Gas Engines Market

Wärtsilä (Finland) and Rolls-Royce Holdings (UK) are leading players in Gas Engines Market

The gas engines market is expected to grow from an estimated USD 4.8 billion in 2022 to USD 5.8 billion by 2027, at a CAGR of 4.1% during the forecast period. The rising demand for clean and efficient power generation technology, increase in the use of distributed power generation systems, and stricter emission regulations are the main drivers for the gas engines market. The increasing inclination towards gas-fired power plants, and adoption of natural gas as a transition fuel are expected to offer lucrative opportunities for the gas engines market during the forecast period.

A few major players that have a wide regional presence dominate the gas engines market. The leading players in the gas engines market include Caterpillar (US), Wärtsilä (Finland), Rolls-Royce Holdings (UK), Volkswagen (MAN Energy Solutions) (Germany), and Siemens Energy (Germany). Major strategies adopted by these players include product launches, acquisitions, collaborations, partnerships, sales contracts, agreements, joint ventures, and expansions. Product launches was the most commonly adopted strategy from January 2018 to December 2021.

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Rolls-Royce Holdings is a key provider of integrated power and propulsion systems. The company operates through four segments—Civil Aerospace, Power Systems, Defence, and ITP Aero. The company offers gas engines under its Power Systems business segment. The Power Systems segment provides high- and medium-speed reciprocating engines, distributed energy solutions, complete propulsion and drive systems, and fuel injection systems. It caters to the marine, land defense, mining, construction, agriculture, naval, rail, oil & gas, and power generation sectors. The core brands in this segment are Bergen, MTU, L’Orange, and MTU Onsite Energy. The company provides gas engines for the power generation and oil & gas sector under the MTU Onsite Energy and Bergen brands. Rolls-Royce has 31 research and technology centers across the globe. It conducts operations in 50 countries and has sales networks in over 120 countries. The major competitors of the company are Cummins (US), Robert Bosch GmbH (Germany), Caterpillar (US), and Liebherr (Switzerland). For instance, in December 2021, Rolls-Royce Holdings introduced significantly extended engine running times of up to 96,000 hours between overhauls (TBO) for the latest generation of its MTU Series 4000 engines for commercial marine applications. In general, all marine engines of the latest generation of MTU Series 4000 can now run for up to 25 years before they need a major overhaul, depending on the duration and intensity of use.

Wärtsilä is a leading provider of technologies and solutions for the power and marine markets. The company operates through five business segments—Marine Power, Marine Systems, Energy Solutions, Voyage, and Portfolio Business. Gas engines fall under the Energy Solutions segment. The Energy Solutions segment comprises flexible internal combustion engine-based power plants, hybrid solar power plants, energy storage, and integration solutions, as well as gas-to-power systems to various industries, such as utilities, IPPs, marine, mining & cement, datacenters, and oil & gas. Wärtsilä also serves large industries requiring a relatively high electrical load, such as data centers and cement and mining facilities. It also offers energy storage, hybrid solutions, and advanced software for energy management. The major competitors of Wärtsilä in the Energy Solutions division are Volkswagen (MAN Energy Solutions), Caterpillar (US), INNIO (Austria), and Rolls-Royce Holdings (UK). The company has operations in over 200 locations in more than 80 countries around the world. For instance, in November 2021, Wärtsilä signed a contract with Mexico’s state-owned electricity utility, Comision Federal de Electricidad (CFE), with two large multi-fuel power plants having a combined output of 600 MW. The projects comprise a 400 MW facility, the Mexicali Oriente power plant located in Mexico’s Baja California state, and the Parque Industrial plant, a 200 MW-generating unit located in Sonora, Mexico. The Mexicali Oriente plant will operate with 24 Wärtsilä 50DF dual-fuel engines, while the Parque Industrial plant will feature 22 Wärtsilä 34DF dual-fuel engines. The engines will operate primarily on gas with the capability to use liquid fuel as a backup if required.

Related Reports:

Gas Engines Market by Fuel Type (Natural Gas, Special Gas), Application (Power Generation, Cogeneration, Mechanical Drive), Power Output (0.5–1 MW, 1–2 MW, 2–5 MW, 5–15 MW, & Above 15 MW), End-User Industry, and Region - Global Forecast to 2027

Contact:
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Gas Engines Market Size,  Share & Growth Report
Report Code
EP 4541
RI Published ON
2/21/2022
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