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.
Browse full research report on Global
Internal Combustion Engine Market: 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.
Browse more reports of this category by Grand View
Research: http://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)
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.
For more information: www.grandviewresearch.com
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