How Will the Reciprocating Power Generating Engine Market Size be Impacted by Key Trends and Market Drivers?
The reciprocating power generating engine market size has grown marginally in recent years. It already increased from $52.92 billion in 2024 to $53.55 billion in 2025 at a compound annual growth rate (CAGR) of 1.2%. This growth in the historic period can be attributed to factors such as industrialization, advancements in internal combustion engine technology, expansion of electrical generation and power plants, and the growing demand for reliable backup and auxiliary power.
The market size is expected to see more growth in the next few years, reaching $56.53 billion in 2029 at a CAGR of 1.4%. The anticipated growth in the forecast period will likely be driven by customized reciprocating engines for specific applications, sustainable engine designs, expansion in distributed energy generation, and adoption of reciprocating engines in microgrids. The major trends in the forecast period include advanced combustion and emissions control technology, regulatory compliance, smart connected reciprocating engines, and personalized power generation solutions.
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What’s Driving the Growth of the Reciprocating Power Generating Engine Market?
The increase in electricity demand across commercial and industrial sectors is significantly contributing to the growth of the reciprocating power generating engine market. Rising electricity usage due to the expansion of cogeneration plants, a growth in small industries, and increasing private consumption are the major drivers. For instance, according to the International Energy Agency, global electricity demand is anticipated to increase by approximately 4% in 2024, up from 2.5% in 2023.
What Are the Main Segments Within the Global Reciprocating Power Generating Engine Market?
The Reciprocating Power Generating Engine Market segments in this report are:
1) By Fuel: Gas-Fired, Diesel-Fired, Duel Fuel, Other Fuel
2) By Rated Power: Below 2MW, 2MW-5MW, Above 5MW
3) By Application: Industrial, CHP, Energy and Utility, Landfill and Biogas, Other Applications
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What Key Companies Are Driving the Reciprocating Power Generating Engine Market?
Major companies operating in the market include Rolls-Royce Limited, Mitsubishi Motors North America Inc., MAN Energy Solutions SE, Kohler Co., Kirloskar Oil Engines Limited., Kawasaki Heavy Industries Ltd., Deere & Company., Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Deutz AG, Escorts Kubota Limited., Siemens Energy AG, Wärtsilä Oyj Abp, Yanmar Co. Ltd., J C Bamford Excavators Ltd., General Electric Company, Motorenfabrik Hatz GmbH & Co. KG, Perkins Engines Company Limited, MTU Onsite Energy Corp., Doosan Engine Co. Ltd., HD Hyundai Heavy Industries Co. Ltd., INNIO Jenbacher GmbH & Co., Liebherr-International Deutschland GmbH, Cooper Corporation., Mahindra & Mahindra Limited.
What Trends Are Emerging in the Reciprocating Power Generating Engine Market?
Strategic collaborations between companies are an emerging trend. Companies are undergoing partnerships to develop new technologies and products. For instance, in January 2022, WEC Energy Group and the Electric Power Research Institute partnered to complete a hydrogen blending pilot project at a reciprocating engine, allowing strategic growth for both companies and showcasing the evolving nature of reciprocating engines in the energy sector.
How is the Reciprocating Power Generating Engine Market Growth Performing Regionally?
North America was the largest region in the reciprocating power generation engine market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The reciprocating power generating engine market report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Definition: What Does The Reciprocating Power Generating Engine Market Report 2025 Offer?
The reciprocating power generation engines are defined as heat-generating engines employing one or more pistons to convert pressure into rotary motion. The Reciprocating Power Generating Engine Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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