Enjoy complimentary customisation on priority with our Enterprise License!
The North America gas engine market size is forecast to increase by USD 365.8 million at a CAGR of 4.5% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Gas engines play a significant role in power generation and standby power systems for various end-users in North America, including utilities, industries, commercial, and residential sectors. Natural gas, as a clean and efficient energy source, is widely used in gas-fired power plants. In these plants, the expansion of hot gases pushes pistons within cylinders, converting linear motion into rotational energy via crankshafts to generate power. Gas engines produce power ranging from 5 kilowatts (kW) to 20 megawatts (MW), making them suitable for small-scale backup generators and large-scale power generation through the combination of multiple engines. Natural gas engines contribute to electricity generation, powering industries, and providing energy to residential and commercial settings.
Gas engine technology focuses on enhancing fuel efficiency, reducing emissions, and improving energy efficiency. Pollutants, such as nitrogen oxides, sulfur oxides, and particulate matter, are major concerns in gas engine operations. To address these concerns, advanced combustion processes, emissions control technologies, and greenhouse gas regulations are crucial. Renewable energy sources, including solar, wind, natural gas reserves, biogas, syngas, hydrogen, and synthetic natural gas, are increasingly integrated into modern power infrastructure for resilient and sustainable power generation.
Get a glance at the market share of various segments Request Free Sample
The Power generation segment was valued at USD 832.70 million in 2018 and showed a gradual increase during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for efficient heat and power generation is the key driver of the market.
Shift from conventional coal-fired to gas-fired power plants is the upcoming trend In the market.
Presence of close substitutes is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a significant sector with the broader energy industry, encompassing various applications in utilities, manufacturing, and transportation sectors. Gas engines, which convert chemical energy from gaseous fuels into mechanical power, play a crucial role in power generation and industrial processes. Gas engine technology continues to evolve, with a focus on fuel efficiency and emissions reduction. Combustion processes have been optimized to minimize pollutants such as nitrogen oxides, sulfur oxides, and particulate matter, contributing to improved air quality and environmental sustainability. Natural gas, coal, and renewable energy sources like solar, wind, biogas, syngas, hydrogen, and others are the primary fuel sources for gas engines.
Moreover, the natural gas reserves in North America provide a stable and abundant fuel source for this market. The special gas segment, including biogas, syngas, and hydrogen, is gaining traction due to its potential as a sustainable energy source. Renewable gases offer several advantages, including reduced greenhouse gas emissions and improved environmental sustainability. Power output from gas engines ranges from small-scale applications to large-scale power generation plants and utilities. Gas engines provide electricity to water providers and contribute to the resilient power infrastructure of modern power grids. Gas engines are used in various industries, including utilities, manufacturing, transportation, and marine applications.
Furthermore, in the automotive sector, there is a growing trend towards carbon emission reduction and the adoption of sustainable energy sources for backup power solutions. Cogeneration plants and power generation facilities utilize gas engines for decentralized and distributed power generation, providing an alternative to traditional centralized power generation systems. CHP applications offer increased efficiency and reduced emissions, making them an attractive option for industries seeking to reduce their carbon footprint. Gas engine technology is continually evolving to meet the demands of various industries and environmental regulations. Emissions control systems, such as nitrification and oxidation processes, are being integrated into gas engines to minimize emissions and improve overall efficiency.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 365.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.2 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this market research report to meet your requirements Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.