Large and medium-sized enterprises are shifting toward distributed power generation practices to control costs by producing their own power. Companies are already adopting gas engines for power backup or additional power needs, while the advent of distributed gas generation is emerging as a key trend in the gas engine market. Mobile power generation solutions, independent power grids, and remote electricity generation are among the key benefits enabled by this trend. The distributed gas generation also allows setting up on-site combined heat and power (CHP) plants, which is driving the sales of gas engines. The gas engine market players are developing advanced solutions for the industrial power generation applications. The gas engine market players are developing advanced solutions for the industrial power generation applications. Such developments are fueling the market’s growth.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the gas engine market. The Middle East & Africa gas engine market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 375.0 Million |
| Market Size by 2028 | US$ 618.9 Million |
| CAGR (2021 - 2028) | 7.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Fuel Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Gas Engine Market is valued at US$ 375.0 Million in 2021, it is projected to reach US$ 618.9 Million by 2028.
As per our report Middle East and Africa Gas Engine Market, the market size is valued at US$ 375.0 Million in 2021, projecting it to reach US$ 618.9 Million by 2028. This translates to a CAGR of approximately 7.4% during the forecast period.
The Middle East and Africa Gas Engine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Gas Engine Market report:
The Middle East and Africa Gas Engine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Gas Engine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Gas Engine Market value chain can benefit from the information contained in a comprehensive market report.
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