Asia Pacific Gas Engines Market Forecast 2018-2026
The Asia-Pacific gas engine market was calculated to be worth $xx million in 2017 and is expected to reach $xx million by the end of the forecast period of 2018-2026, growing at a CAGR of 11.38%. Thus, it is safe to say that the market has the potential to show the fastest growth rate over the forecast period.
The declining cost of natural gas, rising electricity demand, and the increased utilization of natural gas throughout the region are the key drivers for the Asia-Pacific region. The gas engine market segmentation is done on the basis of the following criteria: Application (power generation, co-generation, etc). The power generation dominates the application segment by accounting for more than xx% of the market share; Power (0.5 MW-1.0 MW, 1.0 MW-2.0 MW, 2.0 MW-5.0 MW, 5.0 MW-10.0 MW, 10.0 MW-20.0 MW); Fuel type (natural gas, special gas, etc) and End-users (oil & gas, manufacturing, utilities). At present, China is dominating the Asia-Pacific market scene and the Indian market is considered to be the fastest growing market for the region.
Mitsubishi Heavy Industries Ltd, Hyundai Heavy Industries Co, Yanmar Co., Ltd, Rolls-Royce Holdings Plc, China Yuchai International Limited., Man Se, Ihi Corporation, General Electric Company, etc are some of the major companies in the Asia-Pacific gas engine market.