NEW YORK, Sept. 26, 2022 /PRNewswire/ -- The "Gas Engine Market in North America by End-user, Application, and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the gas engine market between 2021 and 2026 is USD 468.61 million.
Factors such as the increase in business activities, and the development of modernized public and private infrastructure have significantly contributed to the growth of the commercial sector in North America. Similarly, the residential sector has been witnessing steady growth over the years with increasing disposable income, an increase in lending activities, and the recovery of the housing market in the region. The growth of these sectors has subsequently increased the dependence on third-party power suppliers to avoid power cuts during critical times. Many such factors are expected to create significant growth opportunities for vendors operating in the market. Download PDF Report Sample
Key Market Dynamics:
The increasing demand for efficient heat and power generation in North America and the abundant availability of natural gas in North America are some of the key market drivers. However, the presence of close substitutes will challenge market growth.
The gas engine market report is segmented by application (power generation, co-generation, and others), end-user (power, industrial, residential, and commercial), and geographic (North America).
By application, the market will observe significant growth in the power-generating segment during the forecast period. The segment is driven by the increasing demand for gas engines for power generation or standby power systems by various end-users, including power plant operators (utilities), industrial, commercial, and residential end-users.
Similarly, the power industry will emerge as the prime end-users for gas engines in North America over the forecast period. The replacement of a significant number of coal-fired power plants with natural gas-fired power plants is fostering the growth of the segment. Also, the abundant availability and low prices of natural gas are contributing to the growth of the segment.
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Some Companies Mentioned with their Offerings
Caterpillar Inc.: The company offers gas engines such as G12CM34 gas engines.
China National Petroleum Corp.: The company offers oilfield services, petroleum engineering and construction, equipment manufacturing, financial services, and new energy development.
Cummins Inc.: The company offers gas engines such as Cummins X15N engines.
Fairbanks Morse LLC: The company offers engines, power systems, and control solutions for marine vessels along with related parts and services.
INNIO Jenbacher GmbH and Co. OG: The company offers gas engines such as J208 and J920 FleXtra gas engines.
China Yuchai International Ltd.
HD Hyundai Co.Ltd.
JFE Engineering Corp.
Kawasaki Heavy Industries Ltd.
Liebherr International AG
MAN Energy Solutions SE
Mitsubishi Heavy Industries Ltd.
R Schmitt Enertec GmbH
Rolls Royce Holdings Plc
Westport Fuel Systems Inc.
Yanmar Holdings Co. Ltd.
Gas Engine Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of almost 5.6%
Market growth 2022-2026
USD 468.61 million
YoY growth (%)
Leading companies, competitive strategies, consumer engagement scope
Caterpillar Inc., China National Petroleum Corp., China Yuchai International Ltd., Cummins Inc., DEUTZ AG, Fairbanks Morse LLC, HD Hyundai Co.Ltd., IHI Corp., INNIO Jenbacher GmbH and Co. OG, JFE Engineering Corp., Kawasaki Heavy Industries Ltd., Kohler Co., Liebherr International AG, MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., R Schmitt Enertec GmbH, Rolls Royce Holdings Plc, Siemens AG, Westport Fuel Systems Inc., and Yanmar Holdings Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Application
5.1 Market segments
5.2 Comparison by Application
5.3 Power generation - Market size and forecast 2021-2026
5.4 Co-generation - Market size and forecast 2021-2026
5.5 Others - Market size and forecast 2021-2026
5.6 Market opportunity by Application
6 Market Segmentation by End-user
6.1 Market segments
6.2 Comparison by End-user
6.3 Power - Market size and forecast 2021-2026
6.4 Industrial - Market size and forecast 2021-2026
6.5 Residential - Market size and forecast 2021-2026
6.6 Commercial - Market size and forecast 2021-2026
6.7 Market opportunity by End-user
7 Customer Landscape
7.1 Customer landscape overview
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Caterpillar Inc.
10.4 Cummins Inc.
10.5 HD Hyundai Co.Ltd.
10.6 INNIO Jenbacher GmbH and Co. OG
10.7 Kawasaki Heavy Industries Ltd.
10.8 Liebherr International AG
10.9 MAN Energy Solutions SE
10.10 Mitsubishi Heavy Industries Ltd.
10.11 Siemens AG
10.12 Yanmar Holdings Co. Ltd.
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
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