Market Size of Gas Engine Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 5.91 Billion |
| Market Size (2029) | USD 7.81 Billion |
| CAGR (2024 - 2029) | 5.74 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gas Engine Market Analysis
The Gas Engine Market size is estimated at USD 5.91 billion in 2024, and is expected to reach USD 7.81 billion by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).
- Over the medium term, the gas engine market is largely driven by high natural gas supply at the global level and the demand for the emissions-free fuel system in the power generation and automotive sector.
- On the other hand, the thriving future of gas engines is thwarted by the growing inclination towards renewable sources of energy.
- Nevertheless, the technical advancements to produce the better versions of gas engines create ample opportunities for market development. Recently, the German company MAN Energy Solutions Engines introduced a new MAN E3872 gas-engine series for the first time at Biogas Convention & Trade Fair in Nuremberg. It is designed as a four-stroke spark-ignition gas engine with a displacement of 29.6 liters, a bore of 138mm, and a stroke of 165mm. It has 44% greater efficiency from just 12 cylinders.
