According to the research report titled ‘GLOBAL GAS ENGINE MARKET 2019-2027’ available with Market Study Report, global gas engine market is projected to register a robust CAGR of 7.12% during 2019-2027.
 

Factors such as escalating demand for electricity, flourishing industrial sector that facilitates environmental power generation, and growing concerns pertaining to environmental safety are augmenting the growth of global gas engine market size.
 

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Additionally, rising preference towards distributed power generation coupled with high inclination towards gas-fired power plants are stimulating the overall market outlook. However, fluctuating fuel prices, depreciation in natural gas reserves, imposition of stringent regulations, and rising safety concerns are expected to restrain the global gas engine market growth.
 

Based on fuel type, global gas engine market is divided into special gas, natural gas, and others. With regards to power, the market is split into 10.0 mW-20.0 mW, 5.0 mW-10.0 mW, 2.0-5.0 mW, 1.0-2.0 mW, and 0.5 mW-1.0 mW.
 

Moving on to application spectrum, worldwide gas engine industry comprises of co-generation, power generation, and others. The end-user terrain of the overall market is fragmented into transportation, oil & gas, manufacturing, utilities, and others.
 

From the regional point of view, Europe accounted for 39.56% shares in global gas engine market in the year 2018 and is expected to show similar growth trends over the forecast period. Surging demand for clean energy, favorable initiatives by the European Union, temporary halt of nuclear power plants, and increasing preference towards adopting natural gas over coal are fostering the expansion of the regional market.
 

Furthermore, Germany dominates the Europe gas engine market and is anticipated to witness substantial growth through 2027, owing to closure of coal & nuclear power plants, shifting focus towards adoption of renewable energy, and stable grid network systems in the country.
 

The companies that outline the global gas engine industry trends are Wärtsilä Oyj Abp (Wärtsilä Corporation), Mitsubishi Heavy Industries Ltd., MAN SE, Kawasaki Heavy Industries Ltd., IHI Corporation, Hyundai Heavy Industries Co. Ltd., General Electric Company (GE), Fairbanks Morse Engine, Dresser-Rand Group Inc., Deutz AG, Clarke Energy, Doosan Infracore Co. Ltd., China Yuchai International Limited, Cummins Inc., Caterpillar Inc., and 3W International GmbH.