Global Internal Combustion Engine Market (ICE)
Added: (Fri Jun 14 2019)
Global Internal Combustion Engine Market (ICE) was volume US$ 158.29 million unit in 2017 and is expected to increase US$ 240.10 million units by 2026 at a CAGR of 5.35%.
An internal combustion engine is an engine which produces power by burning of oil, petrol or fuel with air inside the engine, the hot gases created & used to drive a piston or do the other work as they develop. The development of the high-temperature and high-pressure gases generated by combustion applies direct force to some part of the engine.
Increasing demand for efficient engines which have minimum carbon emission is among the other prime factors driving the growth of internal combustion engine market globally. Developing several combustion modes using advanced technologies, for instance, homogeneous charge compression ignition (HCCI) is expected to escalate the growth of internal combustion engine market in the upcoming years. However, the recent array of advanced technologies, including low-temperature combustion engines and hybrid systems, have helped the industry gain traction, a trend expected to elevate industry growth during the forecast period.
Aircraft engine segment observed considerable growth during the forecast period owing to light-weight and compact design, which are termed as essentials for installation in aircraft. Furthermore, technological improvements such as multi-fuel capability that improves fuel mileage may also boost demand.
The petroleum segment leading the market with a volume-based share of over 82% in 2017 and can be further segmented into diesel and gasoline. Gasoline engines accounted for more than 48% of the overall volume in 2017. This growth can be ascribed to benefits offered by gasoline engines such as less noise and vibration also low fuel prices.
Global internal combustion engine market (ICE) report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Region-wise, The Asia Pacific accounted for the maximum market share during 2017 and will continue to dominate the market until the end of 2026. One of the major factors responsible for the market’s growth in the region is the growing demand for ICEs from various automotive and non-automotive applications for instance cars, scooters, motorcycles, diesel generators, lawnmowers, locomotives, and aircraft.
Key players operating in global internal combustion engine market (ICE), Volkswagen AG, Toyota Industries Corporation, BMW, Rolls-Royce, Navistar International Corporation, MAN SE, Kirloskar Oil Engines Ltd., Detroit Diesel, GE Power, Ford Motor, Cummins, Caterpillar Incorporated, Yamaha, Ashok Leyland Ltd and AGCO Corporation.
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Scope of Global Internal Combustion Engine Market (ICE)
Global Internal Combustion Engine Market (ICE), by Product
• Natural Gas
Global Internal Combustion Engine Market (ICE), by Cycles
Global Internal Combustion Engine Market (ICE), by Application
• Marine Engine
• Automobile Engine
• Aircraft Engine
• Stationary Engine
• Locomotive Engine
Global Internal Combustion Engine Market (ICE), by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players Operating in Global Internal Combustion Engine Market (ICE)
• Volkswagen AG
• Toyota Industries Corporation
• Navistar International Corporation
• MAN SE
• Kirloskar Oil Engines Ltd.
• Detroit Diesel
• GE Power
• Ford Motor
• Caterpillar Incorporated
• Ashok Leyland Ltd
• AGCO Corporation.
This Report Is Submitted By @Global Market Research Company
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