The India Gas Engine Market is anticipated to grow
robustly during the forecast period, 2024-2028. The gas engine is a reciprocating
combustion engine used for internal combustion. This engine runs on biogas,
natural and landfill gas, and syngas as fuel. Gas engines are regarded as
dependable sources that offer effective functioning, particularly when it comes
to incurring cheap operational and maintenance expenses.
Owing to their great electrical and
thermal efficiency, low operating and servicing costs, and excellent
dependability, these engines typically attain more than 90% efficiency. They
are utilized in a variety of applications such as power generation,
cogeneration, mechanical drive, and trigeneration functions such as district
heating systems, hospitals, universities, and industrial units.
Stricter Emissions Rules to Drive Growth
of the Market
One of the primary reasons driving the
growth of the natural gas engines market is the country’s s move toward the
utilization of gas-fired power production. The prevalence of severe
environmental regulation and sustainability standards, as well as an increasing
focus on reducing carbon emissions, also drive market growth. The rise in
natural gas consumption, as indicated in the BP Statistical Review of World
Energy, and the rise in demand for clean and efficient power production
technologies both have an impact on the market.
Moreover, rising industrialization,
favorable government rules, an increase in environmental concerns, and an
increase in investment all benefit the natural gas engines industry.
Additionally, the transition toward gas-fired power plants and the trend of
distributed power generation creates attractive prospects for market participants
from 2024 to 2028.
Factors such as the growing usage of
gas-powered construction equipment, the drop in natural gas prices, the low
environmental effect, and the rising flexibility and efficiency of gas-powered
energy generation are expected to drive India gas engine market during the
forecast period.
Adoption of Power Plants & Latest
Investments are Driving Market Growth
The development of new power plants and
transmission systems require significant investment as well as ongoing
maintenance. Most government agencies prefer cost-effective methods of meeting
power demand. The World Energy Council (WEC) predicts that worldwide power
demand would more than double by 2060 from its current level. Owing to the increasing
need to include natural gas into the electricity generating mix and improve
natural gas-related infrastructure, gas engine-based distributed power generation
is quickly developing as a cost-effective choice for government agencies.
Gas engines are less costly, more
ecologically friendly, and more dependable and efficient than other
fuel-powered engines. Natural gas engines are becoming increasingly used in
applications such as heating, energy generating, and vehicle operation.
Safran, the world's largest aircraft
engine maker, has committed to investing up to 300 million Euros (about USD 305
million) in India. When completed in 2025, a USD 212.8 million maintenance,
repair, and overhaul (MRO) facility in Hyderabad would be the French MNC's
largest shop facility in the world for LEAP engines.
Several consumer airlines in India use
the LEAP engines on their A320neos/B737 MAXs. There is a backlog of 1,500
engines for Indian airlines. India is a vital and critical market for us. In a
decade, air traffic will more than quadruple. As capacity expands in stages,
the MRO will repair 300 engines per year and employ 1,000 people by 2030. Natural gas reservoir irregularities and
fluctuating prices are projected to stymie market expansion.