Asia Pacific Gas Engine Market

Market Introduction

This research report on the “Asia Pacific Gas Engine Market” provides a holistic view of the market size across Asia Pacific. The report further elucidates the key driving factors, restraints, growth opportunities, and future trends pertaining to the market growth.

Moreover, the increasing focus on development of efficient fuel engines to boost the market growth is driving the market’s growth. However, escalating popularity of renewable energy alternatives and technological drawbacks in several countries critically impacts the growth of the market.

The government of APAC countries took all possible steps to reduce the effects of the coronavirus pandemic by announcing lockdown. The lockdown has created a negative impact on the gas engines market. In addition, Asia is a house of many manufacturing plants, also got affected due to lockdown. The step disrupted the production and supply of components overseas. Factory activity contracted sharply across most of the region in April as the coronavirus pandemic paralyzed economic activity globally, with sharp falls in export from countries such as Japan and South Korea overshadowing a moderate enhancement in China. While factories in China slowly resumed operations after extended shutdowns and a reduction in virus cases enabled the country to enhance natural gas production as normal level, activity in South Korea contracted at its fastest pace in 11 years as several of the country’s trading partners imposed dramatic actions to control the virus’ spread. Also, the power generation sector has been impacted significantly across the region. Such factors have negatively impacted the gas engines market in APAC.

Market Overview and Dynamics

The Asia Pacific gas engine market is expected to reach US$ 1,986.4 million by 2028 from US$ 1,162.3 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021–2028. Gas engines are less expensive, environmentally friendly, reliable, and efficient than engines based on other fuel sources, which is propelling their demand. High use in applications such as heating, electricity generation, and vehicle functioning is bolstering the demand for natural gas engines. Due to the COVID-19 situation, a large number of populations are working from home, virtually attending school from home, and enjoying entertainment at home. Hence, to provide a solution for unexpected power outages, the utility service providers are using gas generators to handle peak loads. Thus, continuous surge in demand from developing and developed countries is one of the key factors driving Asia Pacific gas engine market growth.

Key Market Segments

In terms of fuel type, the natural gas segment accounted for the largest share of the Asia Pacific gas engine market in 2020. In terms of power output, the 300-500 kW segment accounted for the largest share of the Asia Pacific gas engine market in 2020. In terms of end-user, the heavy industries segment accounted for the largest share of the Asia Pacific gas engine market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the gas engine market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Caterpillar Inc.; Cummins Inc.; Fairbanks Morse, LLC; 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.

Reasons to Buy Report

• To understand the Asia Pacific gas engine market landscape and identify market segments that are likely to guarantee a strong return
• To comprehend the ever-changing market landscape and stay ahead in competition
• To efficiently plan merger and acquisition, and partnership deals in the Asia Pacific gas engine market by identifying segments with the most promising probable sales
• To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
• To obtain market revenue forecast of the Asia Pacific gas engine market based on various segments for the period 2021–2028

ASIA PACIFIC GAS ENGINE MARKET SEGMENTATION

By Fuel Type

• Natural Gas
• Special Gas

By Power Output

• 100-300 kW
• 300 - 500 kW
• 0.5-1 MW
• 1-2 MW
• 2-5 MW
• 5-10 MW
• 10-20 MW

By End-User

• Remote

1. Mining
2. Drilling
3. Others

• Mid-Stream Oil & Gas
• Heavy Industries

1. Chemicals
2. Paper
3. Metals
4. Food and Beverages
5. Others

• Light Manufacturing
• Utilities

1. Grid
2. IPP
3. Others

• Biogas
• Datacenters
• MUSH
• Commercial

By Country

• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Companies Mentioned

• Caterpillar Inc.
• Cummins Inc.
• Fairbanks Morse, LLC
• Kawasaki Heavy Industries, Ltd.
• Liebherr; MAN SE
• Mitsubishi Heavy Industries, Ltd.
• Wärtsilä Corporation
• MTU (Rolls-Royce Power Systems AG)
• 2G ENERGY AG            
•     R Schmitt Enertec GmbH

Asia Pacific Gas Engine Market Strategic Insights

Asia Pacific Gas Engine Market Segmentation Analysis

Asia Pacific Gas Engine Market Report Highlights

Asia Pacific Gas Engine Report Scope

Asia Pacific Gas Engine Market Country and Regional Insights