The global natural gas engine market size was USD 5.03 Billion in 2022 and is expected to register a revenue CAGR of 5.0% during the forecast period. Rising demand for clean and efficient power generation technology is the key factor driving market revenue growth. Natural gas engines generate clean and efficient power by burning natural gas as fuel instead of diesel or gasoline, which in turn results in lower emissions of harmful pollutants such as particulate matter, Carbon Monoxide, Nitrogen oxides, and Sulfur oxides, which is driving revenue growth of the market. Moreover, natural gas engines have higher thermal efficiencies, leading to better fuel efficiency and reduce greenhouse gas emissions contributing to revenue growth of the market. For instance, cogeneration or Combined Heat and Power (CHP) systems, are natural gas engines used for on-site electricity generation in combination with heat recovery for industrial processes or building heating.
Microgrids, are natural gas engines used for distributed power generation in remote or off-grid locations. On 28 January 2022, Cummins and Werner Enterprises announced a collaboration to integrate Cummins' new 15-liter natural gas and 15-liter Hydrogen internal combustion engines in its vehicles. Cummins integrated these new powertrains into Werner trucks in the second half of 2022, beginning with the 15-liter natural gas model.
Rising demand for natural gas in the automotive sector as a result of increasing concerns over energy efficiency, cost-effectiveness, and environmental sustainability is another factor driving revenue growth of the market. Natural gas is used as a fuel source for vehicles, providing a cleaner-burning alternative to gasoline and diesel, and is less expensive than gasoline or diesel, making it a cost-effective choice for fleet operators and individual consumers, which is driving revenue growth of the market.
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The natural gas engine market is being driven by several factors, including:
- Environmental Regulations: As governments around the world implement stricter environmental regulations, natural gas engines have emerged as a cleaner alternative to diesel engines. Natural gas engines emit lower levels of pollutants such as particulate matter, nitrogen oxides, and sulfur dioxide, which makes them an attractive option for industries that are looking to reduce their environmental footprint.
- Cost Savings: Natural gas engines are generally more fuel-efficient than diesel engines, which can result in significant cost savings over time. In addition, natural gas is often less expensive than diesel fuel, which further increases the economic benefits of using natural gas engines.
- Increasing Availability of Natural Gas: The availability of natural gas has increased significantly in recent years, thanks to advances in extraction technologies such as hydraulic fracturing. This has made natural gas a more accessible and affordable fuel source for industries that rely on heavy-duty engines, such as transportation and energy production.
- Technological Advancements: Advances in natural gas engine technology, such as the use of high-pressure direct injection and turbocharging, have improved engine performance and efficiency. These advancements have made natural gas engines a more viable option for a wider range of applications.
Some Key Highlights From the Report
- The spark ignited engines segment accounted for largest revenue share in 2022. Spark-ignited engines play an essential role in the Internal Combustion Engine (ICE) industry. They are commonly found in vehicles and power generation applications. Spark-ignited engines use to generate electricity in power plants and to power various types of equipment and machinery, such as generator sets and portable power tools. They are widely used in vehicles, including cars, trucks, buses, and motorcycles, as they offer a good balance of power, efficiency, and affordability and are designed to be energy efficient and have low emissions, making them an attractive choice for a variety of applications. These factors are driving revenue growth of the segment.
- The 3,000 KW – 4,500 KW segment accounted for largest revenue share in 2022. A 3,000 KW to 4,500 KW natural gas engine plays an essential role in various industrial and commercial applications that require high power generation. These natural gas engines are used in power plants, gensets, and other types of power generation systems to provide reliable, efficient, and cost-effective power, which is driving revenue growth of the segment.
- The greenhouse operators segment accounted for largest revenue share in 2022. Natural gas engines generate electricity in greenhouses, providing a reliable and cost-effective power source. Natural gas engines are also used to provide heat for greenhouses, improving the environment and increasing crop yields. Natural gas is a cleaner-burning fuel compared to other fossil fuels, reducing greenhouse gas emissions and improving air quality and providing energy security for greenhouse operators, reducing their dependence on the electrical grid, and providing a reliable energy source.
- The market in Asia Pacific is expected to register a steadily fast revenue growth rate during the forecast period. Increasing adoption of natural gas engines in the commercial sector and rising demand for clean and efficient power generation technology, in countries such as India, China, and Japan are the key factors driving revenue growth of the market in this region. Moreover, rapid urbanization and industrialization is also driving revenue growth of the market to some extent. Rising use of distributed power generation systems is another factor driving revenue growth of the market in the region.
- On 5 August 2020, Caterpillar Inc., which is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial turbines launched a natural gas-powered generator set named Cat C32B. It is a high-performance 2,000 HP marine engine with a rated engine speed of 2,300 rpm.
Companies profiled in the global market report include:
Caterpillar Inc., Wärtsilä Oyj Abp, Rolls-Royce Holdings plc, Volkswagen, INNIO, Cummins Inc., Mitshubishi Heavy Industries, Ltd., Doosan Corporation, MAN Energy Solutions SE, Yanmar Holdings Co., Ltd.
For the purpose of this report, Reports and Data has segmented the global natural gas engine market based on engine family, power output, application, horsepower,end-use, and region:
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