Gas Engine Market Worth 4.76 Billion USD by 2022

               Gas Engine Market Worth 4.76 Billion USD by 2022

  PR Newswire

  PUNE, India, August 30, 2017

PUNE, India, August 30, 2017 /PRNewswire/ --

The report  " Gas Engine Market, By Fuel Type (Natural Gas & Special Gas),
Application (Power Generation, Co-generation, & Mechanical Drive), End-User
(Utilities, Manufacturing, & Oil & Gas), Power Output, and Region: Global
Forecast to 2022 " , published by MarketsandMarkets™, the market is expected
to grow from an estimated USD 3.54 Billion in 2017 to USD 4.76 Billion by
2022, at a CAGR of 6.12%, during the forecast period. This growth can be
attributed to the increased demand for new gas-fired power plants in
developing regions and the replacement and refurbishment of existing power
plants in developed countries.

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Browse 68 Market Data Tables and 48 Figures spread through 184 Pages and
in-depth TOC on " Gas Engine Market " .

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The natural gas segment is expected to hold the largest share of the Gas
Engine Market , by fuel type, during the forecast period.  

The natural gas segment led the Gas Engine Market in 2016 and is expected to
grow at a decent pace during the forecast period. Natural gas is the most
commonly used fuel for power gas engines among other fuels. It is
comparatively more cost-effective than other fuel types such as biogas,
producer gas, and sewer gas which is the main reason for the large market
share held by the segment. The natural gas segment is driven by the increased
demand for power generation applications.

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The power generation application segment is expected to be the largest segment
of the Gas Engine Market .  

The power generation segment is expected to be the largest segment of the Gas
Engine Market, by application, in 2017. The governments of developing nations
around the world are spending heavily on the construction of new gas-fired
power plants while those in developed nations are investing in their aging
gas-fired power plants. The demand for new gas-fired power plants due to the
increasing energy demands, which, in turn, is driving the power generation
application segment of the Gas Engine Market.

Europe: the leading Gas Engine Market  

In this report, the Gas Engine Market has been analyzed with respect to five
regions, namely, North America, Europe, Asia Pacific, South America, and the
Middle East & Africa. The European market is expected to lead the Gas Engine
Market, by region, the growth of the Gas Engine Market in the European region
can be attributed to the EU's policies to curb the CO2 emission,
well-established gas distribution network, and increased production of biogas
in the region.

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To enable an in-depth understanding of the competitive landscape, the report
includes the profiles of some of the top players in the Gas Engine Market.
They are General Electric Company (US), Caterpillar Inc. (US), Wärtsilä
Corporation (Finland), Rolls-Royce Holdings plc (UK), and Cummins Inc. (US).
The leading players are trying to enter the market of developing economies and
are adopting various strategies to increase their market shares.

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