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Reciprocating Engine Market Size

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

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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.

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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.

Reciprocating Engine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Reciprocating Engine Market Size in 2023:	USD 70.5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5%
2032 Value Projection:	USD 110.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	400
Tables, Charts & Figures:	620
Segments covered:	Fuel, Rated Power, Application
Growth Drivers:	Inclination toward energy optimization Expansion in seaborne trade Growing investment toward power generation capacity expansion Robust industrial sector growth
Pitfalls & Challenges:	High initial investment

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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.