HOME Research Insight Market Leaders - Gas Engines Market

Market Leaders - Gas Engines Market

The global gas engine market is projected to grow at a CAGR of 6.12% from 2017 to 2022. Europe is estimated to be the largest gas engine market, by region, followed by North America. This trend is expected to continue during the forecast period. The growth of the gas engine market is driven globally by the rising demand for power generation from different industrial and commercial consumers which mainly include emergency power and Combined Heat and Power (CHP) applications. The other key growth factors that drive the gas engines market is the decreased natural gas prices along with the shift from using conventional fossil fuel such as coal, crude oil to natural gas, biogas as primary source of clean power generation.

The gas engine market is dominated by few global players. The key players operating in this market include General Electric Company (US), Rolls-Royce Holdings plc (UK), Caterpillar, Inc. (US), Wärtsilä Corporation (Finland), and Cummins Inc. (US).

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 2014 to 2017. These market players also adopted the new product launches strategy, which was the most widely followed from 2014 to 2017.

General Electric Company (US) is a leading player in the gas engine market. The company specializes in offering a wide spectrum of gas engines that are utilized in different applications. It operates through eight major business segments, namely, aviation, power, healthcare, oil & gas, capital, energy connections & lighting, renewable energy, and transportation. The company manufactures and offers a wide range of highly efficient & fuel-flexible gas engines under the Jenbacher and Waukesha brands. The company has a worldwide presence across all regions such as North America, Europe, Asia Pacific, and Middle East & Africa through its 325 manufacturing plants located in 40 countries along with its subsidiaries and a vast network of distributors and channel partners. The company has adopted contracts & agreements as a strategy to strengthen its presence in the American market with 184 manufacturing plants located in 38 states in the US and Puerto Rico to cater the regional American market. In July 2017, GE has launched its biggest ever Asset Performance Management (APM) application for gas engines that delivers powerful outcome to customers by controlling the overall engine performance with the reduction in the life cycle cost.

Caterpillar, Inc. (US), founded in 1925, is a global player offering product and services to infrastructure, energy, and mining sectors. The company operates through four major business segments, namely, resource industries, construction industries, energy & transportation, and financial products. Caterpillar manufactures gas engines and generates revenue under its energy and transportation business segment. The company provides wide range of gas engines for numerous applications with an ease of choosing fuel options. It manufactures and sells its gas engines under the MWM & Perkins brand. The company has a global presence and operates in more than 180 countries present in the major geographic regions such as Europe, Asia Pacific, Middle East & Africa, and North America through its subsidiaries and a vast network of distributors and channel partners. Caterpillar adopted contracts & agreements as a strategy to strengthen its presence in the global market. In July 2016, the company released the next generation of operator interface displays for CAT gas compression engines. The displays can monitor engine parameters and conditions on a touchscreen.

Related Reports:

Gas Engine Market by Fuel Type (Natural Gas & Special Gas), Application (Power Generation, Co-generation, & Mechanical Drive), End-User (Utilities, Manufacturing, & Oil & Gas), Power Output, and Region - Global Forecast to 2022

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