The Gas Engines Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Gas Engines Market?
The market size for gas engines has seen robust growth of late. The market worth was $5.19 billion in 2024 and it is anticipated to reach $5.46 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Gas Engines Industry?
The gas engines market is projected to expand to a value of $6.8 billion by the year 2029. This growth equates to a compound annual growth rate (CAGR) of 5.6%.
Download Your Free Sample of the 2025 Gas Engines Market Report and Uncover Key Trends Now!
What are the Key Growth Drivers Fueling the Gas Engines Market?
The key drivers in the gas engines market are:
• Transitioning to renewable energy sources
• Increased focus on distributed generation
• Greater emphasis on rural electrification
• The use of cogeneration in commercial buildings
Global Market Segmentation: Identifying Major Gas Engines Industry Segments
The gas engines market covered in this report is segmented –
1) By Fuel Type: Natural Gas, Special Gas, Other Fuel Type
2) By Power Output: 1-2 MW, 2-5 MW, 5-15 MW, Above 15 MW
3) By Application: Power Generation, Mechanical Drive, Cogenerations, Other Applications
4) By End User: Utilities, Marine, Oil And Gas, Manufacturing, Other End Users
Pre-order the 2025 Gas Engines Global Market Report for Fast Delivery & Comprehensive Insights!
What are the Emerging Trends Shaping the Future of the Gas Engines Market?
The key trends in the gas engines market are:
• The market is set to see significant transitions towards renewable energy sources.
• Digitalization and smart controls are becoming prevalent in the gas engines sectors.
• The adaptation of emissions reduction technologies is a rising trend.
• The development of LNG-powered and hydrogen-powered gas engines is a notable emerging trend.
Who Are the Top Competitors & Leading Players in the Gas Engines Market?
Major companies in the gas engines market are:
• Caterpillar Inc.
• Cummins Inc.
• Wartsila Oyj Abp
• Mitsubishi Heavy Industries Ltd.
• Hyundai Heavy Industries Co. Ltd.
• Maschinenfabrik Augsburg-Nürnberg AG
• General Electric Company
• Kawasaki Heavy Industries Ltd.
• Liebherr-International AG
• Kohler Co.
• Yanmar Co. Ltd.
• Perkins Engines Company Limited
• Doosan Group
• INNIO Jenbacher GmbH & Co. OG
• Deutz AG
• Guascor Power
• Dresser-Rand
• Motoren- und Turbinen-Union Friedrichshafen GmbH
• Fairbanks Morse LLC
• Jinan Lvneng Power Machinery Equipment Co. Ltd.
• Ningbo C.S.I. Power & Machinery Group Co. Ltd.
• Baudouin
• CNPC Jichai Power Complex
• Googol Engine Tech Co. Ltd.
• Liquid Combustion Technology LLC
• Lombardini Srl
• Chongqing Winyou Power Co Ltd.
• Briggs & Stratton Corporation
• Honda Motor Co Ltd.
• Yamaha Motor Corporation
• KUBOTA Corporation
• Generac Power Systems Inc.
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the gas engines market in 2024
