Reciprocating Power Generating Engine Market Size – 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 Fuel Type, By Application, By End Use, By Regional Outlook & Forecast, 2024 – 2032

Reciprocating Power Generating Engine Market Size

Reciprocating Power Generating Engine Market was valued at USD 36.9 billion in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2032. The growing emphasis on non-conventional energy resources in line with continuous efforts by the government to electrify remote areas will energize the industry landscape. The expansion of sustainable power generation capacity coupled with enhanced efficiency in central electricity grids will foster the business dynamics.
 

A reciprocating power generating engine is a type of engine that converts the chemical energy of a fuel into mechanical energy through the process of combustion. This engine operates by a cycle of intake, compression, power, and exhaust strokes within a series of cylinders. Favorable government reforms, rising electricity prices, and declining capital cost combined with increasing technological advancements will proliferate the business spectrum. Additionally, the superior operational performance of generation and distribution capacities along with growing environmental concern related to weather-related disasters comprising of windstorms, hurricanes, and floods will propel the demand for these power generating units.
 

Reciprocating Power Generating Engine Market Trends

The reciprocating engine market will witness substantial growth driven by rapid adoption of cogeneration technologies and continuous investments in renewable energy utilization. Stringent environmental compliance necessity coupled with innovation in technological design will invigorate the industry potential. Moreover, ongoing government initiatives aimed at electrifying rural and urban areas in conjunction with rapid expansion of power generation capacity will augment the product penetration.
 

Reciprocating Power Generating Engine Market Analysis

The gas fired reciprocating power generating engine will exceed USD 12 billion by 2032. These engines are utilized for grid support services and demand response programs, offering reliable and flexible power generation to stabilize the electrical grid. Their enhanced reliability, rapid start-up, low initial cost, and significant heat recovery potential will energize the product demand. Moreover, the increasing focus on unconventional gas resources in line with stringent emission codes and standards will positively sway the business dynamics.
 

The > 1 MW - 2 MW rated reciprocating power generating engine market size will observe a growth of over 3.5% through 2032. The rated capacity is set to grow on account of their low knocking capacity, efficient & combustion, high compression ratios, and reduced maintenance costs. Surging electricity demand across industrial, commercial, and energy sectors along with the robust expansion and development of private utilities, small industries, and cogeneration plants will stimulate the industry growth. The rising consumer preference for reliable and affordable backup power solutions will complement the deployment of these units.
 

Asia Pacific reciprocating power generating engine market is set to surpass USD 15 billion by 2032. Burgeoning investment by the key industry private and public players to enhance engine capacities in association with a positive inclination toward energy-efficient units will influence the engine deployment. Moreover, stringent government initiatives including policies and schemes toward minimizing emission reductions, improved power density, and enhanced fuel efficiency will augment the product utilization across the region.
 

U.S. reciprocating power generating engine market is poised for significant growth owing to increasing adoption of cogeneration technologies and integration of renewable energy sources. Surging infrastructure investment and robust growth in data centers in line with increasing electricity demand in remote locations comprising of oil & gas, mines, and construction sites will accelerate the industry scenario. Continuous efforts by the respective government authorities to promote electrification programs coupled with increasing power outages will fuel the business growth.
 

Reciprocating Power Generating Engine Market Share

Wärtsilä develops & produces advanced technologies & solutions for marine, power engines, and O&G sectors. The company’s marine solutions include ship designs for special vessels, merchant vessels, fishing vessels, offshore vessels, and ferries. It offers turnkey solutions to its marine customers, which include the reduction of VOC, NOX, CO, SOX & oily wastewater treatment, and other water-related solutions. The O&G segment comprises both onshore & offshore solutions including storage & distribution, power generation, LNG infrastructure, and transport services.
 

Reciprocating Power Generating Engine Market Companies

The key industry players include:

• Ashok Leyland
• Briggs & Stratton
• Caterpillar
• Cummins
• Deere & Company
• Deutz AG
• Enerflex
• Escorts Limited
• General Electric
• Guascor Energy
• Kawasaki Heavy Industries Ltd.
• Kirloskar Oil Engines Limited
• Kohler Engines
• MAN Energy Solutions
• Mitsubishi Heavy Industries, Ltd.
• Rolls-Royce plc
• Scania
• TRITON DURO
• Wartsila
• YANMAR HOLDINGS CO., LTD.
   

Reciprocating Power Generating Engine Industry News

• In February 2024, Wärtsilä announced a collaboration with the City of Farmington, New Mexico, to supply equipment for an 18 MW expansion of an existing power plant. This project, leveraging reciprocating internal combustion engine technology, will utilize natural gas, replacing capacity lost from a recently closed coal-fired plant. Aligning with global clean energy initiatives, Wärtsilä's versatile 34SG gas engines will also be capable of operating on synthetic methane, biogas, and hydrogen blends.
   
• In April 2024, Kawasaki Heavy Industries, Ltd. announced the initiation of modifications for Japan's inaugural full-scale verification testing facility, aimed at utilizing 30% hydrogen mixed-fuel combustion in an 8 MW class gas engine for power generation. The project will adapt a 7.5 MW gas engine currently operational at Kobe Works for city gas fuel, modifying it to accommodate mixed-fuel combustion with hydrogen. Scheduled for completion in May 2024, the facility is set to commence mixed-fuel operations by October of the same year, marking a significant advancement towards hydrogen-based power generation in Japan.
   

This reciprocating power generating engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” “MW” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Fuel Type

• Gas-fired
  • 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
• Diesel-fired
  • 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
• Dual fired
  • 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
• Others
  • 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

Market, 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

Market, By Application

• Industrial
• CHP
• Energy & utility
• Landfill & biogas
• Others

Market, By End Use

• Backup
  • 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
• Prime 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

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Denmark
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Thailand
  • Singapore
  • Indonesia
  • Malaysia
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • Oman
  • Kuwait
  • Iran
  • Egypt
  • Turkey
  • Jordan
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Chile
  • Peru