The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global market of the gas engine is set to record growth at a CAGR of 6.68% during the estimated period, 2020-2028. The increasing utilization of natural gas in the power industry, the increasing application in the marine services, and the advancements in technologies, are the factors propelling the growth of the global gas engine market.
Natural gas is increasingly utilized in the generation of electric power. The demand for electricity is set to increase in the future, especially with regard to emerging economies like Brazil and China. The growing global population results in growing demands for electricity. The regulation of carbon emissions also requires electricity consumption. These factors are set to aid market growth. Natural gas vehicles are preferred for their high mileage and safety. However, natural gas is an exhaustible resource, and the depleting sources might hinder the market growth prospects.
The global market for the gas engine is studied through the market regions of Asia Pacific, Europe, North America, and the Rest of the World. The region of Europe dominates the market in terms of market share. This is attributed to the flourishing manufacturing sector in the region. The Asia Pacific market region is set to record the highest CAGR, as a result of the surging demands for electricity.
Some of the major players in the market include, Cummins Inc., Clarke Energy, 3w International GmbH, China Yuchai International Ltd., Caterpillar Inc., etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments