Reciprocating Power Generating Engine Market worth $24 Billion by

Reciprocating Power Generating Engine Industry is set to register around 3% CAGR between 2021 and 2027 propelled by growing demand for decentralized power generation.

SELBYVILLE, Del., Oct. 11, 2021 /PRNewswire/ — The reciprocating power generating engine market value is expected to cross USD 24 billion by 2027, according to a new research report by Global Market Insights Inc. Ongoing inclination toward cogeneration technologies utilization along with robust industrial growth will drive the business scenario. Increasing frequency of natural calamities in line with growing investments in generation capacity expansion will propel the business dynamics.

High fuel efficiency, ease of installation, and stable fuel combustion will stimulate the reciprocating power generation engine industry share. Increasing demand for power in the oil & gas sector and power plants along with rapid industrial growth will further propel the business scenario. Ongoing government initiatives to reduce GHG emissions in industrial establishments will encourage the adoption of energy-efficient systems.

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Increasing technological enhancements coupled with the rising demand for electrical efficiency and sustainable low fuel consumption engines will accelerate the industry outlook. For instance, in March 2020, Briggs & Stratton launched a new single-cylinder engine under its horizontal shaft series offering key features including an oil management system, resulting in an increase in oil change intervals to 200 hours, easy starting & long maintenance intervals.

Some prime findings of the reciprocating power generating engine market report include:

• Rising energy-efficient and conservation systems demand along with inclination toward the development of the petrochemical and refining industry will foster product adoption.

• Favorable government standards in terms of sustainable energy generation as well as increasing investments in the R&D sector will positively influence the product deployment.

• Prominent players operating across the reciprocating power generating engine industry include Siemens, Wartsila, MAN Energy Solutions, Mitsubishi Heavy Industries, Caterpillar, etc.

• Growing reciprocating power generation engines demand is increasing across the industrial sector owing to their low knocking capacity, high operational performance, and higher compression ratio.

• Ongoing investments in the energy and utilities sector, including processing plants, power plants, and oil & gas, are expected to propel the industry expansion.

Browse key industry insights spread across 800 pages with 1,464 market data tables & 31 figures & charts from the report, “Reciprocating Power Generating Engine Market Statistics By Fuel Type (Gas-Fired, Diesel-Fired, Dual Fuel, Others), Rated Power (0.5 MW – 1 MW, 1MW – 2 MW, 2 MW – 3.5 MW, 3.5 MW – 5 MW, 5 MW -7.5 MW, 7.5…