The global internal
combustion engine market is expected to reach 197 million units
by 2022, according to a new study by Grand View Research, Inc. Rising need for
fuel efficiency has resulted in engine downsizing and turbocharging, which is
expected to escalate market growth over the coming years.
Development
of several advanced combustion mode such as homogeneous charge compression
ignition (HCCI) is expected to catalyze industry growth. This may be attributed
to growing demand for high efficiency along with low carbon emission. The
automotive internal combustion engine market is expected to witness significant
growth owing to high vehicle demand over the forecast period.
Development
of alternative-fuel options such as compressed natural gas & propane
autogas and electric vehicle is anticipated to pose challenge to the industry.
However, replacement of these substitutes may require high amount of time owing
to the reliability and efficiency offered by IC technology. Increasing fuel
prices may also pose challenge to industry growth over the next seven years.
Full research report on internal combustion
engine market analysis:
http://www.grandviewresearch.com/industry-analysis/internal-combustion-engine-market
Further key findings from the study suggest:
·
Petroleum segment accounted for substantial
market share in 2014, and is expected to witness growth over the next few
years. Additionally, natural gas segment accounted for more than 15% of the
overall consumption in 2014, which is expected to increase over the next few
years; this may be primarily attributed to increasing shale gas production.
·
The four stroke engine segment is estimated
to capture a sizeable market share owing to several benefits and high
efficiency offered over two stroke engines. The two stroke segment is expected
to witness steady growth over the next few years.
·
On account of surge in demand for
commercial as well as passengers vehicles, the automotive segment is estimated
to exhibit high growth over the next seven years. Further, marine applications
are also poised for high growth owing to rising demand for submarines and ships
for military applications.
·
Asia Pacific emerged as a dominant regional
IC engine market, accounting for over 35% of the overall share in 2014. High
demand across the automotive segment is anticipated to be the key factor that
drives regional demand.
·
Key players include General Motors,
Volkswagen AG, Rolls-Royce, Cummins, Caterpillar Inc., Toyota Industries
Corporation and Volvo. The industry faces several challenges owing to frequent
update in government rules and regulations, making value chain analysis
significant.
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the
global internal combustion engine market on the basis of fuel, cycle,
application, and region:
Internal
Combustion Engine Fuel Type Outlook (Volume, Thousand Units, 2012 - 2022)
·
Petroleum
·
Natural Gas
Internal
Combustion Engine Cycle Outlook (Volume, Thousand Units, 2012 - 2022)
·
2-Stroke
·
4-Stroke
Internal
Combustion Engine Application Outlook (Volume, Thousand Units, 2012 - 2022)
·
Automotive
·
Aircraft
·
Marine
Internal
Combustion Engine Regional Outlook (Volume, Thousand Units, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa (MEA)
Access
press release by Grand View Research: http://www.grandviewresearch.com/industry-analysis/internal-combustion-engine-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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