Global gas engine market is anticipated to grow at a significant CAGR of 14.6% during the forecast period (2024-2031). The market growth is attributed to the growing industries and utilities striving to reduce their carbon footprint and enhance energy efficiency, the demand for gas engines capable of utilizing special gases.Four-stroke gas engines power the vast majority of automobiles, light trucks, medium-to-large motorcycles, and lawnmowers. Two-stroke gas engines are less common, but they are used for small outboard marine engines and in many handheld landscaping tools such as chainsaws, hedge trimmers, and leaf blowers. Market players investing in upgrades of gas enginesto improve theiroperational performance.For instance, in April 2023, Cummins Inc. invested $1.0 billion acrossthe US manufacturing network. The investment providesupgrades to those facilities to support the industry’s first fuel-agnostic engine platforms that run on low-carbon fuels, including natural gas, diesel, and eventually hydrogen, helping decarbonize the nation’s truck fleets.
Browse the full report description of “Gas Engine Market Size, Share & Trends Analysis Report by Fuel Type (Natural Gas and Special Gas), by Power Output (0.5-15 MW and Above 15 MW), by Application (Power Generation, Co-generation, and Mechanical Drive),and by End-Users (Utilities, Manufacturing, Oil & Gas and Marine) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/gas-engine-market
Modern gas engines can produce more power with fewresources by extracting more energy from each unit of fuel used, which increases overall energy efficiency. For instance, in January 2023, General Motors Co.invested$918.0 million in four US manufacturing sites, including $854.0 million to prepare these facilities to produce the company’s sixth generation Small Block V-8 engine and an additional $64 million in Rochester, New York and Defiance, Ohio for castings and components to support EV production. The company invested $579.0 million to prepare the plant to assemble GM’s sixth generation family of Small Block V-8 gas engines along with the related block, crank, and head machining.
Modern test capabilities developstate-of-the-art facilities that enhance recent modernization projectsand create value for customers with highly efficient and advanced manufacturing capabilities.For instance, in March 2022, Rolls-Royce North America invested $400.0 million in a major modernization of gas engine test facilities in Indiana, bringing total company investment in the US to nearly $1.5 billion. The Indianapolis facility testsengines for a variety of products, including the US Air Force B-52 strategic bomber fleet, after Rolls-Royce won a $2.6 billion contract last fall to manufacture 650 engines for the iconic aircraft.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Fuel Type
o By Power Output
o By Application
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Caterpillar Inc., Doosan Corp., General Electric Company, Kawasaki Heavy Industries, Ltd., and Siemens AG, among others.
Key questions addressed by the report.
Global Gas Engine Market Report Segment
By Fuel Type
By Power Output
By Application
By End-Users
Global Gas Engine Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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