Gas Engine Market size worth $ 6.59 Billion, Globally, by 2028 at 5.53% CAGR: Verified Market Research®
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202 - Pages
126 – Tables
37 – Figures
Global Gas Engine Market Overview
The primary factor driving the market growth is the growing demand for efficient power generation technology; the increasing population with increasing power consumption in developing countries like China, India, Brazil, and Mexico has increased the market growth. Also, because of the expansion of developed countries and increasing living standards, which increases the demand for electricity waves, many counties across the globe are expanding their power generation capacities by raising the ability of the existing plant or installing new plants.
Because of stringent government regulations about carbon emissions, companies are moving towards using renewable energy sources for electricity generation and mainly prefer gas-based engines to use natural gas as fuel sources are the factors driving the market growth. Another factor is driving the growth of the market is the increasing demand for gas-fired power generation technology and the rising focus on lowering carbon emissions. Natural gas-based engines provide a high operational rate, fast start-up, and adaptable load efficiency as per the power need are the factors increasing the growth of the market.
Key Developments
Key Players
The major players in the market are General Electric Company, Wartsila Corporation, Cummins Inc., MAN SE, Kawasaki Heavy Industries, Ltd., JFE Holdings, Inc., Niigata Power Systems Co., Ltd., Caterpillar, Inc., Rolls-Royce Holdings Plc, and Siemens AG.
Verified Market Research has segmented the Global Gas Engine Market On the basis of Power Output, Fuel Type, Application, and Geography.
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