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, according to a new report 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 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.
Availability
of alternative-fuel options such as propane auto gas and compressed natural gas
as well as and electric vehicles is anticipated to challenge industry growth.
However, a complete replacement by these substitutes may take a long time owing
to the reliability and efficiency offered by IC engine technology.
Browse
Details of Report @ https://www.grandviewresearch.com/industry-analysis/internal-combustion-engine-market
Further key findings from the study suggest:
- 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.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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