High-Performance IC Engine Vehicle Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High-Performance IC Engine Vehicle Market Analysis
The Asia Pacific Automotive Bearing market is anticipated to register a CAGR of about 3.9% during the forecast period (2019 - 2025).
- Around 380 million heavy-duty vehicles and 1.2 billion light-duty vehicles (LDVs) in the world run on IC engines. In 2019, the daily demand for fuel oil had exceeded 11 billion litters. However, all alternatives to IC engines or alternatives to petroleum-based liquid fuels, still face very significant barriers to fast adoption, indicating a positive growth for the High-Performance IC Engine market.
- Primary, growth of the global IC engine market is attributed to rising disposable income levels with ownership towards self-driven vehicles. The Asia Pacific will see the most significant increase for IC engines
- Nevertheless, advancements are seen in IC engine technology as well. The pollutant level is down a 1000-fold compared to past decades. Moreover, electric vehicles are powered by batteries, come with a considerable cost, weight, and other limitations and cannot be fueled only by renewables sources such as wind and solar to meet the entries of the world's energy supply.
High-Performance IC Engine Vehicle Market Trends
This section covers the major market trends shaping the High-Performance IC Engine Vehicle Market according to our research experts:
Reliance on Oil will Drive the Demand for High-Performance IC Engine
About 25% of the world's internal combustion (IC) engines operate on fossil fuel oil, which contributes towards 10% of the world's greenhouse gas (GHG) emissions. In the case of automobiles, 90% of global cars run on internal combustion. Due to recent emission scandals, the reputation of IC engines has taken a massive blow. Many governments today are proposing schemes to replace vehicle IC engines with electric-drives to reduce fuel consumption and GHG emissions.
Although the market remains positive for various reasons, affordable energy remains an essential aspect, particularly in developing countries like China and India. Even, today the burning of the fossil has been the only reliable source of energy. Massive transportation networks and infrastructure are primarily based on the IC engine, which would require humongous expense to replace it altogether. EV's need a highly sophisticated charging infrastructure with relatively higher pricing, which many countries cannot procure in the present scenario.
Technological developments in IC engines domain in terms of efficiency and performance will also boost the product demand for Higher-performing IC engines. High-performance IC engines emit lesser carbon emissions and offer several combustion modes such as homogeneous charge compression ignition (HCCI), which would further escalate the growth of High-Performance IC engines.
Asia-Pacific Remains Largest Market
In the Asia Pacific, the rise in the Indian economy and increased levels of income, especially amongst the middle-class consumers will drive the growth of the automotive market. This, in turn, will improve market opportunities for the IC engine industry as well. India is one of the largest manufacturers of automotive IC Engines, with one of the lowest production prices in the world. With a steady increase in sales of vehicles, India is expected to lead the growth of the markets. Although today automotive sales are expected slowdown in dominant markets like China, causing the Chinese government to impose numerous measures to increase sales of cars.
Indian IC engine manufacturers received 100% FDI from the government of India. With increasing production of vehicles in the country and the Bharat Stage-VI (BS-VI) norms have led to the growing demand for High-Performance IC Engines. Interestingly, GST on automotive IC engine related products was also slashed. Such factors will contribute to the growth of the IC engine in India.
Although the future for mobility will be characterized as mix electric battery vehicles, hybrid electric vehicles, and other conventional vehicles, depending on consumer preference. Nevertheless, the combustion engine will still play a central role for power generation or for powering the vehicle itself, even in strongly electrified powertrain configurations. As a result, there is considerable interest in improving the thermal efficiency of IC engines without significant increases in the purchase and operating costs.
High-Performance IC Engine Vehicle Industry Overview
The High-Performance IC Engine Vehicle Market is consolidating with existing players such as Honda, Toyota, Volkswagen, Hyundai, and General Motors hold the most significant shares. To have the edge over its competitors' companies is making joint-ventures, partnerships, launching new products with advanced technology. For instance,
In 2019, VW was one of the world's largest manufacturer for IC engines and shipped over 10 million units in 2018. It is more commonly known for relatively small engines for optimal usage. VW adopted towards the less powerful 1.4-liter engine for the 2019 variant VW Golf while taking into consideration of its upgraded IC engine that will ensure a stable power output.
High-Performance IC Engine Vehicle Market Leaders
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Honda Motors
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Volkswagen AG
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Toyota Motors
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Hyundai Motors
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General Motors
*Disclaimer: Major Players sorted in no particular order
High-Performance IC Engine Vehicle Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porters Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Placement Type
- 5.1.1 In-line Engine
- 5.1.2 W engine
- 5.1.3 v type engine
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5.2 Fuel Type
- 5.2.1 Gasoline
- 5.2.2 Diesel
- 5.2.3 Others
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5.3 Vehicle Type
- 5.3.1 Passenger Cars
- 5.3.2 Commercial Vehicles
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Rest of Europe
- 5.4.3 Asia Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 Rest of the World
- 5.4.4.1 Brazil
- 5.4.4.2 Mexico
- 5.4.4.3 United Arab Emirates
- 5.4.4.4 Other Countries
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 Honda Motors
- 6.2.2 Volkswagen AG
- 6.2.3 Toyota Motors
- 6.2.4 Hyundai Motors
- 6.2.5 General Motors
- 6.2.6 Diamler AG
- 6.2.7 BMW Group
- 6.2.8 General Motors
- 6.2.9 Pagani Automobiles
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityHigh-Performance IC Engine Vehicle Industry Segmentation
The High-Performance IC Engine is segmented by Placement Type (In-line Engine, W Engine, and V-Type), Vehicle Type (Passenger Car and Commercial Vehicle), Fuel Type (Gasoline (Petrol), Diesel, Ethanol, and others) and Geography. The report covers the latest technology trends, government regulations on the IC engines in vehicles, and market share of major manufacturers across the world
| Placement Type | In-line Engine | |
| W engine | ||
| v type engine | ||
| Fuel Type | Gasoline | |
| Diesel | ||
| Others | ||
| Vehicle Type | Passenger Cars | |
| Commercial Vehicles | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia Pacific | India |
| China | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World | Brazil |
| Mexico | ||
| United Arab Emirates | ||
| Other Countries |
High-Performance IC Engine Vehicle Market Research FAQs
What is the current High-Performance IC Engine Vehicle Market size?
The High-Performance IC Engine Vehicle Market is projected to register a CAGR of 3.9% during the forecast period (2024-2029)
Who are the key players in High-Performance IC Engine Vehicle Market?
Honda Motors, Volkswagen AG, Toyota Motors, Hyundai Motors and General Motors are the major companies operating in the High-Performance IC Engine Vehicle Market.
Which is the fastest growing region in High-Performance IC Engine Vehicle Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in High-Performance IC Engine Vehicle Market?
In 2024, the Asia Pacific accounts for the largest market share in High-Performance IC Engine Vehicle Market.
What years does this High-Performance IC Engine Vehicle Market cover?
The report covers the High-Performance IC Engine Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the High-Performance IC Engine Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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