LNG engine is the engine that uses bunker fuel and natural gas to convert chemical energy into mechanical energy. Increasing demand for eco-friendly and reliable fuel, thereby raising demand for LNG engines in power generation and marine sectors, this factor is likely to propel the growth of the LNG engine market. Furthermore, the growing global voyage trade along with the rise in the trend of decarbonizing maritime transport also influences the demand for the LNG engine market.
MARKET DYNAMICS
Strict government regulations to control seaborne emission including NOx and Sox coupled with the shifting trend toward clean fuel are booming the growth of the LNG engine market. Moreover, the growing tourism industry is resulting in the rising demand for cruise, ferries, and commercial vessels including cargo, fast ferries, and passengers are expected to fuel the demand for the LNG engine market over the forecast period.
MARKET SCOPE
The "Global LNG Engine Market Analysis to 2031" is a specialized and in-depth study of the LNG engine industry with a special focus on the global market trend analysis. The report aims to provide an overview LNG engine market with detailed market segmentation as type, end use, and geography. The global LNG engine market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading LNG engine market players and offers key trends and opportunities in the LNG engine market.
MARKET SEGMENTATION
The global LNG engine market is segmented on the basis of type, end use. On the basis of type the market is segmented as spark-ignited, diesel-ignited, direct gas injection. On the basis of end use the market is segmented as marine, power generation.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global LNG engine market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The LNG engine market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting LNG engine market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the LNG engine market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global LNG engine market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The LNG engine market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting LNG engine market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the LNG engine market in these regions.
MARKET PLAYERS
The reports cover key developments in the LNG engine market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from LNG engine market are anticipated to lucrative growth opportunities in the future with the rising demand for LNG engine in the global market. Below mentioned is the list of few companies engaged in the LNG engine market.
The report also includes the profiles of key LNG engine companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Anglo Belgian Corporation nv
- Caterpillar Inc.
- Cummins Inc.
- Fairbanks Morse
- HHI Engine & Machinery
- MAN Energy Solutions
- Mitsubishi Heavy Industries, Ltd.
- Rolls-Royce plc
- Scania AB
- Wärtsilä Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1LNG Engine Market - By Type
1.3.2LNG Engine Market - By End Use
1.3.3LNG Engine Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.LNG ENGINE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.LNG ENGINE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.LNG ENGINE MARKET - GLOBAL MARKET ANALYSIS
6.1.LNG ENGINE - GLOBAL MARKET OVERVIEW
6.2.LNG ENGINE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.LNG ENGINE MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.SPARK-IGNITED
7.3.1.Overview
7.3.2.Spark-ignited Market Forecast and Analysis
7.4.DIESEL-IGNITED
7.4.1.Overview
7.4.2.Diesel-ignited Market Forecast and Analysis
7.5.DIRECT GAS INJECTION
7.5.1.Overview
7.5.2.Direct Gas Injection Market Forecast and Analysis
8.LNG ENGINE MARKET - REVENUE AND FORECASTS TO 2028 â" END USE
8.1.OVERVIEW
8.2.END USE MARKET FORECASTS AND ANALYSIS
8.3.MARINE
8.3.1.Overview
8.3.2.Marine Market Forecast and Analysis
8.4.POWER GENERATION
8.4.1.Overview
8.4.2.Power Generation Market Forecast and Analysis
9.LNG ENGINE MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America LNG Engine Market Overview
9.1.2North America LNG Engine Market Forecasts and Analysis
9.1.3North America LNG Engine Market Forecasts and Analysis - By Type
9.1.4North America LNG Engine Market Forecasts and Analysis - By End Use
9.1.5North America LNG Engine Market Forecasts and Analysis - By Countries
9.1.5.1United States LNG Engine Market
9.1.5.1.1United States LNG Engine Market by Type
9.1.5.1.2United States LNG Engine Market by End Use
9.1.5.2Canada LNG Engine Market
9.1.5.2.1Canada LNG Engine Market by Type
9.1.5.2.2Canada LNG Engine Market by End Use
9.1.5.3Mexico LNG Engine Market
9.1.5.3.1Mexico LNG Engine Market by Type
9.1.5.3.2Mexico LNG Engine Market by End Use
9.2.EUROPE
9.2.1Europe LNG Engine Market Overview
9.2.2Europe LNG Engine Market Forecasts and Analysis
9.2.3Europe LNG Engine Market Forecasts and Analysis - By Type
