New York, Global Small Internal Combustion Engine (ICE) Market was valued at USD 30.2 Billion in 2022 and it is anticipated to grow up to USD 54.2 Billion by 2032, at a CAGR of 6.0% during the forecast period.
The global Internal Combustion Engine Market report from Global Insight Services is the single authoritative source of intelligence on Small Internal Combustion Engine (ICE) Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Market Trends and Drivers
Technological advancements bring evolution to the internal combustion engine, allowing them to provide more power while using less fuel. Meanwhile, engines will continue to play an essential role in the automotive industry’s evolution. Also, they have the potential to improve in areas like thermal efficiency, emissions, and electrification. The introduction of the new concept of Low-temperature combustion (LTC) is a cutting-edge combustion idea for internal combustion engines that has recently gotten a lot of attention. LTC technology has significant advantages in decreasing nitrogen oxides (NOx) and particulate matter (PM) and reducing specific fuel usage. However, controlling ignition time and heat release rate (HRR) are major obstacles to overcome before LTC technology can be widely adopted in vehicle engines. Internal combustion engines are no longer the only choice for vehicle power trains due to the development of alternative energy and hybrid vehicle technologies. Also, the rising adoption rate of EVs (electric vehicles) and the increasing shortage of fossil fuel reserves resulting in higher petroleum product costs are among the major factors restraining market growth.
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Global Internal Combustion Engine Market Segmentation
By Fuel
- Petroleum
- Natural Gas
By End-use
- Automotive
- Marine
- Aircraft
Major Players in the Global Internal Combustion Engine Market
The key players in the market are Caterpillar Inc., Kawasaki Heavy Industries, Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD, Cummins, Inc., Fairbanks Morse, INNIO, Wärtsilä Corporation and Rolls-Royce Holdings plc.
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