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Asia Pacific Reciprocating Engine Market Size
Asia Pacific Reciprocating Engine Market was valued at USD 24.7 billion in 2023 and is estimated to grow at a CAGR of over 5.2% from 2024 to 2032. The surging demand for power generation coupled with increased investments in infrastructure development will favor the business scenario.
A reciprocating engine is an internal combustion engine designed to convert the energy derived from burning fuel into linear motion. Its operation involves a piston moving back and forth within a cylinder to compress a mixture of fuel and air. This mixture is subsequently ignited by a spark plug, initiating the combustion process. The increasing popularity of these engines has been further fueled by the shift from traditional fuels to cleaner alternatives, propelled by the imperative to adhere to stringent governmental mandates.
Why is the demand for diesel reciprocating engines rising in APAC?
Asia Pacific diesel reciprocating engine market will exceed USD 26 billion by 2032, led by the increasing inclination toward energy security coupled with technological advancements in alternative propulsion systems.
How much is the Asia Pacific reciprocating engine market worth?
The market size of Asia Pacific reciprocating engine was reached USD 24.7 billion in 2023 and is estimated to witness 5.2% CAGR from 2024 to 2032, due to the surging demand for power generation coupled with increased investments in infrastructure development.
What is the size of the China reciprocating engine industry?
China reciprocating engine market is set to surpass USD 11 billion by 2032, driven by increasing urbanization rate along with continuous expansion of industrial infrastructure.
Who are the major APAC reciprocating engine market players?
Some of the reciprocating engine firms in Asia Pacific are AB Volvo Penta, Briggs & Stratton, Caterpillar, Cummins, Inc., General Electric, Honda Motor Co., Ltd., and Hyundai Heavy Industries Co., Ltd.