Reciprocating Power Generating Engine Market Size, By Fuel Type (Gas-fired, Diesel-fired, Dual fuel), By Rated Power (0.5 MW - 1 MW, > 1 MW - 2 MW, > 2 MW - 3.5 MW, > 3.5 MW - 5 MW, > 5 MW - 7.5 MW, > 7.5 MW), By Application (Industrial, CHP, Energy & Utility, Landfill & Biogas), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share, & Forecast, 2020 - 2026
Reciprocating power generating engine market is projected to register a substantial growth rate over the coming years owing to technological advancements and rapid urban development across the world. A reciprocating power generating engine is a heat engine using one or more reciprocating pistons in order to transform pressure into a rotating or circular motion.
There are mainly three types of reciprocating power generating engines, namely steam engine, Stirling engine, and combustion engine. These engines also play a major role in improving efficiency on the central power grid.
Reciprocating power generating engines could also lower the peak demand placed on the grid by generating power temporarily for a group of customers or an individual electric customer. This lets the customers eliminate or reduce their dependency on the grid when it is under strain, usually during a hot summer day, a period when grid power is apt to be less reliable as well as highly costly.
These engines are also used in CHP (combined heat and power) plants. CHP, being highly efficient, channels the engine’s exhaust heat as a byproduct for useful purposes, like cooling and heating buildings.
The heat would otherwise drift into the atmosphere wasted. Since CHP uses one fuel for two purposes, that is generating both heat and electricity it is considered not only an energy efficiency play, but also a way to eliminate carbon dioxide emissions.
The reciprocating power generating engine market is segmented in terms of fuel, rated power, application, and regional landscape.
Based on fuel, the market is bifurcated into duel fuel, gas-fired, diesel-fired, and others. Among these, growing demand for clean and reliable electricity owing to industrial expansion & development of infrastructure will stimulate the product demand for duel fuel. The others fuel segment will observe increasing demand for backup power along with favorable regulatory policies toward sustainable fuel use, thereby stimulating the industry growth.
With respect to rated power, the market is bifurcated into 0.5 MW-1 MW, >1 MW – 2 MW, >2 MW-3.5 MW, >3.5 MW-5 MW, >5 MW-7.5 MW, and > 7.5 MW. It is observed that in the >2 MW-3.5 MW rated power segment, increasing demand for electricity across data centers, commercial complexes and small industrial units will positively influence the business outlook. Rapid urban area development along with surging investments toward electrification of off-grid and remote areas will fuel the > 7.5 MW rated power segment.
Based on application, the market is classified into industrial, landfill & biogas, CHP, energy & utility, and others. Rapid development of indigenous power plants across the industrial establishments will fuel the industry growth.
From a regional frame of reference, Middle East & Africa reciprocating power generating engine market will observe increasing investments toward industrial infrastructure including oil & gas, process and manufacturing sectors along with rapid development of electrical network, which would likely propel industry growth.
Elevating economic development and growing urbanization along with increasing demand for smart power generation technologies across Latin America will propel the industry growth in the region.
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