Pune, India -- (SBWIRE) -- 12/19/2019 -- Infinium Global Research has recently published a report on "Gas Engine Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024." The global gas engine market is projected to grow at a CAGR of 6.5% over the forecast period of 2018 - 2024.

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According to the IGR research analysts the key factor driving the growth of the market is strict emission regulations on marine fuel, which are resulting into adoption of LNG-fueled vessels. The three main options currently available to the industry to meet air quality environmental targets are: using low Sulphur fuels/distillates, installing exhaust gas cleaning systems or using liquefied natural gas (LNG) as a primary fuel. Despite the increasing interest driven primarily by the need to comply with ECA regulations there is significant work undergoing to determine the full potential and extent to which LNG, as a potential fuel source, for wider application.

Power Generation is Expected to Be the Largest Segment of the Gas Engine Market

The report gives an in-depth analysis of the global gas engine market, focuses on market opportunities along with the trends driving the market. The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

The report provides the segmentation by fuel type (natural gas, special gas, other fuel types) , by power output (  0.5 MW–1 MW, 1 MW–2 MW, 2 MW–5 MW, 5 MW–10 MW, and 10 MW–20 MW), by application ( co-generation, power generation, and other application), by end user ( utilities, manufacturing, and oil & gas, other end-users) and by geography. Power generation is expected to be the largest segment of the gas engine market due to rising demand for new gas-fired power plants owing to the increasing energy demands, which, in turn, is driving the power generation application segment of the gas engine market.

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Asia-Pacific Region Offers a Substantial Potential Market During the Forecast Period 

The APAC region gas engine market is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024. The factors driving the growth of the gas engine market in this region is due to growing development of advanced automotive engines to produce increased torque and power that are likely to boost the demand for gas engines in Asia-Pacific, especially in China and India.

Major Companies in the Global Gas Engine Market

The key players featured in the report are Caterpillar, Inc., General Electric Company, Rolls-Royce Holdings Plc, Wärtsilä Corporation, Siemens AG, Mitsubishi Heavy Industries, Ltd., MAN SE, Cummins Inc., JFE Holdings, Inc., and Kawasaki Heavy Industries, Ltd.

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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global gas engine market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of gas engine market.

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Moreover, the study highlights current market trends and provides forecast from 2018 to 2024. We also have highlighted future trends in the gas engine market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the gas engine market to understand the present and future trends in this market and formulate their strategies accordingly.

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the gas engine.

=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.