The global internal combustion engine Market is project to reach 229,439 thousand units by 2026 in terms of volume and the market is projected to showcase 4.67% CAGR during the forecast period.
The market is driven by emergence of advanced technology-based better performing and fuel efficient internal combustion engines.
|Market||Internal Combustion Engine Market|
|Analysis Period||2016 - 2026|
|Forecast Data||2018 - 2026|
|Segments Covered||By Fuel, By End-user and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Toyota Motor Corporation, Volkswagen AG, Volvo AB, Rolls-Royce Holdings plc, Mahindra & Mahindra Limited, Renault SA, Mitsubishi Heavy Industries, MAN SE, General Motors, Ford Motor, Fiat SpA, Caterpillar Incorporated, Shanghai Diesel Engine Company Limited, Bosch, and AGCO Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Advanced technologies, including low temperature combustion engines and hybrid systems, have aided the industry gain traction, a trend expected to elevate industry growth over the forecast period. Rising demand for efficient engines which have minimum carbon emission, is among the other prime factors driving the growth of global internal combustion engine market. Developing several combustion modes using advanced technologies such as homogeneous charge compression ignition (HCCI) is expected to escalate the growth of global internal combustion engine market in the coming years.
Technological advancements such as multi-fuel capabilities that improves fuel mileage is expected boost demand. Manufacturers regularly emphasising on strengthening their global footprint in order to improve market presence and achieve a spirited advantage. The market, over the years, has experienced challenges due to high dependence on fossil fuels which are limited reserves, and expectation for improving the internal combustion engine’s emission levels. The global internal combustion engine market experiences numerous challenges due to frequent changes and updates in government rules and regulations and also in environmental standards, making value chain analysis significant.
The global internal combustion engine market is segmented into fuel, end-use and region. On the basis of fuel the global internal combustion market is segmented into petroleum and natural gas. Petroleum is further sub-segmented into diesel, gasoline and others, whereas natural gas is sub-segmented into CNG, LNG and others.
On the basis of the end-use the global internal combustion engine market is segmented into automotive, aircraft, and marine. Automotive segment is sub-segmented into 50-200 HP, 200-300 HP and >300HP. Marine segment is further sub-segmented into 258-1000HP, 400-1400HP and 730-1800HP.
On the basis of region the global internal combustion market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
North America internal combustion engine market is anticipated to experience considerable growth over the forecast period due to high car adoption rate in the region. Europe accounted for close a quarter of the overall market volume share in 2017 of the global internal combustion engine market, which is expected to decline over the coming years. This may be owing to stringent government regulations and standards pertaining to carbon emissions, coupled with growing emphasis on use of electric vehicles in the region.
Among the regions, Asia Pacific captured a significant volume share of over 42% in 2017. This is attributed to high automobile production in the region. The aviation industry in Asia Pacific market is booming and offers avenues for growth of the aircraft engines segment over the forecast years.
The global internal combustion engine market is characterized by the presence of experienced and established players. Key companies include Toyota Motor Corporation, Volkswagen AG, Volvo AB, Rolls-Royce Holdings plc, Mahindra & Mahindra Limited, Renault SA, Mitsubishi Heavy Industries, MAN SE, General Motors, Ford Motor, Fiat SpA, Caterpillar Incorporated, Shanghai Diesel Engine Company Limited, Bosch, and AGCO Corporation. Industry participant battle on the basis of price, new innovated product launch, and expanding market presence.
Market By fuel
Market By End-user
Market By Geography