Market Size of South America Internal Combustion Engines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 32.23 Billion |
| Market Size (2029) | USD 42.38 Billion |
| CAGR (2024 - 2029) | 5.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Internal Combustion Engines Market Analysis
The South America Internal Combustion Engines Market size is estimated at USD 32.23 billion in 2024, and is expected to reach USD 42.38 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).
• Over the medium term, increasing demand for ICE two-wheelers and the rise of plug-in hybrid ICE vehicles (PHEV) are expected to drive the growth of the South America Internal Combustion Engines Market during the forecast period.
• On the other hand, the rising electric vehicle market and demand for the adoption of cleaner fuels in regard to the green climate goals are expected to hinder the growth of South America's Internal Combustion Engines Market during the forecast period.
• Nevertheless, technological innovation and adaptation of the latest technologies in plug-in hybrid vehicles are likely to create opportunities for the South America Internal Combustion Engines Market during the forecast period.
• Brazil dominates the market and is also likely to witness the highest growth during the forecast period.
South America Internal Combustion Engines Industry Segmentation
An internal combustion engine, typically used in motive cars, trucks, buses, and locomotives, is a heat engine in which the combustion of a liquid/gaseous fuel occurs with air/oxygen in a combustion chamber that is an essential part of the working fuel. The chemical expansion of the high-pressure and high-temperature gases produced by combustion applies direct force to the engine's components. This force is typically applied to pistons, gas turbine blades, a rotor engine, or a jet engine.
The South American Internal Combustion Engines 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 Brazil, Chile, Argentina, Colombia, and the Rest of South American Countries.
South America Internal Combustion Engines Market Size Summary
The South America Internal Combustion Engines Market is poised for growth, driven by increasing demand for two-wheelers and the rise of plug-in hybrid vehicles. Despite the challenges posed by the burgeoning electric vehicle market and the push for cleaner fuels, technological advancements in hybrid vehicles present new opportunities. Brazil stands out as a dominant player in this market, expected to experience significant growth. The region has seen moderate demand for diesel engines, fueled by investments in construction and the need for reliable power supplies. Diesel engines, known for their fuel efficiency and superior performance, continue to be a popular choice, with South America emerging as a hub for developing engines compatible with biodiesel.
Brazil's transportation landscape remains heavily reliant on internal combustion engines, with diesel vehicles being a prominent feature due to their power and affordability. The country has been slow to transition to electric vehicles, supported by its robust infrastructure for fossil fuels. However, there is a growing interest in plug-in hybrid vehicles, particularly in public transport and commercial sectors. The market is moderately fragmented, with key players like General Motors, Volkswagen Group, and Renault Group actively investing in the region. Recent investments, such as Renault's significant financial commitment to Brazil, highlight the continued focus on internal combustion engine production, ensuring a positive outlook for market players in the coming years.
South America Internal Combustion Engines Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing demand for ICE two-wheelers
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1.5.1.2 Rise of plug-in hybrid ICE vehicles (PHEV)
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1.5.2 Restraints
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1.5.2.1 Rising Battery electric vehicle market
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By capacity
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2.1.1 50 cm3 to 200 cm3
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2.1.2 201 cm3 to 800 cm3
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2.1.3 801 cm3 to 1500 cm3
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2.1.4 1501 cm3 to 3000 cm3
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2.2 By Fuel Type
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2.2.1 Gasoline
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2.2.2 Diesel
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2.2.3 Others
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2.3 Geography
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2.3.1 Brazil
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2.3.2 Chile
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2.3.3 Argentina
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2.3.4 Colombia
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2.3.5 Rest of South America
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South America Internal Combustion Engines Market Size FAQs
How big is the South America Internal Combustion Engines Market?
The South America Internal Combustion Engines Market size is expected to reach USD 32.23 billion in 2024 and grow at a CAGR of 5.60% to reach USD 42.38 billion by 2029.
What is the current South America Internal Combustion Engines Market size?
In 2024, the South America Internal Combustion Engines Market size is expected to reach USD 32.23 billion.
