The gas engine market was valued at US$ 3,930.0 million in 2020, and it is expected to grow at a CAGR of 6.6% during 2021-2028 to reach US$ 6,354.4 million by 2028.

The gas engine manufacturing industry is continuously evolving with innovations in natural gas engines offerings to support emission targets. Rising demand for low-emission, fuel-efficient engines to reduce air pollution, and the advent of special gas engines in the manufacturing, utilities, and remote generation application sectors are the key factors propelling the gas engine market growth. Also, biogas-powered engines with improved electric efficiency and low emissions are creating substantial growth opportunities for the market players. The gas engine manufacturers are focusing on offering advanced products to address the rising demand for high power outputs, meeting diesel engine standards. Major heavy industries, remote power plants, and manufacturing companies are selecting high-power gas engines due to enhanced electric efficiency and reduced fuel costs. The use of natural gas in gas engines combustion technology can resolve the emission problems, along with assisting customers in meeting new regulatory norms. There is an increase in adoption of gas engines in South America, Africa, and Asia, while North America and Europe are focusing on adopting solar and wind energy.

With the outbreak of the COVID-19 worldwide, several business organizations have been pushed to reduce their operations owing to lockdowns announced by several governments across the globe. The lockdowns have drastically affected businesses. The lockdowns announced by various governments across the globe resulted in temporary shutdown of offices, schools, cinema halls, manufacturing plants, and venues. This had negatively impacted the market for gas engines. For instance, according to the International Energy Agency (IEA), the global demand for electricity has been decreased by 2.5% in first quarter of 2020. However, in the second half of 2020, with the relaxation of lockdown, the demand has again spiked due to the implementation of advanced technologies by the power generation plants to maintain power supply.

The global gas engine market is segmented into fuel type, power output, and end-user. Based on fuel type, the market is segmented into natural gas and special gas. Based on power output, the market is segmented into 100-300 kW, 300-500 kW, 0.5-1 MW, 1-2 MW, 2-5 MW, 5-10 MW, and 10-20 MW. In term of end-user, the market is segmented into remote, mid-stream oil and gas, heavy industries, light manufacturing, utilities, biogas, datacenters, MUSH, and commercial. By geography, the gas engine market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

A few key players operating in the global gas engine market and profiled in this market study are INNIO Jenbacher GmbH & Co OG; Caterpillar Inc.; Cummins Inc.; Fairbanks Morse, LLC; Kawasaki Heavy Industries, Ltd.; Liebherr; MAN SE; Mitsubishi Heavy Industries, Ltd.; R Schmitt Enertec GmbH; W?rtsil? Corporation; MTU (Rolls-Royce Power Systems AG); and 2G ENERGY AG, among others.

The overall global gas engine market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the gas engine market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the gas engine market.