Global Internal Combustion Engine (ICE) Market Size, Trends, By Fuel (Petroleum, Natural Gas), By End-Use (Automotive, Aircraft, Marine), By Application (Automotive, Non-Automotive) and By Region (North America, Latin America, Europe, Asia Pacific, Central America and Africa): Global Opportunity Analysis and Industry forecast, 2023-2030.
Global Internal Combustion Engine (ICE) Market
With a CAGR of 4.81 % from 2023 to 2030, the Global Internal Combustion Engine (ICE) Marketis expected to grow from its estimated value of US$ 62903 Bn in 2022 to US$ 98004 Bn by 2030.
Several types of cars use internal combustion engines as their power source. It functions by burning petrol or oil to create heat, which is then transformed into power to move the cars it is installed in. In this configuration, an oxidizer is housed in a chamber where it interacts with the combustion process.
Market Drivers
One of the key factors propelling the growth of the internal combustion engine (ICE) market is the increase in government activities towards emission reduction to control pollutants. The market benefits when manufacturers increase their investments to fulfil government criteria.
The market's expansion is accelerated by the growing use of diesel oxidation catalysts (DOC) for the conversion of water and carbon dioxide (CO2) from hydrocarbons and carbon monoxide (CO). This catalyst reduces particulate matter (PM) by destroying harmful waste in the engine's exhaust stream.
Due to their greater fuel economy, toughness, and dependability, diesel engines are increasingly preferred over petrol engines, which has a positive impact on the market.
Additionally, the market for internal combustion engines (ICEs) is positively impacted by the growth of the automotive industry, a surge in investments, and rising disposable income.
Market Restraints
Reduced nitrogen oxides (NOx), particulate matter (PM), and reduced specific fuel consumption are all benefits of LTC technology. Before LTC technology is extensively used in car engines, managing ignition time and heat release rate (HRR) are substantial challenges that must be overcome. Due to the advancement of alternative energy and hybrid vehicle technologies, internal combustion engines are no longer the only option for vehicle power trains. One of the main issues limiting market growth is the increasing adoption of EVs (electric vehicles), as well as the growing scarcity of fossil fuel reserves, which has an impact on the price of petroleum products.
Market Segmentation
The scope of the Global Internal Combustion Engine (ICE) Market covers segmentation based on By Fuel, By End-Use, By Application and By Region.
By Fuel, the market is segmented into Petroleum, Natural Gas. By End-Use, the market is segmented into Automotive, Aircraft, Marine. By Application, the market is segmented into Automotive, Non-Automotive.
Regional Analysis
The Global Internal Combustion Engine (ICE) Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Because of the rising demand for the product from several end-use verticals like construction, mining, agriculture, and power generation, Asia-Pacific (APAC) dominates the internal combustion engine (ICE) market.
Due to the high rate of car adoption in the region, North America is predicted to experience significant growth during the forecast period.
Key Players
AGCO Corporation, ASHOK LEYLAND, Hino Motors, Ltd., Bosch Limited Caterpillar, Cummins Inc., Ford Motor Company, Kirloskar Oil Engines Ltd., General Motors, Mahindra & Mahindra Ltd., Navistar, Inc.
Market Taxonomy
By Fuel
• Petroleum
• Natural Gas
By End-Use
• Automotive
• Aircraft
• Marine
By Application
• Automotive
• Non-Automotive
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Global Internal Combustion Engine (ICE) Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Internal Combustion Engine (ICE) Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn.
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Internal Combustion Engine (ICE) Market, By Fuel
5.1 Y-o-Y Growth Comparison, By Fuel
5.2 Global Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
5.3 Global Internal Combustion Engine (ICE) Market Size and Forecast, By Fuel
5.3.1 Petroleum
5.3.2 Natural Gas
6 Global Internal Combustion Engine (ICE) Market, By End-Use
6.1 Y-o-Y Growth Comparison, By End-Use
6.2 Global Internal Combustion Engine (ICE) Market Share Analysis, By End-Use
6.3 Global Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
6.3.1 Automotive
6.3.2 Aircraft
6.3.3 Marine
7 Global Internal Combustion Engine (ICE) Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Internal Combustion Engine (ICE) Market Share Analysis, By Application
