Alternative Power Generation Engines Market Revenue to
Selbyville, Del., Feb. 08, 2022 (GLOBE NEWSWIRE) —
According to the most recent study by Global Market Insights Inc. Shifting focus towards combined cycle generation along with increasing intensity of weather-related disasters will augment the market growth. The increasing use of cogeneration technologies associated with continuous investments in the expansion of production capacity will boost the business scenario. Additionally, the rapid growth in the industrial and manufacturing sector will propel the expansion of the market.
Rising concerns over environmental protection along with wide applicability in cogeneration and peak shaving applications due to the use of cleaner and cheaper fuels will drive the progress of the dual fuel engine market. Additionally, the ability to deliver fuel flexibility, low gas pressure, high efficiency and reliable power supply will drive product deployment. Additionally, the growing demand for clean and reliable electricity due to the expansion and development of industrial infrastructure will drive the demand for the products.
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Amplifying the load on online network supply with growing consumer awareness of independent power source will drive product demand. The changing trend from conventional energy sources to sustainable energy sources, coupled with technological advancements with flexible fuel mixture and improved cylinder volume, will encourage their applicability in landfills and biogas plants. In addition, the growing concern to maintain the sustainability of fossil fuels will accelerate the energy-generating reciprocating engine market value.
Standby alternative power generation engines will see growth attributed to temporary disruptions to the main grid due to weather-related disasters or a sudden increase in electricity demand. Rapid power cuts in line with strict government standards aimed at reducing carbon emissions will promote business growth. The continuous development of railways, followed by the increase in mobility and emergency power requirements, will complete the product penetration.
North America energy-generating reciprocating engine market is expected to reach USD 5 billion by 2028. The introduction of various state policies and programs to encourage the use of cogeneration, credited to its improved resilience and ability to mitigate disasters, will positively influence the landscape of the ‘industry. For example, California’s self-generation incentive program offers incentives for CHP projects up to 3 MW. In addition, increasing investments in construction activities as well as the ongoing installation of green engines will influence the product demand.
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During the pandemic, the outbreak had a marginal impact on the overall scenario of the global industry. Adapting major market players to changing industry conditions will help limit the disruption caused by the spread. However, government initiatives to resume various operations in manufacturing facilities, major industries, power plants and infrastructure projects will positively influence the overall business outlook.
Wartsila, Siemens, Mitsubishi Heavy Industries, MAN Energy Solutions, Caterpillar, etc. are prominent players operating in the alternative power generation engine market.
Table of contents (ToC) of the report:
Chapter 3 Alternative Power Generation Engines Market Overview
3.1 Industry Ecosystem Analysis
3.1.1 Supplier matrix
3.2 Innovation and technology landscape
3.3 Regulatory landscape
3.3.1 North America
126.96.36.199 National Hazardous Air Pollutant Emission Standards for Reciprocating Internal Combustion Engines
188.8.131.52 United States
184.108.40.206 NOx emission standards
220.127.116.11 SOx emission standards
18.104.22.168 China – Standards I/II
22.214.171.124 National emission control areas
3.3.6 South Africa
3.4 Impact of COVID-19 on Industry Outlook
3.4.1 Top 10 countries affected by COVID-19
3.5 Industry impact forces
3.5.1 Drivers of growth
3.5.2 Industry pitfalls and challenges
3.6 Analysis of growth potential
3.7 Porter’s analysis
3.8 Competitive Landscape, 2021
3.8.1 Strategy Dashboard
3.9 PILON analysis
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