Over the last few years, the gas engines market has experienced significant growth, with numerous technological advancements aimed at producing better and more efficient versions of gas engines. These advancements have resulted in improved performance, reduced emissions, and enhanced fuel efficiency, making gas engines increasingly attractive for various applications. Moreover, the market is witnessing a substantial demand for clean and efficient power generation technology, driven by environmental concerns and the need for sustainable energy solutions. These positive factors are expected to propel the gas engines market forward, ensuring its continued traction and growth during the forecasted period.
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Data Bridge Market Research analyses that the Global Natural Gas Engine Market is expected to grow to USD 4.80 billion in 2021 and is expected to reach USD 7.04 billion by 2029, registering a CAGR of 4.90% in 2022-2029. Natural gas engines often provide cost savings in terms of fuel expenses, maintenance, and reduced emissions-related expenses, making them economically beneficial for businesses and industries.
Key Findings of the Study
Demand for decentralized power generation is expected to drive the market's growth rate
The increasing demand for decentralized power generation solutions has led to the adoption of natural gas engines for distributed energy generation and microgrid applications. Natural gas engines offer a reliable and efficient source of power that can be deployed in remote locations or areas with limited access to traditional power grids. Utilizing natural gas engines, communities and industries can generate their own electricity, ensuring a stable and uninterrupted power supply, while reducing their dependence on centralized power systems and promoting energy independence.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Engine Family (Spark Ignited Engines, Dual Fuel Type Engine and High Pressure Direct Injection), Power Output (500 KW – 800 KW, 1000 KW – 2000 KW, 3000 KW – 4500 KW), Horsepower (Up to 1000 HP, 1000&ndash, 2000 HP, Above 2000 HP), Application (Natural Gas Gensets, Natural Gas Automotive, Decentralized Energy Generation), End Use (Utilities, Marine, Oil and Gas, Manufacturing, Commercial Complexes, Wastewater Treatment Plants, Hospitals, Greenhouse Operators)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Caterpillar (U.S.), Wärtsilä (Finland), Rolls-Royce plc (UK), Volkswagen (Germany), Siemens (Germany), INNIO (Austria), Cummins Inc., (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Ningbo C.S.I Power & Machinery Group Co., Ltd. (China), IHI Power Systems Co.,Ltd. (Japan), JFE Engineering Corporation (Japan), Liebherr (Germany), Hyundai Heavy Industries Co., Ltd. (South Korea), ENF Ltd., (China), R Schmitt Enertec GMBH (Germany), China National Petroleum Corporation (China), Fairbanks Morse Defense (U.S.) and Baudouin (France)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The natural gas engine market is segmented on the basis of engine family, power output, horsepower, application, and end use.
- On the basis of engine family, the natural gas engine market is segmented into spark ignited engines, dual fuel type engine, and high pressure direct injection. A spark ignited engines segment is expected to dominate the engine family segment of the natural gas engine market with 67.23% market share in the forecast period of 2022 to 2029 due to igniting the fuel-air mixture, powering most modern cars, offering good efficiency, and lower emissions.
- On the basis of power output, the natural gas engine market is segmented into 500 kW – 800 kW, 1000 kW – 2000 kW, 3000 kW – 4500 kW. 500 kw - 800 kw segment is expected to dominate the power output segment of the natural gas engine market with a CAGR of 8.2% in the forecast period of 2022 to 2029 due to offering a compromise between a manageable size and adequate energy capacity for a range of applications, including manufacturing, data centers, and large buildings
In 2022, the 500 kW - 800 kW segment is expected to dominate the power output segment of the natural gas engine market
In 2022, the 500 kW - 800 kW segment is expected to dominate the power output segment of the natural gas engine market owing to offering a balance between sufficient energy capacity and manageable size for diverse applications, such as manufacturing, data centers, and large building with a CAGR of 8.2% in the forecast period of 2022 to 2029.
- On the basis of horsepower, the natural gas engine market is segmented into up to 1000 HP, 1000 and ndash, 2000 HP, and above 2000 HP.
- On the basis of application, the natural gas engine market is segmented into natural gas gensets, natural gas automotive, and decentralized energy generation. In 2020, natural gas gensets segment is expected to dominate the application segment of the natural gas engine market with a CAGR of 7.2% in the forecast period of 2022 to 2029 due to natural gas's widespread availability, cleaner burning characteristics, and less expensive operation. They offer dependable and effective power generation for a range of uses, such as distributed energy systems and backup power.
In 2022, the natural gas gensets segment is expected to dominate the application segment of the natural gas engine market
In 2022, the natural gas gensets segment is expected to dominate the application segment of the natural gas engine market owing to their cleaner burning properties, widespread availability of natural gas, and lower operational costs. They provide reliable and efficient power generation for various applications, including backup power and distributed energy systems with a CAGR of 7.2% in the forecast period of 2022 to 2029.
- On the basis of end use, the natural gas engine market is segmented into utilities, marine, oil and gas, manufacturing, commercial complexes, wastewater treatment plants, hospitals, and greenhouse operators.
Major Players
Data Bridge Market Research recognizes the following companies as the major natural gas engine market players in natural gas engine market are Rolls-Royce plc (UK), Volkswagen (Germany), Siemens (Germany), INNIO (Austria), Cummins Inc., (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Ningbo C.S.I Power & Machinery Group Co., Ltd. (China), IHI Power Systems Co.,Ltd. (Japan)
Market Developments
- In 2021, The Government of Gabon had signed a Concession Agreement with Wärtsilä (Finland) and Gabon Power Company (GPC), a subsidiary of the Sovereign Fund of the Gabonese Republic (FGIS), for the development, supply, building, operation, and maintenance of a 120 MW gas power plant.
- In 2021, Rolls-Royce Holdings introduced significantly extended engine running times of up to 96,000 hours between overhauls (TBO) for the latest generation of its MTU Series 4000 engines for commercial marine applications.
- In 2021, Wärtsilä signed a contract with Mexico’s state-owned electricity utility, Comision Federal de Electricidad (CFE), with two large multi-fuel power plants having a combined output of 600 MW.
- In 2021, Caterpillar (US) acquired Carbon Point Solutions (US) to concentrate and capture CO2 for utilization.
- In 2021, Siemens Energy (Germany) signed an agreement with Spanish EPC contractor TSK to provide the company’s highly efficient energy technology and services to Atinkou (formerly known as Ciprel V), a new combined-cycle gas power plant to be built in Jacqueville, Côte d’Ivoire.
Regional Analysis
Geographically, the countries covered in the global natural gas engine market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Europe is the dominant region in the natural gas engine market during the forecast period 2022 -2029
Europe's dominance in the natural gas engine market can be attributed to the region's increasing business expansion and growing awareness among customers about the benefits of using natural gas engines. European countries have been actively promoting sustainable and environmentally friendly solutions, and natural gas engines align with these goals due to their lower emissions and energy efficiency. Additionally, the availability of supportive government policies, incentives, and investment in cleaner energy solutions has further accelerated the adoption of natural gas engines in various industries across Europe.
North America is estimated to be the fastest growing region in the natural gas engine market for the forecast period 2022-2029
North America's anticipated lucrative growth in the natural gas engine market from 2022 to 2029 can be attributed to several factors. The region's thriving automotive industry is driving the demand for natural gas engines, which offer lower emissions and cost-efficient operations. Additionally, the increasing consumption of natural gas engines in various applications, including power generation and transportation, further bolsters market growth. The easy availability of natural gas in emerging economies within North America contributes to the region's favorable position for adopting and utilizing natural gas engines for a wide range of applications.
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