Recent Internal Combustion Engine Market Industry
The global internal combustion engine market size is expected to be valued at USD 235.3 billion in 2022 and grow at a CAGR of 5.9% over the forecast period. Internal combustion engine, any device of a group of devices in which combustion reactants (oxidant and fuel) and combustion products serve as the working fluids of the engine. Such an engine draws its energy from the heat released during the combustion of the unreacted working fluids, the oxidizer-fuel mixture. This process occurs in the engine and is part of the thermodynamic cycle of the device. The useful work generated by an internal combustion (IC) engine results from the hot gaseous combustion products acting on the engine’s moving surfaces, such as the face of a piston, turbine blade, or nozzle.
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Automotive accounted for a higher revenue share in the global internal combustion engine market:
Based on type of application, the global internal combustion engine market is segmented into automotive, aircraft, marine, others. The automobile is counted for higher income. Automotive industry means all businesses 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 main products are passenger cars and light trucks, including pickup trucks, vans and sport utility vehicles. Utility vehicles, while important to industry, are secondary.
North America leads the global internal combustion engine market:
Based on regional analysis, the global internal combustion engine market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The global internal combustion engine market in North America contributed the largest share in 2021. The development of the internal combustion engine helped free men from the hardest manual labor, made possible the aircraft and d other forms of transportation, and helped revolutionize electricity generation by stimulating the market spontaneously. In 2018, jet fuel consumption by the transport sector in the United States was some 2.95 quadrillion British thermal units.
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Global internal combustion engine market segmentation based on product type, application and region:
By product type
• Natural gas
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Profiles of key players 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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