Gas Engines Market

Caterpillar (US) and Rolls-Royce Holdings plc (UK) are the Global Players in the Gas Engines Market

The global gas engines market size is projected to reach USD 5.3 billion by 2024, from an estimate of USD 4.0 billion in 2019, growing at a CAGR of 5.7% during the forecast period. Europe is estimated to be the largest consumer of gas engines, followed by North America. This trend is expected to continue during the forecast period. The growth of the gas engines industry is driven by the increasing demand for clean and efficient power generation technology and implementation of stricter emission regulations globally.

A few global players dominated the gas engines market. The key players operating in this market include Rolls-Royce Holdings plc (UK), Caterpillar (US), Wärtsilä Corporation (Finland), Cummins (U.S.), and Man SE (Germany).

Contracts & agreements and new product launches have been the key growth strategies adopted by major market players. Contracts & agreements was the most commonly used strategy used from January 2016 to June 2019. These gas engines market players also undertook the new product launches strategy during the same period.

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Caterpillar (US), founded in 1925, is a global player offering products and services to infrastructure, energy, and mining sectors. The company primarily operates through three product segments, namely, resource industries, construction industries, and energy & transportation. It also provides financing-related services through its financial products segment. Under the energy & transportation segment, the company offers generators for power generation, industrial & commercial, oil & gas, marine, rail, and transport applications. Its product and services portfolio includes gas engines, reciprocating engines, generator sets, marine propulsion systems, gas turbines, integrated systems used in the electric power generation industry, turbines, centrifugal gas compressors, and diesel-electric locomotives and other rail-related products and services. It offers gas engines under the brand names of CAT and MWM. The company has established numerous manufacturing facilities and subsidiaries in the Americas, EMEA, and Asia Pacific, and has 175 dealers globally. Its global competitors include Deutz AG, GE Power, Rolls-Royce, Siemens Power and Gas, Wärtsilä, Cummins, INNIO, MAN Energy Solutions, and Mitsubishi Heavy Industries. Caterpillar adopted new product launches as a key strategy to strengthen its presence in the global gas engines market. For instance, in October 2019, Caterpillar launched the first natural gas-powered generator set—Cat G3516C. It is optimized to run on Lean Coal Mine Methane (LCMM) for local mining applications. It will provide significant benefits to Caterpillar’s local customers to enhance product support and optimize cost efficiencies.

Rolls-Royce Holdings plc (UK), founded in 1906, is a key provider of integrated power and propulsion systems. The company operates through five segments, namely, civil aerospace, power systems, defense aerospace, marine, and nuclear. 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 sales networks in over 120 countries. The major competitors of the company are Cummins Inc. (US), Robert Bosch GmbH (Germany), Caterpillar Inc. (US), and Liebherr International AG (Switzerland). Rolls-Royce adopted contracts & agreements as their strategy to strengthen its presence in the global gas engines market. In November 2019, Rolls-Royce entered into a contract with 2G Energy. The contract covers the mutual supply of gas-powered gensets. Rolls-Royce will supply 2G with MTU gas-powered generator sets based on Series 4000 engines delivering 776–2,535 kW. 2G will use these generator sets in its CHP modules for on-site generation of electrical power and heat.  

Related Reports:

Gas Engines Market by Fuel Type (Natural Gas, Special Gas) Application (Power Generation, Cogeneration, Mechanical Drive) End-User (Utilities, Manufacturing, Oil & Gas) Power Output (0.5–1MW, 1–2MW, 2–5MW, 5–10 MW, 10–20MW), Region – Global Forecast to 2024

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Report Code
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