Report : Middle East and Africa Gas Engine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Fuel Type (Natural Gas, and Special Gas), Power Output (100 - 300 kW, 300-500kW, 0.5â€“ 1 MW, 1â€“2 MW, 2â€“5 MW, 5â€“10 MW, and 10â€“20 MW), End-User (Remote, Mid-Stream Oil and Gas, Heavy Industries, Light Manufacturing, Utilities, Biogas, Datacenters, MUSH, and Commercial)
Natural Gas Segment has the Largest Share of Fuel Type in the Middle East & Africa Gas Engine Market during 2021–2028
According to our latest study on “Middle East & Africa Gas Engine Market Forecast to 2028 – COVID-19 Impact and Analysis – by Fuel Type, Power Output, and End-User,” the market is projected to reach US$ 618.9 million by 2028 from US$ 375.0 million in 2021; it is expected to grow at a CAGR of 7.4% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as increasing focus on development of efficient fuel engines and rise in production of natural gas. However, escalating popularity of renewable energy alternatives and technological drawbacks in several countries critically impacts the growth of the market.
While the COVID-19 pandemic, as well as historically low oil prices, are disrupting the political economy of the Gulf, the pandemic has proved the region’s tech pliability. The outbreak of the COVID-19 pandemic has undoubtedly been the major test of the Gulf’s industrialization initiative. However, the region has demonstrated to have increased focus on industrialization. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the coronavirus outbreak. Further, the Middle East economy is projected to notice a pickup in the second half of 2020, after both demand and supply-side disruptions disappear.
Based on fuel type, the natural gas segment is expected to register the largest market share during the forecast period. Moreover, the same segment is estimated to register the highest CAGR during the forecast period. In 2021, fossil fuel combustion is the largest contributor to the Middle East & Africa air pollution, which is creating negative effects on the natural environment. To reduce the consumption of fossil fuels and pollution, rapid R&D activities are being carried out, owing to which the importance of natural gases has increased. Natural gases are emerging as a promising solution to reduce diesel and petrol consumption. Stringent emission standards, Middle East & Africa warming, and increasing CO2 legislation are the prominent factors increasing the adoption of natural gas engines. The rich mixture of hydrocarbons in natural gases and easy availability in almost every nation due to strong penetration is augmenting the segment growth. The benefits of the natural gas are low emission, clean burning, and lower cost than fossil fuels.
Caterpillar Inc.; Cummins Inc.; Kawasaki Heavy Industries, Ltd.; Liebherr; MAN SE; Mitsubishi Heavy Industries, Ltd.; Wärtsilä Corporation; MTU (Rolls-Royce Power Systems AG); R Schmitt Enertec GmbH; and 2G ENERGY AG are among the leading companies in the Middle East & Africa gas engine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for gas engine market is segmented into fuel type, power output, and end-user. Based on fuel type, the Middle East & Africa gas engine market is segmented into natural gas and special gas. Based on power output, the gas engine market is segmented into100–300 kW, 300–500kW, 0.5–1 MW, 1–2 MW, 2–5 MW, 5–10 MW, and 10–20 MW. Based on end-user, the gas engine market is segmented into remote power generation, midstream oil and gas, heavy industries, light manufacturing, utilities, biogas, datacenters, MUSH, and commercial. The gas engine market for the remote power generation segment is further segmented into drilling, mining, and others. Similarly, the market for the heavy industries segment is sub segmented into chemicals, paper, metals, food and beverages, and others. The gas engine market for the utilities segment is further segmented into a grid, IPP, and others. Geographically, the gas engine market is segmented into Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of Middle East & Africa).
Contact Person: Sameer Joshi
Email Id: email@example.com