Reciprocating Engine Market - By Fuel (Gas, Diesel), By Rated Power (0.5 MW - 1 MW, > 1 MW - 2 MW, > 2 MW - 3.5 MW, > 3.5 MW - 5 MW, > 5 MW - 7.5 MW, > 7.5 MW), By Application, By Regional Outlook & Forecast, 2024 – 2032
Report ID: GMI4890
|
Published Date: July 2024
|
Report Format: PDF
Download Free PDF
Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 21
Tables & Figures: 50
Countries covered: 28
Pages: 140
Download Free PDF

Reciprocating Engine Market
Get a free sample of this reportGet a free sample of this report Reciprocating Engine Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Reciprocating Engine Market Size
Reciprocating Engine Market size in 2023 was valued at USD 70.5 billion and is estimated to grow at a rate of 5% up to 2032. The rising demand for electricity generation coupled with increased investments in infrastructure development will continue to necessitate the deployment of the product. For instance, in 2023, the European Union allocated around USD 20 billion toward electricity grid investments.
A reciprocating engine lies at the heart of combustion engines converting fuel energy into linear motion. Within its structure, a piston housed in a cylinder compresses a blend of fuel and air. Once ignited by a spark plug, this mixture combusts, propelling the piston downward with significant force. This reciprocal movement is then translated into rotational energy through a crankshaft. These engines are indispensable for powering diverse machinery ranging from automobiles to small aircraft.
Reciprocating Engine Market Trends
Increasing demand for these engines has been fueled by the shift from traditional fuels to cleaner alternatives spurred by stringent government regulations. The rising need for these units in marine applications coupled with a growing emphasis on energy efficiency and lower operational expenses, is expected to further drive industry expansion. The product boasts significant advantages including modular design, rapid startup capability, and versatility in operating with various fluids, making it highly coveted and bolstering the industry prospects. Furthermore, there is a rising focus on extending the grid to rural regions, backed by regulatory initiatives along with increasing acknowledgment of the critical role of emergency preparedness solutions among end users, accelerating the business potential.
Reciprocating Engine Market Analysis
The gas powered reciprocating engine industry will exceed over USD 25 billion by 2032. The growing need for distributed power generation along with the expansion of small and medium-scale industrial facilities will enhance the business environment. The trends favoring unconventional gas resources and stringent emission regulations will drive the adoption of these engines. These system offers numerous advantages that present favorable market opportunities comprising of low initial costs, proven reliability, fast start-up capabilities, significant heat-recovery potential and efficient load-following capabilities.
The > 3.5 MW - 5 MW reciprocating engine market size will witness a growth rate of over 7% by 2032. Government investments aimed at bolstering national security and improving shipping infrastructure will positively influence the business landscape. The expansion and opening of crucial shipping routes particularly choke points will result in a rise in merchant vessels, thereby driving the industry expansion. Additionally, increasing demand from data centers, fueled by the widespread use of social networking platforms, smartphones, government initiatives, and e-commerce platforms, will fuel the product penetration.
The Asia Pacific reciprocating engine market is set to surpass USD 35 billion by 2032. Continued adoption of dual-fuel engines in line with the expansion of offshore and subsea applications including drilling, production, and maintenance activities will bolster the business growth. The cruise ship industry expansion coupled with a focus on fuel efficiency and operational cost management will drive down expenses for shipowners which in turn will stimulate the industry dynamic.
The shift toward cleaner fuels and the shift to decentralized energy generation for microgrids and local power plants will amplify the U.S. reciprocating engine market. The increasing consumer inclination toward comfort, luxury, reliable engines, and economic stability are pivotal factors driving the installation of these engines. Additionally, increasing demand for efficient and reliable power generation solutions across various industries, including manufacturing, healthcare, and telecommunications will favor the business scenario.
Reciprocating Engine Market Share
IHI Corporation is one the prominent Japanese company renowned for its expertise in various engineering fields including reciprocating engines. The company offers innovative solutions across industries including aerospace, energy, and industrial machinery. In the realm of reciprocating engines, IHI's contributions span advanced design, manufacturing, and maintenance services tailored to meet diverse operational needs. Its engines are characterized by efficiency, reliability, and environmental sustainability, reflecting IHI's commitment to technological excellence and customer satisfaction. Through continuous research and development, the company continues to pioneer advancements in reciprocating engine technology, ensuring they remain at the forefront of the industry worldwide.
Reciprocating Engine Market Companies
The key industry players include:
Reciprocating Engine Industry News
The reciprocating engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD Million” from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Fuel
Market, By Rated Power
Market, By Application
The above information has been provided for the following regions and country: