According to research report titled ‘GLOBAL Gas Engine Market 2019-2027’, available with Market Study Report, global gas engine market is projected to proliferate at a yearly rate of 7.12% between 2019-2027.
 

Decreasing gas prices, increasing ecological concerns, rising demand of electricity, and preference for environment-friendly power generation are key factors driving the growth of global gas engine market. Moreover, a shift towards gas-fired power plants, and inclination for distributed power generation will facilitate industry outlook.
 

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On the other hand, depreciating natural gas reserves, strict government regulations, growing safety concerns, and varying prices for different types of fuels is poised to hamper worldwide gas engine market expansion over the coming years.
 

The report provides an in-depth analysis of overall market sphere by dividing it based on regions, product gamut, application scope etc. Industry share held by each segment and their growth rate projections over 2019-2027 are provided in the document.
 

Based on fuel type, global gas engine domain is segmented into natural gas, special gas, and others. Speaking of power range, the industry is segregated into 10 MW TO 20 MW, 5 MW-10 MW, 2 MW-5MW, 1MW-2MW, and 0.5MW-1MW. According to application scope, the marketplace is divided into power generation, co-generation, and others. While various end-users include utilities, manufacturing, oil & gas, and transportation among others.
 

Regionally speaking, Europe held 39.56% share of global gas engine industry valuation in 2018. Utilization of natural gas instead of coal, rising demand for clean energy, temporary shutdown of nuclear plants, and emission targets set by the European Union are responsible for regional contribution.
 

Moreover, Germany is poised to create lucrative opportunities for Europe market over the forecast period, due to stability in grid network, adoption of renewable energy, and closure of nuclear as well as coal power plants.
 

Leading companies influencing global gas engine market dynamics are IHI Corporation, Cummins Inc., General Electric Company, MAN SE, Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Deutz AG, Fairbanks-Morse & Company, Kawasaki Heavy Industries Ltd., Clarke Energy, 3W International GmbH, Dresser-Rand Group Inc., Caterpillar Inc., China Yuchai International Limited, and Wärtsilä Oyj Abp.
 

Industry partakers have made strategic moves like mergers, partnerships, investments, acquisitions etc. to win a competitive advantage and strengthen their foothold in the global market.