Global Gas Engine Industry was valued at USD 3.60 Billion in the year 2017. Global Gas Engine Industry is further estimated to grow at a CAGR of 5.9% from 2019 to reach USD 6.53 Billion by the year 2025. Europe region holds the highest Industry share in 2017 and is also considered as the fastest growing Industry in the forecasted period. At a country level, developed industries like U.K. and Germany holds a notable Industry share in 2017 and are projected to grow at a gradual rate in the coming years.
Major market players in the Gas Engine Industry are Caterpillar Inc., Siemens AG, General Electric Company, Rolls-Royce Holdings Plc, Ingersoll-Rand PLC, Kawasaki Heavy Industries, ltd., Wartsila Corporation, Man SE, Liebherr Group, Hyundai Heavy Industries Co. Ltd., and other brief information of 10 companies will be provided in the report. Product up-gradation to cater changing demand of end users. Similarly, growth strategies such as acquisition & merger were few techniques adopted by most of the top players in last 5 years.
SWOT Analysis of Gas Engine Industry:
Rising need for clean power generation technology
Irregular supply of Natural Gas due to political uncertainties
Rising trend of distributed power generation
Limited natural gas reserves
Segmentation done on the basis of Application include Cogeneration, Power Generation, and Mechanical Drive; of which the Power Generation segment is expected to hold the highest Industry share during the forecast period.
Gas Engine Industry Segmentation:
By Industry Sector
• Oil & Gas
By Fuel Type
• Special Gas
• Natural Gas
• Power Generation
• Mechanical Drive
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa