A quick comparison between natural gas engines and gasoline-fueled engines reveals that the latter is a high-torque and lightweight engine and runs for perhaps 4,000 hours before it breaks down completely. On the other hand, a natural gas engine is meant for heavy-duty industrial applications. A natural gas engine can even function constantly under full-load conditions for more than 8,000 hours per year. Natural gas engines are therefore conclusively more powerful and also present the benefit of using a relatively less expensive fuel source that will not hurt the environment as much as other nonrenewable sources. This, along with numerous other solid reasons, is responsible for propelling the global natural gas compressors, natural gas engines, gas turbines, and centrifugal gas compressors market in Asia and MEA at very high rates.
Natural Gas Engines Market Growing at 25.20% CAGR in Asia and MEA
Natural Gas Engines Market Growing at 25.20% CAGR in Asia and MEA
The market for natural gas engines in the regions of Asia and the Middle East and Africa is envisioned to exhibit a staggering 25.20% CAGR from 2015 to 2022. This rapid growth rate can be increasingly visible as time progresses. This market was valued at US$283.6 mn in 2013 and is expected to take a massive leap to US$2.1 bn by the end of 2022. From a volume perspective, natural gas engine shipments for 2013 were 23,893 units. In 2013, Kazakhstan was noted as the largest revenue holder in the Asia and MEA regional market for natural gas engines. The nation’s natural gas engine market alone was valued at US$27.7 mn.
Browse Research Report: http://www.transparencymarketresearch.com/asia-mea-natural-gas-compressors.html
The Asia and MEA gas turbines market is expected to progress at a CAGR of 8.90% from 2015 to 2022. The market was valued at US$6.6 bn in 2013, and will reach US$11.1 bn by 2022. Gas turbines are being given a high level of preference by consumers from Asia and MEA, especially in co-generation plants and combined cycle plants. The regional leader in the Asia and MEA gas turbines market for 2013 was Algeria. Both Algeria and Nigeria are currently showing rapid rates of growth in terms of revenue generated and unit shipments in the gas turbine market.
Siemens, GE, Mitsubishi among Leaders in Global Market
The market is largely controlled by the key players in the global natural gas compressors, natural gas engines, gas turbines, and centrifugal gas compressors market. The names prominent for their achievements in the market for gas turbines are Siemens, General Electric, and Mitsubishi Hitachi Power, Inc. As for natural gas processors, the top companies are Dresser-Rand Group, Inc., Ingersoll-Rand, and General Electric. The gas engines sector is dominated by General Electric, Caterpillar, Inc., Weichai Westport, Inc., Westport Power, Inc., Cummins Westport, Inc., and Cummins, Inc.
How is Adopting Natural Gas as Fuel Affecting Global Growth?
The companies that operate in the markets of natural gas compressors, natural gas engines, gas turbines, and centrifugal gas compressors are currently in a consolidation phase, with larger companies buying out or collaborating with the others. For instance, two major acquisitions of 2014 were performed by Siemens AG, which took over Rolls-Royce’s aero-derivative gas turbine and compressor business. Siemens later acquired Dresser-Rand Group, Inc., further strengthening its position in the market.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/asia-mea-natural-gas-compressors.htm
Meanwhile, Nebraska plans to open up natural gas fuel stations, giving natural-gas-powered vehicles positive signs of traveling longer distances through Nebraska. The situation is quite similar in other parts of the world as well. More nations are adopting natural gas as a fuel for multiple purposes, significantly reducing the load on other fuel sources such as coal and oil.
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