Global Internal Combustion Engine Market Report 2023: Featuring AGCO, Hino Motors, Bosch, Ford, General Motors & More

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May 18, 2023, 05:45 ET

DUBLIN, May 18, 2023 /PRNewswire/ -- The "Global Internal Combustion Engine Market Size, Trends, By Fuel, By End-Use, By Application and By Region: Global Opportunity Analysis and Industry forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

With a CAGR of 4.81 % from 2023 to 2030, the Global Internal Combustion Engine (ICE) Marketis expected to grow from its estimated value of US$ 62903 Bn in 2022 to US$ 98004 Bn by 2030.

Several types of cars use internal combustion engines as their power source. It functions by burning petrol or oil to create heat, which is then transformed into power to move the cars it is installed in. In this configuration, an oxidizer is housed in a chamber where it interacts with the combustion process.

Market Drivers

One of the key factors propelling the growth of the internal combustion engine (ICE) market is the increase in government activities towards emission reduction to control pollutants. The market benefits when manufacturers increase their investments to fulfil government criteria.

The market's expansion is accelerated by the growing use of diesel oxidation catalysts (DOC) for the conversion of water and carbon dioxide (CO2) from hydrocarbons and carbon monoxide (CO). This catalyst reduces particulate matter (PM) by destroying harmful waste in the engine's exhaust stream.

Due to their greater fuel economy, toughness, and dependability, diesel engines are increasingly preferred over petrol engines, which has a positive impact on the market.

Additionally, the market for internal combustion engines (ICEs) is positively impacted by the growth of the automotive industry, a surge in investments, and rising disposable income.

Market Restraints

Reduced nitrogen oxides (NOx), particulate matter (PM), and reduced specific fuel consumption are all benefits of LTC technology. Before LTC technology is extensively used in car engines, managing ignition time and heat release rate (HRR) are substantial challenges that must be overcome.

Due to the advancement of alternative energy and hybrid vehicle technologies, internal combustion engines are no longer the only option for vehicle power trains. One of the main issues limiting market growth is the increasing adoption of EVs (electric vehicles), as well as the growing scarcity of fossil fuel reserves, which has an impact on the price of petroleum products.

Regional Analysis

The Global Internal Combustion Engine (ICE) Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Because of the rising demand for the product from several end-use verticals like construction, mining, agriculture, and power generation, Asia-Pacific (APAC) dominates the internal combustion engine (ICE) market.

Due to the high rate of car adoption in the region, North America is predicted to experience significant growth during the forecast period.

Market Taxonomy
By Fuel

Petroleum
Natural Gas

By End-Use

Automotive
Aircraft
Marine

By Application

Automotive
Non-Automotive

By Region
North America

U.S
Canada
Mexico

Latin America

Brazil
Argentina
Colombia
Peru
Chile
Venezuela
Rest of Latin America

Europe

Germany
France
UK
Russia
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Australia
New Zealand
Singapore
Malaysia
Rest of Asia Pacific

Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest Middle East & Africa

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Internal Combustion Engine (ICE) Market Outlook

5 Global Internal Combustion Engine (ICE) Market, By Fuel

6 Global Internal Combustion Engine (ICE) Market, By End-Use

7 Global Internal Combustion Engine (ICE) Market, By Application

8 Global Internal Combustion Engine (ICE) Market, By Region

9 North America Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)

10 Europe Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)

11 Asia Pacific Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)

12 Latin America Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)

13 Middle East Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)

14 Competitive Analysis

15 Company Profiles

Companies Mentioned

AGCO Corporation
ASHOK LEYLAND
Hino Motors Ltd.
Bosch Limited Caterpillar
Cummins Inc.
Ford Motor Company
Kirloskar Oil Engines Ltd.
General Motors
Mahindra & Mahindra Ltd.
Navistar Inc.

For more information about this report visit https://www.researchandmarkets.com/r/vltcaq

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