Asia Pacific Gas Engine Market to Grow at a CAGR of 8.0% to reach US$ 1,986.4 million from 2021 to 2028

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.

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. According to The World Bank Group data for access to electricity, only ~91.6% of the population has access to electricity in South Asia, while others are still lack access to electricity. Hence, south Asian countries are strongly adopting natural gas for power generation application. Further, electricity consumption for basic applications in countries such as China and India are increasing with the surge in population, owing to which they are opting for gas engines for electricity generation.

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.

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 Asia Pacific gas engine market is expected to grow at a good CAGR during the forecast period.

Asia Pacific Gas Engine Market Revenue and Forecast to 2028 (US$ Million)

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
  • Mining
  • Drilling
  • Others

• Mid-Stream Oil & Gas
• Heavy Industries

• • Chemicals
  • Paper
  • Metals
  • Food and Beverages
  • Others

• Light Manufacturing
• Utilities

• • Grid
  • IPP
  • 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.
• 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
• MAN SE

Asia Pacific Gas Engine Market Report Scope

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