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The commercial internal combustion engines global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commercial Internal Combustion Engines Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The commercial internal combustion engines market size has grown strongly in recent years. It will grow from $211.29 billion in 2023 to $227.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to infrastructure development, global trade and transportation needs, regulatory standards and emissions control, diversity in industrial applications, affordability and accessibility..
The commercial internal combustion engines market size is expected to see strong growth in the next few years. It will grow to $298.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global infrastructure projects, evolving emission standards, energy transition challenges, adoption of alternative fuels, resilience in specific applications.. Major trends in the forecast period include adoption of advanced engine management systems, focus on sustainable and eco-friendly technologies, development of high-performance engines, enhancements in engine durability and longevity, globalization of commercial vehicle production..
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Scope Of Commercial Internal Combustion Engines Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Commercial Internal Combustion Engines Market Overview
Market Drivers –
The increasing demand for fuel-efficient vehicles is expected to propel the growth of the commercial internal combustion engine market going forward. Fuel-efficient vehicle refers to a vehicle that has 27 miles per gallon or higher of highway fuel economy. The fuel efficiency of a vehicle depends upon the speed and timing of internal combustion engines, which provide outstanding drivability and durability. Hence, the increasing demand for fuel-efficient vehicles will increase the demand for the commercial internal combustion engine market. For instance, according to International Energy Agency, a France-based autonomous intergovernmental organization, in 2021, 92% of light-duty vehicle sales worldwide were powered by fossil fuels while electric vehicles accounted for the remaining 6.8 million sales (including battery electric and plug-in hybrid vehicles). Also, the global sales of hydrogen-powered fuel cell electric vehicles totalled about 16 000. By the end of the decade, around 60% of new light-duty vehicle sales will be electric. Therefore, the increasing demand for fuel-efficient vehicles is driving the demand for the commercial internal combustion engine market.
Market Trends –
Product innovations are the key trend gaining popularity in the commercial internal combustion engine market. Major companies operating in the commercial internal combustion engine market are focused on developing new solutions to increase their share in the market. For instance, in February 2023, JCB Power Systems Ltd., a UK-based developer, and manufacturer of industrial diesel engine solutions, launched a hydrogen combustion engine. The hydrogen combustion engine is developed based on combustion technology and it provides an inexpensive, emissions-free alternative resulting in zero CO2 emissions at the point of use. JCB’s hydrogen engine has several advantages over diesel or gasoline alternatives. At the time of usage, the hydrogen fuel used in the engine produces just steam and no CO2 emissions. Also, the hydrogen-powered JCB prototype backhoe loader can carry out all the functions of its diesel-powered version.
The commercial internal combustion engines market covered in this report is segmented –
1) By Type: Petroleum, Natural Gas
2) By Power Output: 100-300 kW, 300-500 kW, 0.5-1 MW, 1-5 MW, 5-15 MW, 15-25 MW, 25 MW And Above
3) By Application: Marine, Automotive, Aircraft, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the commercial internal combustion engines market in 2023. The regions covered in the commercial internal combustion engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the commercial internal combustion engines market report are Toyota Motor Corporation, Ford Motor Company, MAN SE, Renault S.A., Mitsubishi Heavy Industries Ltd., General Motors Company, Fiat Chrysler Automobiles N.V., Caterpillar Inc., Rolls-Royce Holdings plc, Mahindra & Mahindra Limited, Robert Bosch GmbH, AGCO Corporation, Volkswagen AG, Yanmar Co. Ltd., Kawasaki Heavy Industries Ltd., Ashok Leyland Limited, Raytheon Technologies Corporation, General Electric Company, Cummins Inc., MTU Aero Engines GmbH, China Shipbuilding Industry Corporation, China State Shipbuilding Corporation, Mitsui E&S Holdings Co. Ltd., Daihatsu Motor Co. Ltd., Hyundai Motor Company, STX Engine Co. Ltd., Weichai Power Co. Ltd., Hitachi Zosen Corporation, IHI Corporation, Doosan Corporation, Wärtsilä Corporation, DEUTZ AG, Scania AB, Volvo Penta AB, Deere & Company, Kohler Co., Briggs & Stratton Corporation, Honda Motor Co. Ltd., Yamaha Motor Co. Ltd., Suzuki Motor Corporation, Isuzu Motors Limited, Hino Motors Ltd., Navistar International Corporation .
Table of Contents
1. Executive Summary
2. Commercial Internal Combustion Engines Market Report Structure
3. Commercial Internal Combustion Engines Market Trends And Strategies
4. Commercial Internal Combustion Engines Market – Macro Economic Scenario
5. Commercial Internal Combustion Engines Market Size And Growth
…..
27. Commercial Internal Combustion Engines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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