About Dual Fuel Engine
Dual fuel engines make use of both natural gas and diesel or gasoline simultaneously as a fuel source to operate. Among the two types of fuel, natural gas is used the most (accounting for 90% of the overall fuel mix). Diesel merely serves as a spark plug, which ignites under pressure and, in turn, ignites the compressed gas and air mixture. Retaining the use of diesel, ensures that the fuel, its compression ratio, and associated efficiency remains intact, while the use of natural gas ensures less operating cost as well as low levels of emissions.
Technavio’s analysts forecast the global dual fuel engine market to grow at a CAGR of 6.5% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global dual fuel engine market for 2016-2020. To calculate the market size, the report considers the demand for dual fuel engines from end-user industries across the globe.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Dual Fuel Engine Market 2016-2020
Technavio recognizes the following companies as the key players in the global dual fuel engine market: Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, and Wärtsilä.
Other Prominent Vendors in the market are: ABC Diesel, Heinzmann, Hyundai, Rolls Royce, Westport, Woodward, and Yanmar.
Commenting on the report, an analyst from Technavio’s team said: “ The growing preference for liquefied natural gas (LNG) will one of the key trends in this market LNG is economically the most preferred fuel choice of the shipping industry. It is particularly more applicable for ships that sail in emission control areas (ECAs). Natural gas is set to be the most preferred fuel choice in certain environmental systems (for instance, in the Baltic Sea region) as well as in the international sea trade routes.”
According to the report, US shale gas boom will be a key driver for market growth. The US discovered additional energy reserves (shale natural gas) in the continental US in recent years. Such additions stemmed from exploration and development in the Marcellus Shale in Pennsylvania and West Virginia, the Eagle Ford Shale in Texas, the Woodford Shale in Oklahoma, and the Utica Shale in Ohio.
Further, the report states that a major challenge for the market will be the diesel engine technology gaining momentum with technological advances. Improved fuel economy continues to be the most significant progress in diesel engine technology. Although many end-users prefer gasoline-powered equipment, diesel engines possess a solid end-user base in terms of the industrial sector as this sector considers fuel economy as an important parameter in owning a power backup equipment. Over the years, several initiatives and changes have been implemented to improve the overall efficiency of the diesel engine. Most of the modifications involved igniting power within the engine itself, derived from the combination of oxygen and fuel.
Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, Wärtsilä, ABC Diesel, Heinzmann, Hyundai, Rolls Royce, Westport, Woodward, Yanmar.