Internal Combustion Engine Market: By Product Type, By Application and Geography
Internal Combustion Engine Market: By Product Type, By Application and Geography
Internal Combustion Engine Market size was valued at US$ 235.3 billion in 2022 and grow at a CAGR of 5.9% from 2023 - 2029. Diesel and gasoline as liquids are easily transported, widely available, and can be re-fueled quickly, heat loss is smaller and the thermal efficiency is higher which act as drivers. Factors like heavy dependence on already limited reserves of fossil fuels and high-risk act as restraints to the global market. Advanced technology like low-temperature combustion engine provides a significant opportunity to the market. The report studies global Internal Combustion Engine market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and service providers engaged in internal combustion engine market.
Study Period
2024-2030Base Year
2023CAGR
5.9%Largest Market
Asia-PacificFastest Growing Market
North America
It is noticed that the global Internal Combustion Engine market has a significant market growth rate on perspective of increasing demand for vehicles. Central to the development of transport infrastructure and energy plans are forecasts of automobile utilization. The mutual dependence of vehicle use on vehicle demand suggests their joint modelling, with the further recognition that the demand for vehicles and fuel are derived from the demand for household services, embodied in the intensity of utilization which boost the global market.
North America contributed major revenue followed by Europe and Asia Pacific. In 2021, North America region accounted huge growth rate and is anticipated to grow with a forecast year due to the presence of key market players and on the perspective of lower fuel consumption concept. Europe dominates on rising awareness on plug-in hybrid electric systems and Rand D activities. Asia Pacific dominates by emerging countries like Japan and China and increasing demand for vehicles boosting the global market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 235.3 billion |
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Market CAGR |
5.9% |
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By Product Type |
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By Application |
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By Region |
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The internal combustion engine market size was valued at US$ 235.3 billion in 2022
The internal combustion engine market key players are: Toyota Motor Corporation AGCO Corporation. Volkswagen AG MAN SE Ford Motor Fiat SpA General Motors Volvo AB Caterpillar Incorporated Rolls-Royce Holdings plc Shanghai Diesel Engine Company Limited Renault SA Mitsubishi Heavy Industries Bosch Mahindra and Mahindra Limited
The internal combustion engine market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Internal Combustion Engine Market Introduction |
| 2.1. Global Internal Combustion Engine Market Taxonomy |
| 2.2. Global Internal Combustion Engine Market Definitions |
| 2.2.1. Product Type |
| 2.2.2. Application |
| 3. Global Internal Combustion Engine Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Internal Combustion Engine Market Dynamic Factors - Impact Analysis |
| 3.6. Global Internal Combustion Engine Market Competition Landscape |
| 4. Global Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Internal Combustion Engine Market, By Product Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Petroleum |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Natural Gas |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Internal Combustion Engine Market Forecast, By Application, 2018 - 2022 and Forecast, 2023 - 2029 |
| 6.1. Automotive |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Aircraft |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Marine |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Internal Combustion Engine Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Region, 2023 - 2029 |
| 8. North America Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Petroleum |
| 8.1.2. Natural Gas |
| 8.1.3. Others |
| 8.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Automotive |
| 8.2.2. Aircraft |
| 8.2.3. Marine |
| 8.2.4. Others |
| 8.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Country, 2023 - 2029 |
| 8.5. North America Internal Combustion Engine Market Dynamics Trends |
| 9. Europe Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Petroleum |
| 9.1.2. Natural Gas |
| 9.1.3. Others |
| 9.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Automotive |
| 9.2.2. Aircraft |
| 9.2.3. Marine |
| 9.2.4. Others |
| 9.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Country, 2023 - 2029 |
| 9.5. Europe Internal Combustion Engine Market Dynamics Trends |
| 10. Asia-Pacific Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Petroleum |
| 10.1.2. Natural Gas |
| 10.1.3. Others |
| 10.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Automotive |
| 10.2.2. Aircraft |
| 10.2.3. Marine |
| 10.2.4. Others |
| 10.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Country, 2023 - 2029 |
| 10.5. Asia-Pacific Internal Combustion Engine Market Dynamics Trends |
| 11. Latin America Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Petroleum |
| 11.1.2. Natural Gas |
| 11.1.3. Others |
| 11.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Automotive |
| 11.2.2. Aircraft |
| 11.2.3. Marine |
| 11.2.4. Others |
| 11.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Country, 2023 - 2029 |
| 11.5. Latin America Internal Combustion Engine Market Dynamics Trends |
| 12. Middle East and Africa Internal Combustion Engine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Petroleum |
| 12.1.2. Natural Gas |
| 12.1.3. Others |
| 12.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Automotive |
| 12.2.2. Aircraft |
| 12.2.3. Marine |
| 12.2.4. Others |
| 12.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Internal Combustion Engine Market - Opportunity Analysis Index, By Product Type, By Application, and Country, 2023 - 2029 |
| 12.5. MEA Internal Combustion Engine Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Application & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Toyota Motor Corporation |
| 13.2.2. AGCO Corporation. |
| 13.2.3. Volkswagen AG |
| 13.2.4. MAN SE |
| 13.2.5. Ford Motor |
| 13.2.6. Fiat SpA |
| 13.2.7. General Motors |
| 13.2.8. Volvo AB |
| 13.2.9. Caterpillar Incorporated |
| 13.2.10. Rolls-Royce Holdings plc |
| 13.2.11. Shanghai Diesel Engine Company Limited |
| 13.2.12. Renault SA |
| 13.2.13. Mitsubishi Heavy Industries |
| 13.2.14. Bosch |
| 13.2.15. Mahindra and Mahindra Limited |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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