Reciprocating 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 (Diesel, Gas), By Application (Power, Marine, Mechanical), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Reciprocating engine market size exceeded USD 34 billion in 2020 and annual installation is anticipated to surpass 65 GW by 2027. Increasing government focus to reduce environmental pollution in line with implementation of government emission policies will boost the industry growth. Surging investments toward sustainable energy technologies along with ongoing rural electrification programs primarily across emerging economies will fuel the industry landscape. In addition, rising natural disasters including floods, hurricanes, and windstorms along with upsurge in sustainable energy technologies will boost the product demand.
 

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Expansion of small-scale industries & commercial establishments will augment the >2 MW - 3.5 MW reciprocating engine industry demand

> 1 MW – 2 MW reciprocating engine market is anticipated to grow at a rate of over 3% through 2027. Paradigm shift toward deployment of smaller power units for industrial and marine applications will stimulate the industry outlook. Aging grid infrastructure, increasing power failure and growing electricity demand across remote areas will complement the business outlook. Moreover, increasing consumer focus toward reliable & affordable backup power solutions will positively influence the business scenario.
 

Increasing data usage through social networking & smartphones, government projects, and e-commerce platforms is set to drive the >2 MW - 3.5 MW reciprocating engine demand. Rapid expansion of small-scale industries, commercial establishments and cogeneration plants will complement the business trends. The transition from conventional to the clean fuels with an aim to comply with stringent government norms has further strengthened the product portfolio.
 

Growing industrialization activities along with increasing investment toward oil & gas sector will propel the industry scenario

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Increasing digitalization across industrial sector coupled with growing significance of power backup solutions will energize the industry dynamics. Rising disposable income followed by upsurge in combined cycle generation plants will complement the business landscape. Increasing applicability across heavy commercial vehicles, railway locomotives and ships will further accelerate the product demand. Stringent government emission to curtail GHG emissions across the manufacturing sector will drive the adoption of these engines. Furthermore, growing demand for continuous and reliable power for operation of equipment and job site tools in construction sector will influence the reciprocating engine market trends.
 

Surging focus toward renewable capacity addition will boost the demand for reciprocating engine across power applications

Growing power failures, surging customer awareness, and amplifying demand load on the main grid are some of the underline parameters supporting the demand for reciprocating engine across power applications. Favorable government policies toward the expansion of grid network across remote areas coupled with shifting consumer focus toward renewable energy technologies is set to foster the market forecasts.
 

Increasing electricity demand on account of rapid industrialization, developing commercial sector and energy utility applications has instituted a positive industry scenario. Ongoing replacement of conventional electricity generation systems with renewable power plants across manufacturing industries will accelerate the business outlook. Moreover, growing adoption of gas fired system on account of low emission properties will stimulate the product demand.
 

Gas-based reciprocating engine market will grow on account of ongoing adoption of low emission fuel

The gas-fired reciprocating engine industry size exceeded USD 11 billion in 2020. Increasing focus toward combine cycle generation has created a shift in the industry which in turn will create favourable opportunities, thereby strengthening the market share. Ongoing exploration of shale deposits coupled with shifting trends toward the unconventional gas resources will facilitate the business landscape. Environmental regulations to overcome the intrinsic downside of the existing emission levels will considerably drive the industry size.
 

Surging adoption of smart heating networks in line with growing penetration of integrated electrical and heat power generation systems will considerably drive the industry demand. Growing consumer focus toward increased fuel efficiency, power density improvements and reduced emissions will encourage the product adoption. Furthermore, growing demand for reliable and continuous power supply coupled with increasing susceptibility of grid networks to external damage will substantially continue to escalate the business growth.
 

Expansion of shipping routes will stimulate the marine reciprocating engine demand

The marine reciprocating engine market is projected to surpass USD 20 billion by 2027. Increasing seaborne trade along with development of shipping routes primarily across the developing nations will energize the industry dynamics. Favorable government policies to strengthen the national security with advanced shipping lines will support the business growth.
 

The global economy has been hit hard by an unexpected outbreak of COVID- 19. According to the World Health Organization, the coronavirus has impacted more than 125 nations and has also caused lockdowns in a few countries, in turn, limiting the business growth. However, rapid growth in the expansion of healthcare & commercial sector and development of grid infrastructure will create additional prospects for the deployment of the engines.
 

Asia Pacific market is set to dominate the overall industry scenario

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Asia Pacific accounted for over 40% of the total market share in 2020. Lack of reliable electricity network along with robust growth in inland shipping has provided favorable business scenario for industry expansion. Growing consumer inclination toward sustainable power generation plants coupled with ongoing expansion of small-scale industries will amplify the industry scenario. Supportive regulatory reforms and increasing funding toward rural electrification across emerging economies will escalate the business landscape.
 

Growing focus toward infrastructure development, rising need for quick start power generation and burgeoning demand for electricity will favor the deployment of reciprocating engines across Japan. Stringent government policies to encourage the use of CHP in order to reduce emissions will positively impact the industry landscape. Booming telecom sector & robust development of datacenters coupled with increasing investments across manufacturing industry will positively impact the business outlook.
 

North America reciprocating engine market will grow at a rate of over 3% through 2027. Increasing focus on the gas-based plants along with extended power outages caused by the weather-related disasters have substantially widened the deployment spectrum for these systems. The growing focus toward infrastructure development, rising need for quick start power generation and burgeoning demand for electricity will complement the industry outlook. Furthermore, introduction of various state policies to encourage the use of CHP owing to their improved resiliency and ability to mitigate disasters will positively impact the industry landscape.
 

Product innovation and ongoing mergers & acquisition will act as a crucial point for market participants

The key players are directing toward digital advancements coupled with merger and acquisition to meet the competition prevailing in the reciprocating engine industry. The major participants are laying prominence on economies of scale and backward integration for sustaining quality standards. Major companies operational across reciprocating engine market includes Wärtsilä, Mitsubishi Heavy Industries, Siemens, MAN Energy Solutions, John Deere, Caterpillar, JCB, Cummins, Kirloskar Oil Engines, Briggs & Stratton, Ashok Leyland, Kawasaki Heavy Industries, Escorts, DEUTZ, Yanmar Holdings, Kohler, INNIO, Hyundai Heavy Industries, Rolls-Royce, GE Transportation, Fairbanks Morse, and IHI Power Systems.
 

Reciprocating engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027, for the following segments:

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By Fuel Type

• Gas-fired
• Diesel-fired
• 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