Internal combustion engine manufacturing industry is continuously evolving with innovations in various types of internal combustion engines offerings to support energy requirements and meet emission targets. Rising demand for low-emission, fuel-efficient engines to reduce air pollution, and the advent of special internal combustion engines in the manufacturing, utilities, and remote generation application sectors are the key factors propelling the internal combustion engine market growth. Also, natural gas powered internal combustion engines with improved electric efficiency and low emissions are creating substantial growth opportunities for the market players. The internal combustion engine manufacturers are focusing offering advanced products to address the rising demand for high power outputs, meeting diesel engine standards. Major heavy industries, remote power plants, and automobile manufacturing companies are selecting high-power internal combustion engines due to enhanced electric efficiency and reduced fuel costs. The use of natural gas in internal combustion engines combustion technology can resolve the emission problems, along with assisting customers in meeting new regulatory norms. There is an increase in the adoption of internal combustion engines in South America, Africa, and Asia, while North America and Europe are focusing on adopting alternate fuel for power generation during the forecast period.
CUMMINS, WARTSILA, KAWASAKI HEAVY INDUSTRIES, MAN SE AND ROLLS-ROYCE POWER SYSTEM AG – PROMINENT MARKET PARTICIPANTS IN INTERNAL COMBUSTION ENGINE MARKET
The global Internal combustion engine market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. APAC holds the dominant share in the Internal combustion engine market, whereas Europe is expected to be the fastest-growing region in the global market. Strong adoption of the internal combustion engines for industrial utilities, marine sector, and power generation sector is likely to drive the European internal combustion engine market. Also, there is a strong presence of prominent engine manufacturers in European region such as INNIO, Rolls Royce, and MAN SE, which is bolstering the growth of internal combustion engine market in the region. Among all the types of internal combustion engines based on fuel type, natural gas fueled engines are predominating the European market. Stringent pollution norms and rising diesel engine pollution is promoting the industries and utility sector to use natural gases for engines over diesel or gasoline. Further, companies are developing advanced internal combustion engines, majorly for power generation. For instance, in December 2020, Rolls-Royce, a UK-based company, introduced a new MTU internal combustion engine Series 500 which delivers up to 42.6% efficiency with a power single-cylinder range of 250 to 550 kilowatts. These new gas fueled internal combustion engines are specifically developed for power generation applications for industrial and utility sectors. Similarly, MAN SE company introduced a 20.7 MW internal combustion engine at the POWER-GEN Europe event, which is an enhancing the power output ratio for the power generation market.
The top five companies in the Internal combustion engine market include Cummins, Wartsila, Kawasaki Heavy Industries, Man SE and Rolls-Royce Power System AG. The above listing of key players is derived by considering multiple factors such as overall revenue, current Internal combustion engine portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. Major players operating in the global internal combustion engine market include Caterpillar Inc.; Cummins Inc.; Fairbanks Morse, LLC; Kawasaki Heavy Industries, Ltd.; INNIO Group; MAN SE; Wärtsilä Corporation; Rolls Royce plc.; Yanmar Holdings Co. Ltd.; and Scania, among others.
Companies operating in U.S. region are consistently adopting new technologies to improve the level of fuel consumption, fuel efficiency and performance. The country is actively producing natural gas and thus the internal combustion engines manufacturing companies are focusing on developing gas engines for energy-efficiency and controlled emissions. There is a presence of world-class manufacturers of internal combustion engines in the country which are dominating global as well as domestic market.
There is a rise in the usage of internal combustion engines in the North American region, owing to supporting policies and infrastructure. Further, requirement for internal combustion engine generators from utilities, such as power grids and IPPs, is supposed to see substantial growth due to rising demand for electricity.
