Global Natural Gas Engine Market - Industry Trends and Forecast to 2030

Natural Gas Engine 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. In addition, 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.

Data Bridge Market Research analyses that the natural gas engine market which was USD 5.04 billion in 2022, would rocket up to USD 7.51 billion by 2030, and is expected to undergo a CAGR of 5.10% during the forecast period of 2023 to 2030.  

“High Pressure Direct Injection” dominates the engine family segment of the natural gas engine market due to its superior efficiency, power output, and emissions performance.

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

Natural Gas Engine Market Scope and Segmentation

Market Definition

Natural gas engine are designed to convert the chemical energy stored in natural gas into mechanical energy, which can be used for various applications, such as power generation, transportation, and industrial processes. The increasing awareness of environmental concerns and the need to reduce greenhouse gas emissions have led to a growing interest in cleaner and more sustainable energy sources, including natural gas.

Global Natural Gas Engine Market Dynamics

Driver

• 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. In addition, 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.

Opportunity

• 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 2023 to 2030. In addition, 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.

Restraint/Challenge

• 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 global natural gas engine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 global Natural Gas Engine market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In March 2023, Mitsubishi Heavy Industries Engine & Turbocharger is set to revolutionize power generation with its new SGP M2000 natural gas engine cogeneration system. Boasting an impressive 2000 kW output and an unparalleled electrical efficiency of 44.3%, this innovation not only reduces CO2 emissions but also offers remarkable compactness.

Global Natural Gas Engine Market Scope

The global 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 HP
• 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

Global Natural Gas Engine Market Analysis/Insights

The global natural gas engine market is analysed and market size insights and trends are provided by engine family, power output, horsepower, application and end-use are referenced above. The countries covered in the natural gas engine market report are 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.  

Europe region is dominating the natural gas engine market due to increasing business expansion and awareness among the customers within the region.

North America region had the highest growth rate in the natural gas engine market due to 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 regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream 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, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Natural Gas Engine Market Share Analysis

The global natural gas engine market competitive landscape provides details by competitors. 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 company’s focus related to the global natural gas engine market.

Some of the major players operating in the global natural gas engine market are:

• Caterpillar (U.S.)
• Wärtsilä (Finland)
• Rolls-Royce plc (U.K.)
• 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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