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Backup Reciprocating Power Generating Engine Market Size

Report ID: GMI5999
Published Date: Jun 2023
Report Format: PDF

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Backup Reciprocating Power Generating Engine Market Size

Backup Reciprocating Power Generating Engine Market size valued at USD 20.8 billion in 2023 and is estimated to register over 4.2% CAGR between 2024 and 2032.

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Growing focus on renewable based power generation in line with stricter environmental regulations toward reduction of carbon emissions will foster industry growth. Integration of smart technologies including internet of things connectivity and advanced monitoring systems with development of quieter engines to minimize the impact on the surrounding environment will propel business landscape.

Backup Reciprocating Power Generating Engine Market Report Attributes
Report Attribute	Details
Base Year:	2022
Backup Reciprocating Power Generating Engine Market Size in 2022:	USD 20.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.2%
2032 Value Projection:	USD 30.4 Billion
Historical Data for:	2019 to 2023
No. of Pages:	525
Tables, Charts & Figures:	1,445
Segments covered:	Fuel Type, Rated Power, Application
Growth Drivers:	North America & Europe Surging frequency of weather-related disasters Growing utilization of cogeneration technology Paradigm shift toward combined cycle generation Asia Pacific, Middle East & Africa Increasing investments toward power generation capacity expansion Robust growth across industrial sector
Pitfalls & Challenges:	High initial investment

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of backup reciprocating power generating engine was valued at USD 20.8 billion in 2023 and is poised to grow at over 4.2% CAGR from 2024 to 2032, driven by stringent environmental regulations to minimize carbon emissions globally.

The backup reciprocating power generating engine market size from the industrial application segment will garner over USD 11 billion in revenue by 2032 on account of rapid infrastructure development and industrialization in developing economies.

Asia Pacific market for backup reciprocating power generating engine was worth over USD 4 billion in 2022, attributed to ongoing refurbishment of power infrastructure coupled with rising electricity demand in the region.

Prominent backup reciprocating power generating engine industry players include MITSUBISHI HEAVY INDUSTRIES, HIMOINSA, Motorenfabrik Hatz GmbH & Co. KG, Clarke Energy, Yuchai International Imp & Exp (Beijing), Kirloskar, and Atlas Copco AB, among others.