9.2.4Europe LNG Engine Market Forecasts and Analysis - By End Use
9.2.5Europe LNG Engine Market Forecasts and Analysis - By Countries
9.2.5.1Germany LNG Engine Market
9.2.5.1.1Germany LNG Engine Market by Type
9.2.5.1.2Germany LNG Engine Market by End Use
9.2.5.2France LNG Engine Market
9.2.5.2.1France LNG Engine Market by Type
9.2.5.2.2France LNG Engine Market by End Use
9.2.5.3Italy LNG Engine Market
9.2.5.3.1Italy LNG Engine Market by Type
9.2.5.3.2Italy LNG Engine Market by End Use
9.2.5.4United Kingdom LNG Engine Market
9.2.5.4.1United Kingdom LNG Engine Market by Type
9.2.5.4.2United Kingdom LNG Engine Market by End Use
9.2.5.5Russia LNG Engine Market
9.2.5.5.1Russia LNG Engine Market by Type
9.2.5.5.2Russia LNG Engine Market by End Use
9.2.5.6Rest of Europe LNG Engine Market
9.2.5.6.1Rest of Europe LNG Engine Market by Type
9.2.5.6.2Rest of Europe LNG Engine Market by End Use
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific LNG Engine Market Overview
9.3.2Asia-Pacific LNG Engine Market Forecasts and Analysis
9.3.3Asia-Pacific LNG Engine Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific LNG Engine Market Forecasts and Analysis - By End Use
9.3.5Asia-Pacific LNG Engine Market Forecasts and Analysis - By Countries
9.3.5.1Australia LNG Engine Market
9.3.5.1.1Australia LNG Engine Market by Type
9.3.5.1.2Australia LNG Engine Market by End Use
9.3.5.2China LNG Engine Market
9.3.5.2.1China LNG Engine Market by Type
9.3.5.2.2China LNG Engine Market by End Use
9.3.5.3India LNG Engine Market
9.3.5.3.1India LNG Engine Market by Type
9.3.5.3.2India LNG Engine Market by End Use
9.3.5.4Japan LNG Engine Market
9.3.5.4.1Japan LNG Engine Market by Type
9.3.5.4.2Japan LNG Engine Market by End Use
9.3.5.5South Korea LNG Engine Market
9.3.5.5.1South Korea LNG Engine Market by Type
9.3.5.5.2South Korea LNG Engine Market by End Use
9.3.5.6Rest of Asia-Pacific LNG Engine Market
9.3.5.6.1Rest of Asia-Pacific LNG Engine Market by Type
9.3.5.6.2Rest of Asia-Pacific LNG Engine Market by End Use
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa LNG Engine Market Overview
9.4.2Middle East and Africa LNG Engine Market Forecasts and Analysis
9.4.3Middle East and Africa LNG Engine Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa LNG Engine Market Forecasts and Analysis - By End Use
9.4.5Middle East and Africa LNG Engine Market Forecasts and Analysis - By Countries
9.4.5.1South Africa LNG Engine Market
9.4.5.1.1South Africa LNG Engine Market by Type
9.4.5.1.2South Africa LNG Engine Market by End Use
9.4.5.2Saudi Arabia LNG Engine Market
9.4.5.2.1Saudi Arabia LNG Engine Market by Type
9.4.5.2.2Saudi Arabia LNG Engine Market by End Use
9.4.5.3U.A.E LNG Engine Market
9.4.5.3.1U.A.E LNG Engine Market by Type
9.4.5.3.2U.A.E LNG Engine Market by End Use
9.4.5.4Rest of Middle East and Africa LNG Engine Market
9.4.5.4.1Rest of Middle East and Africa LNG Engine Market by Type
9.4.5.4.2Rest of Middle East and Africa LNG Engine Market by End Use
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America LNG Engine Market Overview
9.5.2South and Central America LNG Engine Market Forecasts and Analysis
9.5.3South and Central America LNG Engine Market Forecasts and Analysis - By Type
9.5.4South and Central America LNG Engine Market Forecasts and Analysis - By End Use
9.5.5South and Central America LNG Engine Market Forecasts and Analysis - By Countries
9.5.5.1Brazil LNG Engine Market
9.5.5.1.1Brazil LNG Engine Market by Type
9.5.5.1.2Brazil LNG Engine Market by End Use
9.5.5.2Argentina LNG Engine Market
9.5.5.2.1Argentina LNG Engine Market by Type
9.5.5.2.2Argentina LNG Engine Market by End Use
9.5.5.3Rest of South and Central America LNG Engine Market
9.5.5.3.1Rest of South and Central America LNG Engine Market by Type
9.5.5.3.2Rest of South and Central America LNG Engine Market by End Use
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.LNG ENGINE MARKET, KEY COMPANY PROFILES
11.1.ANGLO BELGIAN CORPORATION NV
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.CATERPILLAR INC.
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.CUMMINS INC.
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.FAIRBANKS MORSE
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.HHI ENGINE ANDMACHINERY
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.MAN ENERGY SOLUTIONS
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.MITSUBISHI HEAVY INDUSTRIES, LTD.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.ROLLS-ROYCE PLC
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SCANIA AB
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.WäRTSILä CORPORATION
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.Anglo Belgian Corporation nv
2.Caterpillar Inc.
3.Cummins Inc.
4.Fairbanks Morse
5.HHI Engine andMachinery
6.MAN Energy Solutions
7.Mitsubishi Heavy Industries, Ltd.
8.Rolls-Royce plc
9.Scania AB
10.Wärtsilä Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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