The Global Gas Engine Market size is expected to grow at an annual average of 4.3% during 2021-2027. The two main factors driving the market are the growing adoption of LNG fueled vessels due to falling gas prices, which have fallen by more than 30% over the past few years, and strict emission regulations on vessel fuels. Moreover, the expansion of the gas transport infrastructure supports primary energy consumption, i.e. the increasing share of gas in gas engines. However, the market is intensifying competition with the renewable sector and is currently integrating energy storage systems with solar and wind power systems to solve the intermittent problem. Additionally, the increased use of electric vehicles is hindering the market growth.
A full report of Global Gas Engine Market is available at: https://www.orionmarketreports.com/gas-engine-market/45796/
The following players are covered in this report:
By fuel type:
- Natural Gas
- Special Gas
- Others
By power output:
- 5–1 MW
- 1–2 MW
- 2–5 MW
- 5–10 MW
- 10–20 MW
By Application:
- Power Generation
- Cogeneration
- Mechanical Drive
- Others
By End-User:
- Utilities
- Oil & Gas
- Manufacturing
- Others
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
