Global Internal Combustion Engines Market Size (2024 - 2029)

The Global Internal Combustion Engines Market is projected to experience growth driven by the rising demand for automobiles and two-wheeler vehicles, particularly in the Asia-Pacific region. This region is anticipated to hold a substantial portion of the market share due to increasing industrial and commercial activities, leading to higher vehicle sales. However, the market's expansion may face challenges from the growing preference for non-GHG-emitting vehicles and supportive policies promoting alternative fuel vehicles. Despite these challenges, advancements in research, development, and technology related to internal combustion engine design are expected to offer significant opportunities for market growth.

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Market Size of Global Internal Combustion Engines Industry

Global Internal Combustion Engines Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 266.33 Billion
Market Size (2029) USD 361.49 Billion
CAGR (2024 - 2029) 6.30 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Global Internal Combustion Engines Market Major Players

*Disclaimer: Major Players sorted in no particular order

Global Internal Combustion Engines Market Analysis

The Global Internal Combustion Engines Market size is estimated at USD 266.33 billion in 2024, and is expected to reach USD 361.49 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).

  • The increasing demand for automobiles and two-wheeler vehicles in Asia-Pacific is expected to drive the market during the forecast period.
  • On the other hand, rising demand for non-GHG-emitting vehicles and supportive policies to adopt alternate fuel vehicles are expected to hamper the market's growth.
  • Nevertheless, the increasing research & development and technological advancements in the internal combustion engine design are expected to present significant growth opportunities for the market during the forecast period.
  • Asia-Pacific is expected to have a significant share of the market due to increasing industrial and commercial activities, which will translate to more vehicle sales during the forecast period.

Global Internal Combustion Engines Industry Segmentation

An internal combustion engine generates power by burning petrol, oil, or another fuel with air inside the engine. The hot gases produced are used to drive a piston or do other work as they expand.

The global internal combustion engine market is segmented by capacity, fuel type, and geography. By capacity, the market is segmented into 50 cm3 to 200 cm3, 201 cm3 to 800 cm3, 801 cm3 to 1500 cm3, and 1501 cm3 to 3000 cm3. By fuel type, the market is segmented into gasoline, diesel, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report also covers the market sizes and forecasts across major regions. For each segment, the market sizing and forecasts were made based on revenue (USD).

Capacity
50 cm3 to 200 cm3
201 cm3 to 800 cm3
801 cm3 to 1500 cm3
1501 cm3 to 3000 cm3
Fuel Type
Gasoline
Diesel
Others
Geography
North America
United States
Canada
Rest of North America
Europe
United Kingdom
Spain
Russia
Turkey
Nordic Countries
Norway
Germany
Rest of Europe
Asia-Pacific
India
China
Japan
Malaysia
Indonesia
Thailand
Vietnam
Rest of Asia-Pacific
Middle East and Africa
United Arab Emirates
Saudi Arabia
Nigeria
Qatar
Egypt
Rest of Middle East and Africa
South America
Brazil
Argentina
Colombia
Rest of South America
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Global Internal Combustion Engines Market Size Summary

The global internal combustion engine market is poised for substantial growth over the forecast period, driven primarily by the increasing demand for automobiles and two-wheeler vehicles, particularly in the Asia-Pacific region. This demand is fueled by rapid urbanization and industrialization in countries like China, India, and Japan, where the burgeoning e-commerce sector and rising vehicle usage are significant contributors. Despite the challenges posed by the shift towards non-GHG-emitting vehicles and supportive policies for alternative fuel adoption, the market is expected to benefit from ongoing research and technological advancements in engine design. These innovations are likely to create significant growth opportunities, especially in the diesel engine segment, which continues to see enhancements in efficiency and performance.

The Asia-Pacific region is anticipated to hold a dominant position in the market due to its expanding industrial and commercial activities, which are expected to drive vehicle sales. The region's motor vehicle production has shown robust growth, further bolstering the demand for internal combustion engines. Key players in the market, such as Volvo Ab, Man SE, Yamaha Motor Co. Ltd, Suzuki Motor Corp, and Ford Motor Company, are actively involved in advancing engine technologies. Recent developments, such as Bosch's announcement of a hydrogen internal combustion engine for trucks and regulatory agreements in Europe allowing the continued sale of ICE vehicles, underscore the market's dynamic nature. These factors collectively suggest a promising outlook for the internal combustion engine market, with Asia-Pacific leading the charge.

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Global Internal Combustion Engines Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Demand for Automobiles

        2. 1.5.1.2 Increasing Demand for Two-Wheeler Vehicles

      2. 1.5.2 Restraints

        1. 1.5.2.1 Rising Demand for Non-GHG Emitting Vehicles

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8 Investment Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Capacity

      1. 2.1.1 50 cm3 to 200 cm3

      2. 2.1.2 201 cm3 to 800 cm3

      3. 2.1.3 801 cm3 to 1500 cm3

      4. 2.1.4 1501 cm3 to 3000 cm3

    2. 2.2 Fuel Type

      1. 2.2.1 Gasoline

      2. 2.2.2 Diesel

      3. 2.2.3 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Spain

        3. 2.3.2.3 Russia

        4. 2.3.2.4 Turkey

        5. 2.3.2.5 Nordic Countries

        6. 2.3.2.6 Norway

        7. 2.3.2.7 Germany

        8. 2.3.2.8 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 Malaysia

        5. 2.3.3.5 Indonesia

        6. 2.3.3.6 Thailand

        7. 2.3.3.7 Vietnam

        8. 2.3.3.8 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 United Arab Emirates

        2. 2.3.4.2 Saudi Arabia

        3. 2.3.4.3 Nigeria

        4. 2.3.4.4 Qatar

        5. 2.3.4.5 Egypt

        6. 2.3.4.6 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Colombia

        4. 2.3.5.4 Rest of South America

Global Internal Combustion Engines Market Size FAQs

The Global Internal Combustion Engines Market size is expected to reach USD 266.33 billion in 2024 and grow at a CAGR of 6.30% to reach USD 361.49 billion by 2029.

In 2024, the Global Internal Combustion Engines Market size is expected to reach USD 266.33 billion.

Global Internal Combustion Engines Market Report Snapshots

Global Internal Combustion Engines Market Size & Share Analysis - Growth Trends & Forecast (2024-2029)