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Gas Engine Market and its key opportunities and challenges

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Gas Engine Market and its key opportunities and challenges

October 14
20:06 2019
Gas Engine Market and its key opportunities and challenges
The global gas engine market is estimated to be USD 3.54 Billion in 2017 and is expected to grow at a CAGR of 6.12% from 2017 to 2022 to reach the market size of USD 4.76 Billion by 2022.

The global Gas Engine Market is estimated to be USD 3.54 billion in 2017 and is expected to grow at a CAGR of 6.12% from 2017 to 2022 to reach the market size of USD 4.76 billion by 2022 as per MarketsandMarkets. 

Why growing trend of distributed power generation continues to offer more opportunities?

Distributed generation is the act of power generation carried out at or close to the point of end-use. It can be used for both electric supply as well as mechanical work (providing torque to move objects). Distributed generation systems are generally defined as being less than 100 MW in capacity (typically less than 50 MW) and can be stationary as well as mobile in nature. General Electric Company (US) estimates that annual distributed power capacity additions across the globe will rise from 142 GW in 2012 to 200 GW in 2020, while investments in distributed power technologies will grow to USD 206 billion by 2022. Gas engines are a vital part of the current suite of distributed power generation technologies, which also includes solar panels, wind turbines, and fuel cells. The higher efficiency of gas engines and reliable generation capacity give it an edge over other distributed generation technologies to provide backup power capacity and onsite generation needs.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54641802

Why limited natural gas reserves remain a major challenge?

The total global proven reserves of natural gas were 186.9 trillion cubic meters (tcm) at the end of 2015, which is sufficient for 52.8 years at the current production rate. The reserve to production ratio of natural gas in North America was merely 12.9 years, compared to 276 years for coal, and may reduce if the US starts exporting natural gas to other markets, significantly reducing reserves meant for domestic consumption. The global natural gas supply is sufficient for only half as much time as coal at today’s rate of production, despite the fact that coal production and consumption is much higher in the fast growing economies of APAC. The potential supply will reduce further if natural gas consumption in the region accelerates at a faster pace than coal. The future supply of the chief raw fuel for gas-fired power plants would play a role in the long-term capacity planning by utilities and governments.

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The gas engine market is dominated by few global players. The key players operating in this market include General Electric Company (US), Rolls-Royce Holdings plc (UK), Caterpillar, Inc. (US), Wärtsilä Corporation (Finland), and Cummins Inc. (US).

 

Browse Related Reports:

Small Gas Engines Market – Global Forecast to 2021

The global small gas engines market is forecasted to grow from USD 2.38 Billion in 2016 to USD 2.91 Billion by 2021, at a CAGR of 4.15%. The small gas engines market growth is mainly driven by growth in the construction industry and an increasing demand for outdoor power equipment rental.

https://www.marketsandmarkets.com/Market-Reports/small-gas-engines-market-68985131.html

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/gas-engine-market-54641802.html