How Has The Commercial Internal Combustion Engines Market Size Evolved In Recent Years?
The commercial internal combustion engines market has seen considerable growth due to a variety of factors.
• Over recent years, there has been a significant expansion in the market size of commercial internal combustion engines. The market's worth is projected to increase from $225.27 billion in 2024 to $242.1 billion in 2025, marking a compound annual growth rate (CAGR) of 7.5%. Factors such as infrastructure advancement, requirements for trade and transport worldwide, constructing regulatory standards and emissions control, a wide range of industrial applications, affordability, and accessibility have all contributed to this remarkable growth during the historic period.
What is the Forecasted Market Size and CAGR for the Commercial Internal Combustion Engines Market Size In The Coming Years?
The Commercial Internal Combustion Engines market is expected to maintain its strong growth trajectory in upcoming years.
• The market for commercial internal combustion engines is projected to witness robust growth in the upcoming years, expanding to $312.53 billion by 2029 at a compound annual growth rate (CAGR) of 6.6%.
Several factors will contribute to this growth in the forecast period such as worldwide infrastructure projects, changing emission regulations, issues in energy transition, use of alternative fuels, and resilience in certain applications. During the forecast period, the market is expected to see trends such as the use of sophisticated engine management systems, emphasis on green and environmentally friendly technologies, creation of high-performance engines, improvements in engine lifespan and durability, and the globalisation of commercial vehicle manufacturing.
What Key Factors and Trends Are Driving The Growth Commercial Internal Combustion Engines Market?
The growing popularity of fuel-efficient vehicles is anticipated to boost the development of the commercial internal combustion engine market. Fuel-efficient vehicles are those possessing 27 miles per gallon or greater highway fuel economy. Factors such as the velocity and timing of internal combustion engines, which offer notable drivability and resilience, determine a vehicle's fuel efficiency. Consequently, the burgeoning demand for fuel-efficient vehicles is expected to enhance the commercial internal combustion engine market's growth. For example, the Environmental Protection Agency (EPA) reports that in 2023, the real-world fuel economy in the United States rose by 0.6 miles per gallon (mpg), reaching a new high of 26.0 mpg. This improvement represents the most significant single-year increase in both fuel economy and CO2 emission rates in nearly a decade. Thus, the escalating demand for fuel-efficient vehicles is stimulating the need for the commercial internal combustion engine market.
What Are The Market Segments In The Commercial Internal Combustion Engines Market?
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
Subsegments:
1) By Petroleum: Diesel Engines, Gasoline Engines, Dual-Fuel Engines
2) By Natural Gas: Compressed Natural Gas (CNG) Engines, Liquefied Natural Gas (LNG) Engines, Biogas Engines
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What Trends Are Shaping The Commercial Internal Combustion Engines Market?
The primary trend gaining traction in the commercial internal combustion engine market is product innovation. Leading firms in the commercial internal combustion engine market are concentrating on the development of new solutions to expand their market presence. For example, in February 2023, industrial diesel engine solutions producer and developer, JCB Power Systems Ltd., based in the UK, introduced a hydrogen combustion engine. The said engine, rooted in combustion technology, presents an affordable, emission-free substitute that yields zero CO2 output at the point of application. JCB's hydrogen engine has a number of benefits over diesel or petrol counterparts. During operation, the hydrogen fuel used creates only steam, not CO2 emissions. Furthermore, the hydrogen-fueled JCB prototype backhoe loader can execute all the tasks of its diesel-fueled equivalent.
Who Are the Key Players In The Commercial Internal Combustion Engines Market?
Major companies operating in the commercial internal combustion engines market include:
• 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.
• 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
What Are The Regional Insights Into The Commercial Internal Combustion Engines Market?
Asia-Pacific was the largest region in the commercial internal combustion engines market in 2024. 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
