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Feb 03, 2021 (The Expresswire) —
The global gas engine market is set to gain traction from the increasing construction of new transmission lines and power plants. Governments of various countries are shifting towards cost-effective methods to cater to the high demand for electricity. This information is published byFortune Business Insights™in a new report, titled, “Gas Engine Market, Share and COVID-19 Impact Analysis, By Product Type (Natural Gas, Special Gas, and Others), By Power Output (0.51 MW, 12 MW, 25 MW, 510 MW, and 1020 MW), By Application (Power Generation, Mechanical Drive, Cogeneration, and Others), and Regional Forecast, 2020-2027.” The report further states that the market size stood at over USD 4.34 billionin 2019 and is projected to surpassUSD 6.05 billionby 2027, exhibiting a CAGR of 5.6% during the forecast period.
To get sample copy to know more about the short-term and long-term impact of COVID-19 on this market,
COVID-19 Pandemic to Cause Supply Chain Disruptions and Decline Demand
The COVID-19 pandemic has taken a huge toll on various industries, such as hospitality, aviation, oil and gas, and manufacturing. The energy and power industry is not an exception. The global renewable sector is mainly reliant on imports from other countries, especially from China. Because of the complete lockdown in this country, the entire supply chain was disrupted. Our authentic research reports would help you in gaining insights into the current scenario of this Gas Engine Market.
This Report Answers the Following Questions:
- How will the renowned organizations surge sales of gas engines?
- Which segment is likely to lead the market in the forthcoming period?
- Which prominent firms are set to dominate the market in the coming years?
- What are the challenges and opportunities in the global Gas Engine Market at present?
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Gas Engines Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the Gas Engines Market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Gas Engines Market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Gas Engines Market
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A list of all the reputed companies operating in this global Gas Engine Market:
- Caterpillar Inc. (United States)
- Cummins Inc (United States)
- Wärtsilä (Finland)
- Rolls-Royce plc (United Kingdom)
- INNIO Group (Austria)
- MAN SE (Germany)
- Siemens Energy (Germany)
- MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
- Kawasaki Heavy Industries, Ltd. (Japan)
- NINGBO C.S.I. POWER and MACHINERY GROUP CO., LTD. (China)
- IHI Power Systems Co., Ltd. (Japan)
- JFE Engineering Corporation (Japan)
- Hyundai Heavy Industries Co., Ltd. (South Korea)
- Liebherr (Switzerland)
- R Schmitt Enertec GmbH (Germany)
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Drivers and Restraints-
Increasing Demand for Power from Emerging Nations to Spur Growth
In developing countries, such as Mexico, Brazil, India, and China, power consumption has surged rapidly since the past few years. The main reasons behind this are high population, development of the manufacturing sector, and flourishing economies. Also, improvements in the standards of living of the masses are set to propel the demand for power. Owing to these factors, numerous countries are either installing new plants or are broadening the capacities of the existing ones.
Moreover, the increasing deployment of governmental norms for lowering the emissions of carbon is likely to compel firms to use renewable energy sources for the generation of electricity. These would further drive the gas engine market growth in the near future. However, the varying prices of natural gas and irregularities in natural gas reserves across the globe may hinder the demand for Gas Engine Market.
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Table Of Content Gas Engine Market
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2 Executive Summary
3 Gas Engine Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4 Key Insights
4.1. Key Emerging Trends For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
5 Qualitative Analysis Impact of COVID-19
5.1. Impact of COVID-19 on the Gas Engine Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6 Global Gas Engine Market Analysis (USD Billion), Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast By Product Type
6.2.1. Natural Gas
6.2.2. Special Gas
6.3. Market Analysis, Insights and Forecast By Power Output
6.3.1. 0.51 MW
6.3.2. 12 MW
6.3.3. 2-5 MW
6.3.4. 5-10 MW
6.3.5. 10-20 MW
6.4. Market Analysis, Insights and Forecast By Application
6.4.1. Power Generation
6.4.2. Mechanical Drive
6.5. Gas Engine MarketAnalysis, Insights and Forecast By Region
6.5.1. North America
6.5.3. Asia Pacific
6.5.4. Latin America
6.5.5. Middle East and Africa
Key Players Focus on New Product Launches to Cater to Increasing Consumer Demand
The Gas Engine Market contains multiple small and large companies that are striving to gain a competitive edge by offering unique products. They are effectively fulfilling the demand coming from various countries worldwide. Below are the two latest industry developments:
- October 2019: Caterpillar launched G3516C, its latest gaseous-fueled continuous duty package generator sets. It is equipped with a gas engine control module. It also has a high power density platform with a specially developed high-volume, two-stage air intake system.
- September 2019: Wärtsilä unveiled its new engine and power plant solution in the power generation market. The new engine is called Wärtsilä 31DF and it delivers unparalleled dynamic operational features, fuel choice flexibility, and unequalled open-cycle efficiency.
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Name: Ashwin Arora
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Global Gas Engines Market Assessment 2020-2027 – Impact of COVID-19, Case Study Analysis, Key Opportunities and Major Players
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