According to a report ,” Internal Combustion Engine (ICE) Market Size, Share & Trends Analysis Report By Fuel (Petroleum, Natural Gas), By End Use (Automotive, Aircraft, Marine), By Region, And Segment Forecasts, 2018 – 2025″published by Grand View Research, Inc., The global internal combustion engine (ICE) market demand is expected to reach 229,439 thousand units by 2025 at a 4.9% CAGR during the forecast period. 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 modes such as homogeneous charge compression ignition (HCCI) is expected to catalyze the growth of the internal combustion engines market. The automotive ICE segment is expected to witness significant growth owing to high vehicle demand over the forecast period. Surging demand for high efficiency engines with low carbon emission is also expected to fuel segment growth.
Key Takeaways from the report:
The petroleum segment captured the largest share by fuel type in 2017 and is expected to register a CAGR of close to 5.0% from 2018 to 2025. This growth is ascribed to increasing demand for gasoline powered vehicles as well increasing production of shale gas
By end use, the automotive engines segment is projected to witness healthy growth over the forecast years, primarily on account of surge in demand for commercial as well as passenger vehicles
Rising demand for submarines and ships for military applications is expected to drive the marine engines segment from 2018 to 2025
The Asia Pacific internal combustion engines market accounted for over 40.0% of the overall market volume in 2017, fueled by high demand across the automotive segment
Key players in this market include Volkswagen AG, General Motors, Rolls-Royce, Caterpillar Inc., Cummins, 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 in Automotive & Transportation Industry:
Grand View Research has segmented the global internal combustion engine (ICE) market on the basis of fuel, end use, and region:
Internal Combustion Engine Fuel Type Outlook (Volume, Thousand Units, 2014 – 2025)
Petroleum
Diesel
Gasoline
Others
Natural Gas
CNG
LNG
Internal Combustion Engine End-use Outlook (Volume, Thousand Units, 2014 – 2025)
Automotive
50-200 HP
200-300 HP
Marine
258-1000 HP
400-1400 HP
730-1800 HP
Aircraft
Internal Combustion Engine Regional Outlook (Volume, Thousand Units, 2014 – 2025)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Asia Pacific
China
India
Japan
South Korea
Latin America
Brazil
Mexico
Middle East & Africa
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.About Grand View ResearchGrand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.For more information: https://www.grandviewresearch.com/
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: SwitzerlandWebsite: www.grandviewresearch.com/industry-analysis/internal-combustion-engine-market