Commercial Internal Combustion Engines Manufacturing Market Investigation & Development Trends Analyzed till 2020
The global market for commercial internal combustion engines reached $166.9 billion in 2016 and should reach $208.3 billion by 2020, growing at a compound annual growth rate (CAGR) of 5.7% from 2016 to 2020.
Report Scope:
This research report categorizes the internal combustion engines manufacturing market by type. Product type include automobile engines, aircraft engines, and other engines.
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Report Includes:
- 95 data tables
- An overview of the global market for manufacturing commercial internal combustion engines
- Analyses of global market trends, with data from 2012-2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2020
- Coverage of commercial internal combustion engine (nonautomotive) segments, along with relevant market and production information, issues involved, and applications
- An evaluation of local market data and analyses to help create regional strategies
- Information on the future developments in the market, and external factors supporting and controlling the growth of the market
- Profiles of major players in the industry including United Technologies Corporation (UTC), GE Company, Cummins Inc., Rolls Royce Holdings and MTU Aero Engines GMBH
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Summary
Global internal combustion engines market is currently in a very crucial phase of transformation. There is mounting pressure to reduce costs, improve quality and satisfy customers as it has been moving from a provider-driven model to a consumer-driven model. At the same time, the rapid urbanization, stringent regulations, rising population, increasing technology, research and development investment, and rising income levels is steering the demand for consumer-driven automobiles and transportation. These factors are, in turn, generating demand for internal combustion engines to meet high expectations.
The market for internal combustion engines reached a value of nearly $167 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% to nearly $208 billion by 2020.
The market for internal combustion engines is somewhat concentrated with a few large players dominating the market. Major players in the market are United Technologies Corporation, General Electric Company, and Cummins Inc., among others. Aircraft engines accounted for the largest share of the market for internal combustion engines in 2016 at REDACTED. The highest growth is projected to come from automobile engines, expected to grow at a CAGR of REDACTED, as greater demand is exp ected from rising population, urbanization, and disposable income in developing countries.
Asia Pacific is the largest market for internal combustion engines, accounting for REDACTED of the global market. It was followed by North America, and Western Europe. Going forward, the Middle East is expected to witness the fastest growth in the internal combustion engines market, estimated at a CAGR of REDACTED, followed by Asia Pacific, expected to grow at a CAGR of REDACTED.
The United States is the largest market in terms of value and is driving the market for internal combustion engines with increasing investments in the country by global engine manufactures. India and Russia are forecasted to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by restraints such as reduction in free trade and growing popularity on electric cars
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