Internal Combustion Engine Market Research Insights 2023-29
The global internal combustion engine market size was valued at USD 235.3 billion in 2022 and grow at a CAGR of 5.9% during the forecast period 2023-2029. Internal-combustion engine, any of a group of devices in which the reactants of combustion (oxidizer and fuel) and the products of combustion serve as the working fluids of the engine. Such an engine gains its energy from heat released during the combustion of the nonreacted working fluids, the oxidizer-fuel mixture. This process occurs within the engine and is part of the thermodynamic cycle of the device. Useful work generated by an internal-combustion (IC) engine results from the hot gaseous products of combustion acting on moving surfaces of the engine, such as the face of a piston, a turbine blade, or a nozzle.
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The global internal combustion engine market segmentation:
1) By Product Type: Petroleum, Natural Gas, Others.
2) Application: Automotive, Aircraft, Marine. Others
Automotive Accounted for Higher Revenue Share in Global Internal Combustion Engine Market: Based on application type, global Internal Combustion Engine market is segmented into automotive, aircraft, marine, others. Automotive is accounted for higher revenue. Automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, such as engines and bodies, but excluding tires, batteries, and fuel. The industry’s principal products are passenger automobiles and light trucks, including pickups, vans, and sport utility vehicles. Commercial vehicles, though important to the industry, are secondary.
North America leads the Global Internal Combustion Engine Market:
Based on regional analysis, global Internal Combustion Engine market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global Internal Combustion Engine market contributed the largest share in 2021. The development of the internal combustion engine helped to free men from the hardest manual labor, made possible the airplane and other forms of transportation, and helped to revolutionize power generation boosting the market spontaneously. In 2018, jet fuel consumption from the transportation sector in the United States amounted to some 2.95 quadrillion British thermal units.
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Key player’s profiles in the global Internal Combustion Engine Market are: Toyota Motor Corporation, AGCO Corporation, Volkswagen AG, MAN SE, Ford Motor, Fiat SpA, General Motors, Volvo AB, Caterpillar Incorporated, Rolls-Royce Holdings plc, Shanghai Diesel Engine Company Limited,
Renault SA, Mitsubishi Heavy Industries, Bosch, Mahindra and Mahindra Limited.
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