Europe 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 Ga

Europe 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 Europe gas engine market is expected to reach US$ 2,040.4 million by 2028 from US$ 1,492.5 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021-2028. Governments of various countries are imposing certain regulations to control the emissions of diesel and petrol engines, thus compelling engine manufacturers to opt for alternative fuel solutions, such as natural gasses. Gas engines operate with lower emission levels to generate a sufficient amount of power with high efficiency. The emission monitoring and regulatory bodies from various countries are imposing stringent regulations on the use of diesel engines and generators. To meet these regulatory standards, various industries are deploying gas engines and generators for power generation. In December 2020, Rolls-Royce launched MTU Series 500, a new series of gas engines, with a power range of 250-550 kilowatt. The engines are specially designed to meet the emission goals by using hydrogen as a power source, which lowers the costs and consumption of fuel in the industrial and utility sectors. Similarly, in June 2020, Kawasaki Heavy Industries, Ltd., a heavy equipment manufacturer, launched a new model KG-18-T gas engine. The company introduced a two-stage turbocharging system with 51% electrical efficiency for power generation. Thus, the rise in such development activities owing to stringent regulations related to gas engines is propelling the European gas engine market growth.

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 Europe 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 carried out, 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, Europe 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.

In Europe, Italy is the hardest-hit country by the coronavirus outbreak. Other EU members implemented drastic measures and travel restrictions, including partially closing their borders. Moreover, Germany, the UK, France, and Belgium, among other European countries, witnessed the second wave of the COVID-19 pandemic, which led to subsequent lockdowns in November 2020. The situation amid the COVID-19 pandemic was extraordinary, and it hindered the growth of the gas engines market.

The overall Europe 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 Europe 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 Europe gas engine market. Companies adopt a few strategies, such as mergers and acquisitions and market initiatives, which promotes market growth. INNIO Jenbacher GmbH & Co OG; 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.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe gas engine market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Europe gas engine market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.