inc.; R Schmitt Enertec GmbH; Kawasaki Heavy Industries, Ltd.; Liebherr; MAN SE; Mitsubishi Heavy Industries, Ltd.; Wärtsilä Corporation; MTU (Rolls-Royce Power Systems AG); and 2G ENERGY AG are among the major players operating in the market.

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