Internal Combustion Engine Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 73,842.5 million by 2028, registering a CAGR of 3.7% from 2021 to 2028.

The internal combustion engine manufacturing industry is continuously evolving with innovations in various types of internal combustion engines offerings to support energy requirements and meet emission targets. Rising demand for low-emission, fuel-efficient engines to reduce air pollution, and the advent of special internal combustion engines in the manufacturing, utilities, and remote generation application sectors are the key factors propelling the internal combustion engine market growth. Also, natural gas powered internal combustion engines with improved electric efficiency and low emissions are creating substantial growth opportunities for the market players. The internal combustion engine manufacturers are focusing offering advanced products to address the rising demand for high power outputs, meeting diesel engine standards. Major heavy industries, remote power plants, and automobile manufacturing companies are selecting high-power internal combustion engines due to enhanced electric efficiency and reduced fuel costs. The use of natural gas in internal combustion engines combustion technology can resolve the emission problems, along with assisting customers in meeting new regulatory norms. There is an increase in the adoption of internal combustion engines in South America, Africa, and Asia, while North America and Europe are focusing on adopting alternate fuel for power generation during the forecast period.

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The internal combustion engine manufacturing industry is continuously evolving with innovations in various types of internal combustion engines offerings to support energy requirements and meet emission targets. Rising demand for low-emission, fuel-efficient engines to reduce air pollution, and the advent of special internal combustion engines in the manufacturing, utilities, and remote generation application sectors are the key factors propelling the internal combustion engine market growth. Also, natural gas powered internal combustion engines with improved electric efficiency and low emissions are creating substantial growth opportunities for the market players. The internal combustion engine manufacturers are focusing offering advanced products to address the rising demand for high power outputs, meeting diesel engine standards. Major heavy industries, remote power plants, and automobile manufacturing companies are selecting high-power internal combustion engines due to enhanced electric efficiency and reduced fuel costs. The use of natural gas in internal combustion engines combustion technology can resolve the emission problems, along with assisting customers in meeting new regulatory norms. There is an increase in the adoption of internal combustion engines in South America, Africa, and Asia, while North America and Europe are focusing on adopting alternate fuel for power generation during the forecast period.

The global  Internal combustion engine market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. APAC holds the dominant share in the Internal combustion engine market, whereas Europe is expected to be the fastest-growing region in the global market. Strong adoption of the internal combustion engines for industrial utilities, marine sector, and power generation sector is likely to drive the European internal combustion engine market. Also, there is a strong presence of prominent engine manufacturers in European region such as INNIO, Rolls Royce, and MAN SE, which is bolstering the growth of internal combustion engine market in the region. Among all the types of internal combustion engines based on fuel type, natural gas fueled engines are predominating the European market. Stringent pollution norms and rising diesel engine pollution is promoting the industries and utility sector to use natural gases for engines over diesel or gasoline. Further, companies are developing advanced internal combustion engines, majorly for power generation. For instance, in December 2020, Rolls-Royce, a UK-based company, introduced a new MTU internal combustion engine Series 500 which delivers up to 42.6% efficiency with a power single-cylinder range of 250 to 550 kilowatts. These new gas fueled internal combustion engines are specifically developed for power generation applications for industrial and utility sectors. Similarly, MAN SE company introduced a 20.7 MW internal combustion engine at the POWER-GEN Europe event, which is an enhancing the power output ratio for the power generation market.

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The global internal combustion engine market is segmented on the bases of fuel type, power output, end user, cylinders, and geography. Based on fuel type, the market is segmented into diesel, gasoline, and natural gas. The gasoline segment led the market in 2020. Based on power output, the internal combustion engine market is segmented into 100–300 kW, 300–500kW, 0.5–1 MW, 1–5 MW, 5–15 MW, 15–25 MW, and 25 MW and above. The 100–300 kW segment led the market in 2020. By end user, the internal combustion engine market is segmented into industrial, marine, power generation, aerospace and defense, automotive, off-road, and others. The automotive segment led the global market in 2020. Based on cylinders, the internal combustion engine market is segmented into 1, 2, 3, and 4. The 4 cylinder segment led the market in 2020. The global internal combustion engine market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM. Asia Pacific led the market in 2020.

The List of Companies - Internal combustion engine Market

• Caterpillar Inc.
• Cummins Inc.
• Fairbanks Morse, LLC
• INNIO
• Kawasaki Heavy Industries, Ltd.
• MAN SE
• Rolls-Royce plc.
• Wärtsilä Corporation
• YANMAR HOLDINGS CO., LTD.
• Scania

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