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Prime Power Reciprocating Power Generating Engine Market Size

Report ID: GMI5946
Published Date: Jun 2023
Report Format: PDF

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Prime Power Reciprocating Power Generating Engine Market Size

Prime Power Reciprocating Power Generating Engine Market size surpassed USD 16.1 billion in 2023 and is expected to register 4.7% CAGR from 2024 to 2032.

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The market for reciprocating power generating engine will cross a valuation of USD 54.9 billion by 2032. The industry is set to witness an appreciable momentum owing to increasing demand for reliable and continuous power supply across industrial facilities, data centers, hospitals, and remote off-grid locations. These engines offer key benefits including high efficiency, durability, and ability to handle heavy loads, stimulating the business potential.

Prime Power Reciprocating Power Generating Engine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Prime Power Reciprocating Power Generating Engine Market Size in 2023:	USD 16.1 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.7%
2032 Value Projection:	USD 24.5 Billion
Historical Data for:	2019 to 2023
No. of Pages:	600
Tables, Charts & Figures:	1,445
Segments covered:	Fuel Type, Rated Power, Application, End Use
Growth Drivers:	North America & Europe Surging intensity & frequency of weather-related disasters Increasing utilization of cogeneration technology Paradigm shift toward combined cycle generation Asia Pacific, Middle East & Africa Growing 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 prime power reciprocating power generating engine exceeded USD 16.1 billion in 2023 and is estimated to register 4.7% CAGR during 2024 to 2032 attributed to the increasing demand for reliable and continuous power supply across industrial facilities.

Gas fired prime power reciprocating power generating engines industry is poised to witness 5.7% growth from 2023-2032 owing to rising technological advancements, improved operational efficiency, and the need to comply with environmental regulations.

The North America prime power reciprocating power generating engine industry is projected to surpass USD 3.5 billion by 2032 driven by the increase in data center outages in line with the surging consumer awareness about the need for reliable backup power solutions.

Some of the leading prime power reciprocating power generating engine enterprises are Cummins Inc., Wärtsilä, Rolls-Royce, Kohler Co., YANMAR HOLDINGS CO., MITSUBISHI HEAVY INDUSTRIES, DEUTZ AG, Kirloskar, KUBOTA Corporation, and Perkins Engines Company Limited.