Global Natural Gas Engine Market, By 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) – Industry Trends and Forecast to 2029.
Market Analysis and Size
Over the last few years, there have been various technological advancements to produce the better versions of gas engines, which has massively benefitted the gas engines market. Additionally, the market is also witnessing huge demand for clean and efficient power generation technology, which further increases the overall growth of the market. Consequently, these factors will help the market to gain traction during the forecasted period.
The global natural gas engine market was valued at 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. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
An internal combustion engine that runs on gaseous fuels like coal gas, producer gas, biogas, landfill gas, and natural gas is a gas engine. Natural gas is also more efficient than gasoline in terms of fuel efficiency. It has a lower hydrocarbon content and a higher octane rating, which aids engine combustion and efficiency.
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 2019 - 2014)
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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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By 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, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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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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Market Opportunities
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Natural Gas Engine Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand For Clean And Efficient Power Generation Technology
The natural gas engines burn cleaner, with no soot pollution of the engine oil in the crankcase. As a result, when compared to oil and coal-fired power plants, these power plants emit a small amount of carbon monoxide (CO), carbon dioxide (CO2), Sulphur oxide (SO), and nitrogen oxide (NO). Thermodynamic efficiency are also higher in natural gas-fired power plants. When natural gas is utilized instead of coal, the air quality improves. Moreover, natural gas-fired power stations are less expensive and simpler to construct. Consequently, the demand for natural gas engines has largely increased due to these advantages.
The increase in the use of distributed power generation systems will further propel the growth rate of natural gas engine market. Additionally, the high adoption of natural gas by developing nations to achieve operational excellence and reduce carbon footprint is soon projected to bolster the market's growth.
Opportunities
- Reduction of Emissions and Adoption of Natural Gas
Furthermore, factors such as manufacturers' increasing focus on reducing carbon emissions extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the growing inclination towards gas-fired power plants and adoption of natural gas as a transition fuel will further expand the future growth of the natural gas engine market.
Restraints/Challenges
- Lack Of Infrastructure
The lack of proper infrastructure will create hindrances for the growth of the natural gas engine market.
- Geopolitical Instability
Also, the factors such as the US-China trade war, as well as Australia-China tensions, high political tensions between the CIS and certain European countries, and ongoing political difficulties between Russia and the European Union (EU) over the Ukraine crisis, which further affect the supply and pricing of natural gas are estimated to be a demerit for the natural gas engine market. Therefore, this factor will challenge the natural gas engine market growth rate.
This natural gas engine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the natural gas engine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Natural Gas Engine Market
The global expansion of coronavirus has had a number of negative consequences for major producing and manufacturing enterprises all around the world. The primary sectors that were the most affected were hospitality, aviation, manufacturing, oil, and gas. The healthcare and medical sectors, on the other hand, saw a bump. Government rules, support, and assistance were provided in the form of regulations, subsidies, budget allocation for specific regions, and more. The epidemic also afflicted the global sector that uses renewable energy sources. The reality that this business is import-dependent cannot be overlooked. China is the world's largest exporter. The supply chain system was severely impacted. Similar topics are discussed in the global gas engine industry research.
Recent Development
- In September 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. This project will help to close the gap, and around 600,000 people will benefit from a more reliable and cost-effective electrical supply delivered to SEEG.
Global Natural Gas Engine Market Scope
The natural gas engine market is segmented on the basis of engine family, power output, horsepower, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Engine Family
- Spark Ignited Engines
- Dual Fuel Type Engine
- 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
Natural Gas Engine Market Regional Analysis/Insights
The natural gas engine market is analyzed and market size insights and trends are provided by country, engine family, power output, horsepower, application and end use as referenced above.
The countries covered in the 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, Israel, Egypt, South Africa, 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.
Europe dominates the natural gas engine market because of the increasing business expansion and awareness among the customers within the region.
On the other hand, North America is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the growing usage of the automotive, increasing consumption of natural gas engines, and the easy availability of natural gas in emerging economies the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Natural Gas Engine Market Share Analysis
The natural gas engine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to natural gas engine market.
Some of the major players operating in the natural gas engine market are
- 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.)
- Baudouin (France)
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