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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 (Power, Marine, Mechanical) & Forecast, 2024 – 2032

  • Report ID: GMI4890
  • Published Date: Jun 2023
  • Report Format: PDF

Reciprocating Engine Market Size

Reciprocating Engine Market size exceeded USD 70.5 billion in 2023 and is estimated to register over 5% CAGR between 2024 and 2032. A reciprocating engine is an internal combustion engine that converts the energy from burning fuel into linear motion. It works by using a piston within a cylinder to compress a fuel-air mixture, which is then ignited by a spark plug. The resulting combustion drives the piston downward, producing rotational motion through a crankshaft. This motion is used to power various machines, such as automobiles and small aircraft.

Reciprocating Engine Market

Increasing demand for power generation aligned with surging investments in infrastructure development will continue to entail the product deployment. The rising demand for these engines has been enhanced by the transition from conventional fuels to clean fuels, driven by the need to meet strict government regulations. Growing demand for units in marine applications along with shifting focus toward energy efficiency and reduced operational costs will further accelerate the industry growth.

COVID– 19 Impact

The COVID-19 pandemic will have considerable impact on overall industry growth. The current scenario demonstrates the realistic view of the market, affecting the overall demand for the engines. Shortage of manpower in line with the potential supply chain blockages of equipment & raw material, will affect the global trade. Moreover, the ongoing R&D toward the development of vaccine or medication to curb the spread of this disease has positively impacted the product demand worldwide.

Reciprocating Engine Market Trends

The demand for these engines continues to rise due to their versatile applications in power generation, marine operations, and mechanical systems. The product offers key advantages including modular design, quick startup, and ability to run on different fluids make them highly sought-after, accelerating the industry potential. Additionally, there is a growing emphasis on expanding the grid in rural areas, supported by regulatory measures, as well as increasing recognition of the importance of emergency preparedness solutions among end users. The surging government electrification programs primarily across Africa and Asia Pacific, will further fuel the demand for these engines.

Reciprocating Engine Market Analysis

Reciprocating Engine Market Size, By Rated Power,

Based on rated power, the market is segmented as 0.5 MW - 1 MW, > 1 MW - 2 MW, > 2 MW - 3.5 MW, > 3.5 MW - 5 MW, > 5 MW - 7.5 MW and > 7.5 MW. The > 2 MW - 3.5 MW rated reciprocating engine market size will witness growth rate of 4.5% by 2032. Government investments aimed at enhancing national security and strengthening shipping lines will favor the business scenario. The expansion and opening of key shipping routes, particularly choke points, have led to an increase in merchant vessels, further escalating the industry growth.

Furthermore, the growing demand from data centers, driven by the increasing use of social networking platforms, smartphones, government initiatives, and e-commerce platforms, will have a positive impact on the industry.

Reciprocating Engine Market Revenue Share, By Fuel,

Based on fuel, the market is segmented as gas, diesel, and others. The gas reciprocating engine market holds a market share of over 20% in 2022. The increasing demand for distributed power generation together with expansion of small scale and medium scale industrial facilities will augment the business landscape. The shifting trends toward the unconventional gas resources and stringent emission regulations will favor the adoption of these engines. These engines offer several benefits that create favorable opportunities in the market including low initial cost, demonstrated reliability, quick start-up capabilities, substantial heat-recovery potential, and optimal load-following characteristics.

Based on application, the reciprocating engine market is segmented as power, marine and mechanical. The marine application is set to surpass USD 40 billion by 2032. Ongoing adoption of dual-fuel engines along with expansion of offshore & subsea applications including drilling, production, and maintenance activities will complement the business growth. Growth of cruise ship industry aligned with emphasis on fuel efficiency and O&M costs will optimize to achieve reduced expenses for shipowners, will in turn foster the industry growth.

Europe Reciprocating Engine Market Size,

Europe reciprocating engine market was valued at over USD 16 billion in 2022. Shift towards cleaner fuels along with decentralized energy generation for microgrids and local power plants is driving the demand for reciprocating engines. Increasing commercial and construction activities in Eastern Europe and the Nordic region will energize the business dynamics. Environmental and emission regulations, including the proposed introduction of the EU Stage V limits, will have a significant impact on the industry landscape. This directive has prompted industry players to shift towards cleaner power sources and develop eco-friendly and cost-saving products using alternative and lightweight materials. The demand for comfort, luxury, and reliable engines, as well as economic stability, are key factors that will drive the installation of these engines.

Reciprocating Engine Market Share

The major players operating in the reciprocating engine market includes:

  • Wärtsilä
  • Caterpillar
  • Cummins
  • Rolls-Royce plc
  • General Electric
  • Kawasaki Heavy Industries
  • Guascor Energy
  • Motorenfabrik Hatz GmbH & Co. KG
  • KUBOTA Corporation
  • J C Bamford Excavators
  • Lister Petter
  • Perkins Engines Company Limited
  • AB Volvo Penta
  • Escorts Limited

Reciprocating Engine Industry News

  • In January 2023, Wärtsilä to deliver six 50SG engines for a new balancing power plant in North Dakota, USA. The engines' fast starting and stopping capabilities enable them to reach full power output within minutes, ensuring a stable and reliable electricity supply, regardless of weather conditions. The delivery of Wärtsilä equipment is planned for early 2024, and the power plant is expected to be operational by summer 2025.
  • In October 2022, AB Volvo Penta has entered a strategic partnership with Anderson Industrial Engines, a long-standing engine distributor in the U.S., focusing on the West Coast region. This collaboration aims to enhance customer support and maximize equipment uptime for Volvo Penta's customers. By leveraging Anderson Industrial Engines' expertise and experience, Volvo Penta will be able to strengthen its product offerings and introduce new technologies in the West Coast market.

This reciprocating engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD” from 2019 to 2032, for the following segments:

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By Fuel

  • Gas
  • Diesel
  • Others

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

  • Power
  • Marine
  • Mechanical

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

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


Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of reciprocating engine was valued at USD 70.5 billion In 2023 and will grow at more than 5% CAGR from 2024 to 2032, owing to a noticeable rise in investments across the infrastructure space.

The reciprocating engine market size from the marine application segment will reach over USD 40 billion by 2032 on account of the growing popularity of dual-fuel engines and the rapid expansion of subsea & offshore applications.

European market for reciprocating engine size reached over USD 16 billion in 2022, attributed to the growing commercial and construction activities in Eastern Europe and the Nordic region.

Some leading manufacturers of reciprocating engine include General Electric, Guascor Energy, Motorenfabrik Hatz GmbH & Co. KG, J C Bamford Excavators, Perkins Engines Company Limited, Kawasaki Heavy Industries, KUBOTA Corporation, and Lister Petter, among others.

Reciprocating Engine Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 33
  • Tables & Figures: 620
  • Countries covered: 33
  • Pages: 400
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