Market Snapshot
The gas engines market revenue stood at a high valuation until the beginning of 2020, although sluggish growth in the global automotive sector a year prior somewhat stunted demand. This downswing prevailed through most of 2020, thanks to COVID-19.
Fact.MR- a market research and competitive intelligence provider- thus projects a moderate growth path for 2021, eventually becoming stronger across the decade. Continued reliance on conventional energy resources for various industries, including power generation and automotive, will propel expansion.
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How are Acquisitions and Partnerships Aiding Growth of Gas Engines Demand?
In February 2021, TMH International announced plans to acquire the Bergen Engines medium-speed gas and diesel engines business from Rolls-Royce, located in Bergen, Norway.
The transaction is worth EUR 150 million, and it includes the sale of a factory, workshop, and foundry in Norway, as well as engine and power plant design capabilities and a global service network across seven countries.
Likewise, in May 2021, Clarke and Innio Jenbacher installed a gas engine to power a pasta factory in Douala, Cameroon. Fuelled by natural gas, the J320 engine provides reliable, onsite power to the facility.
A combined heat and power project (CHP) will be developed in two phases. A containerized module that has a nominal output of 1067 kW was installed and commissioned as part of the first phase.
Clarke Energy reported that this project was a major milestone, following the successful completion of two similar projects in Cameroon.
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Key Segmentation
The global market can be segmented on the basis of fuel type, power output, end-user, and by application.
- According to fuel type, the market can be segmented as:
- According to power output, the market can be segmented as
- According to end-user, the market can be segmented as
- Utilities
- Manufacturing
- Oil & Gas Applications
- According to application, the market can be segmented as
- Power generation
- Co-generation
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Key Manufacturers
The global market appears to be a bit fragmented in nature, as many manufacturers are involved in the production of gas engines.
In many of the developed economies the prominent market players are actively engaged for the launching energy efficient gas engines some of them are-
- Caterpillar Inc.
- Cummins Inc.
- Doosan Infracore General Electric Company.
- Kawasaki Heavy Industries
- Hyundai Heavy Industries Co. Ltd.
- Mitsubishi Heavy Industries
- Wartsila Corporation
- Perkins Engines
- Cummins Corporation
- Liebherr Group
- Waukesha Engine
- Deutz AG.
For More Insights- https://www.einpresswire.com/article/556609507/hand-dynamometers-shall-capture-2-5th-of-the-push-pull-dynamometer-market-across-the-forecast-period
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