Growing adoption of internal combustion engine market fed vehicles
coupled with rising consumer disposable income especially in countries such as
India, Brazil and China is expected to drive the global market growth over the
forecast period. Several benefits offered by these engines such as outstanding
durability and drivability may fuel industry growth.
In depth research report on Internal Combustion Engine Market
Internal
combustion engine is defined as a heat engine in which the combustion of fuel
occurs with an oxidizer in a combustion chamber which is a central part of the
working fluid flow circuit that applies direct force to pistons, nozzle or
turbine blades that moves these components over a distance, transforming
chemical energy into valuable mechanical energy. Diesel, natural gas, petrol
and gasoline are the most commonly used fuel in this type of engine. Growing
trend of combining these engines with hybrid electric powertrains to improve
fuel economy or plug-in hybrid electric systems to expand the range of plug-in
hybrid electric vehicles, may offer new avenues for market growth over the
coming years.
 |
U.S. internal
combustion engine market share by fuel type, 2012 - 2022 (Thousand Units)
|
Global regulations for fuel economy coupled with EPA emission standards
(carbon-dioxide emission standard) is expected to restrain product demand.
Growing adoption of electric vehicles may pose challenge to market growth. In
addition, increasing government initiatives providing subsidies on electric
vehicles is expected to restrain demand. Several benefits offered by electric
engines over internal combustion engines such as low maintenance cost, high
efficiency, low or no pollution and least CO2 emission, may negatively impact
industry growth. However, more power and better reliability offered by these
engines over electric engines is expected to favorably impact global demand.
Asia Pacific is estimated to exhibit substantial growth over the next few
years owing to growing adoption of these engines in developing countries such
as China and India. North America is expected to account for significant market
share due to the presence of an established car market in the region; though,
regional market growth is estimated to be slow attributing to strict government
regulations restraining the use of internal combustion engines.
Key industry participants include Volkswagen AG, Doosan Infracore Company
Limited, Kohler Company, Rolls-Royce Holdings plc, Toyota Motor Corporation,
Volvo AB, Renault SA, Shanghai Diesel Engine Company Limited, Mitsubishi heavy
industries, Ford Motor, General Motors, Fiat SpA, Delphi Automotive,
Electro-Motive Diesel, Mahindra & Mahindra Limited, Deere & company,
Caterpillar Incorporated, and Bosch. Vendors focus on developing new and
innovative electric engines as they perceive it to be the future of automobile
industry. Companies also seize social responsibility with rising concerns
pertaining to environmental impact caused by these engines, which has
instigated them to shift towards developing electric engines.
Browse more research reports of this category:
About Grand View Research
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.
For more market analysis
reports, please visit:
No comments:
Post a Comment