Market Introduction
This research report on the “South & Central America Gas Engine Market” provides a holistic view of the market size across South & Central America. 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.
Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, Ecuador, and Argentina, among others. SAM governments have taken an array of actions to protect its citizens and contain COVID-19’s spread and therefore imposed lockdowns to restrict social distancing. The lockdown has resulted in the closure of organizations temporarily in the region to control the spread of the virus. It is anticipated that SAM will require lesser electricity. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter and is expected to rebound once the pandemic is contained.
Market Overview and Dynamics
The South & Central America gas engine market is expected to reach US$ 239.6 million by 2028 from US$ 181.1 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021–2028. The electric power, automotive, manufacturing, and transportation industries, among others, in developing countries are highly dependent on fossil fuels. Rise in population and the lack of supporting infrastructure for electric technologies are the major factors supporting the gas engine market. Electric motors, electric devices, solar plants, and wind projects are more expensive than gas engines, which is driving the preference of various countries toward gas engines as an environment-friendly solution. Further, improvements in the emission norms for diesel engines for which various industries are shifting on gas engines for low emissions. The demand for natural gas is increasing in developing countries due to the rising popularity of low-emission fuels. The developing of developing countries on fossil fuels and gas engines is providing a strong growth opportunity for the gas engine market players.
Key Market Segments
In terms of fuel type, the natural gas segment accounted for the largest share of the South & Central America gas engine market in 2020. In terms of power output, the 300-500 kW segment accounted for the largest share of the South & Central America gas engine market in 2020. In terms of end-user, the heavy industries segment accounted for the largest share of the South & Central America 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 South & Central America 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); and 2G ENERGY AG.
Reasons to Buy Report
SOUTH & CENTRAL AMERICA GAS ENGINE MARKET SEGMENTATION
By Fuel Type
By Power Output
By End-User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 181.1 Million |
| Market Size by 2028 | US$ 239.6 Million |
| CAGR (2021 - 2028) | 4.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Fuel Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Gas Engine Market is valued at US$ 181.1 Million in 2021, it is projected to reach US$ 239.6 Million by 2028.
As per our report South and Central America Gas Engine Market, the market size is valued at US$ 181.1 Million in 2021, projecting it to reach US$ 239.6 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
The South and Central America 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 South and Central America Gas Engine Market report:
The South and Central America Gas Engine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Gas Engine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Gas Engine Market value chain can benefit from the information contained in a comprehensive market report.
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