According to the report analysis, ‘Global Natural Gas Engine Market’ states that the global Natural Gas Engine Market is expected to reach a CAGR of 7.3% in the forecast period of 2019 to 2026. Whereas, the Natural gas has been utilized as an efficient vehicle fuel since the 1920s. The foremost improvement of the natural gas was seen during the oil shocks in 1974 and 1979. The Natural gas has become the most auspicious energy cause able of identical the energy compactness and combustion-related subjects in the engine. The Natural gas is also a foremost candidate for the transportation vehicles in many regions majorly owing to its wide abundance, its price, inferior emission rates, and suitability of usage in conventional diesel and gasoline engines. Actually, the natural-gas combustion process the bottommost greenhouse-gas emissions of fossil fuels, together with a negligible level of adjourned particles. Therefore, the natural gas attained the great recognition for fueling vehicles in the present years, and this is likely to increase in the near years.
Moreover, the players in global natural gas engine market are predicted to develop the current view and targeting the end users for increasing the demand and developing the fueling infrastructure. The report also suggests that in the market of natural gas engine there are numerous key players which working for leading the fastest market growth and registering the high value of market share across the globe throughout the short span of time while increasing the natural fossil fuel reserves which further benefitted for increasing the import cost and making the efficient advancement in the marine application for leading to the efficient power generation includes Cummins Inc., Siemens, Caterpillar, MITSUBISHI HEAVY INDUSTRIES LTD., INNIO, Doosan Corporation, DEUTZ AG, Wartsila, GPI, YANMAR CO. LTD., Kawasaki Heavy Industries Ltd., Rolls-Royce plc, MAN SE, Liebherr, Niigata Power Systems Co. Ltd., JFE Engineering Corporation, Westport and several others.
Furthermore, owing to an augment in the pollution from the automotive vehicles in succession on conventional liquid fuels, the substitutive fuels that could result in comparable performance became probable candidates to be utilized as the alternatives in short and long-term plans. In the near future, the substitutive fuels are predicted to substitute the conventional fuels regarding to the environmental and energy security issues. Meanwhile, the coming trend in the sector of transportation is disposing toward the electric vehicles, an increase jump is improbable owing to the prevailing infrastructure and resources. There is a requirement for an alternative transitional fuel that can central toward the 21st century motivations of the zero-carbon emission. Hence, the natural gas has developed as the significant candidate to fill up the gap in recent trends.
Although, based on the application, the market is sectored into Natural Gas Gensets, Natural Gas Automotive, and Decentralized Energy Generation whereas, natural gas automotive segment is growing at the highest CAGR due to increased sales in vehicles and automotive industry. Therefore, the market of natural gas engine market will increase across the globe during the forecasted period over the reviewed period more positively.
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Ankur Gupta, Head Marketing & Communications