7.3 Global Internal Combustion Engine (ICE) Market Size and Forecast, By Application
7.3.1 Automotive
7.2.2 Non-Automotive
8 Global Internal Combustion Engine (ICE) Market, By Region
8.1 Global Internal Combustion Engine (ICE) Market Share Analysis, By Region
8.2 Global Internal Combustion Engine (ICE) Market Size and Forecast, By Region
8.3 Global Internal Combustion Engine (ICE) Market Trends and Forecast, By Region
9 North America Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
9.3 North America Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
9.4 North America Internal Combustion Engine (ICE) Market Size and Forecast, By Application
9.5 North America Internal Combustion Engine (ICE) Market Size and Forecast, By Country
9.5.1 U.S.
9.5.1.1. Market Size and Forecast, By Fuel
9.5.1.2 Market Size and Forecast, By End-Use
9.5.1.3. Market Size and Forecast, By Application
9.5.2 Canada
9.5.2.1. Market Size and Forecast, By Fuel
9.5.2.2 Market Size and Forecast, By End-Use
9.5.2.3. Market Size and Forecast, By Application
9.5.3 Mexico
9.5.3.1. Market Size and Forecast, By Fuel
9.5.3.2 Market Size and Forecast, By End-Use
9.5.3.3. Market Size and Forecast, By Application
10 Europe Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
10.3 Europe Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
10.4 Europe Internal Combustion Engine (ICE) Market Size and Forecast, By Application
10.5 Europe Internal Combustion Engine (ICE) Market Size and Forecast, By Country
10.5.1 Germany
10.5.1.1. Market Size and Forecast, By Fuel
10.5.1.2 Market Size and Forecast, By End-Use
10.5.1.3. Market Size and Forecast, By Application
10.5.2 France
10.5.2.1. Market Size and Forecast, By Fuel
10.5.2.2 Market Size and Forecast, By End-Use
10.5.2.3. Market Size and Forecast, By Application
10.5.3 UK
10.5.3.1. Market Size and Forecast, By Fuel
10.5.3.2 Market Size and Forecast, By End-Use
10.5.3.3. Market Size and Forecast, By Application
10.5.4. Russia
10.5.4.1. Market Size and Forecast, By Fuel
10.5.4.2 Market Size and Forecast, By End-Use
10.5.4.3. Market Size and Forecast, By Application
10.5.5. Italy
10.5.5.1. Market Size and Forecast, By Fuel
10.5.5.2 Market Size and Forecast, By End-Use
10.5.5.3. Market Size and Forecast, By Application
10.5.6. Spain
10.5.6.1. Market Size and Forecast, By Fuel
10.5.6.2 Market Size and Forecast, By End-Use
10.5.6.3. Market Size and Forecast, By Application
10.5.7. Rest of Europe
10.5.7.1. Market Size and Forecast, By Fuel
10.5.7.2 Market Size and Forecast, By End-Use
10.5.7.3. Market Size and Forecast, By Application
11 Asia Pacific Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
11.3 Asia Pacific Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
11.4 Asia Pacific Internal Combustion Engine (ICE) Market Size and Forecast, By Application
11.5 Asia Pacific Internal Combustion Engine (ICE) Market Size and Forecast, By Country
11.5.1 China
11.5.1.1. Market Size and Forecast, By Fuel
11.5.1.2 Market Size and Forecast, By End-Use
11.5.1.3. Market Size and Forecast, By Application
11.5.2 Japan
11.5.2.1. Market Size and Forecast, By Fuel
11.5.2.2 Market Size and Forecast, By End-Use
11.5.2.3. Market Size and Forecast, By Application
11.5.3 India
11.5.3.1. Market Size and Forecast, By Fuel
11.5.3.2 Market Size and Forecast, By End-Use
11.5.3.3. Market Size and Forecast, By Application
11.5.4. South Korea
11.5.4.1. Market Size and Forecast, By Fuel
11.5.4.2 Market Size and Forecast, By End-Use
11.5.4.3. Market Size and Forecast, By Application
11.5.5. Australia
11.5.5.1. Market Size and Forecast, By Fuel
11.5.5.2 Market Size and Forecast, By End-Use
11.5.5.3. Market Size and Forecast, By Application
11.5.6. New Zealand
11.5.6.1. Market Size and Forecast, By Fuel
11.5.6.2 Market Size and Forecast, By End-Use
11.5.6.3. Market Size and Forecast, By Application
11.5.7. Singapore
11.5.7.1. Market Size and Forecast, By Fuel
11.5.7.2 Market Size and Forecast, By End-Use
11.5.7.3. Market Size and Forecast, By Application
11.5.8. Malaysia
11.5.8.1. Market Size and Forecast, By Fuel
11.5.8.2 Market Size and Forecast, By End-Use
11.5.8.3. Market Size and Forecast, By Application
11.5.9. Rest of Asia
11.5.9.1. Market Size and Forecast, By Fuel
11.5.9.2 Market Size and Forecast, By End-Use
11.5.9.3. Market Size and Forecast, By Application
12 Latin America Internal Combustion Engine (ICE) Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
12.3 Latin America Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
12.4 Latin America Internal Combustion Engine (ICE) Market Size and Forecast, By Application
12.5 Latin America Internal Combustion Engine (ICE) Market Size and Forecast, By Country
12.5.1 Brazil
12.5.1.1. Market Size and Forecast, By Fuel
12.5.1.2 Market Size and Forecast, By End-Use
12.5.1.3. Market Size and Forecast, By Application
12.5.2 Argentina
12.5.2.1. Market Size and Forecast, By Fuel
12.5.2.2 Market Size and Forecast, By End-Use
12.5.2.3. Market Size and Forecast, By Application
12.5.3. Colombia
12.5.3.1. Market Size and Forecast, By Fuel
12.5.3.2 Market Size and Forecast, By End-Use
12.5.3.3. Market Size and Forecast, By Application
12.5.4. Peru
12.5.4.1. Market Size and Forecast, By Fuel
12.5.4.2 Market Size and Forecast, By End-Use
12.5.4.3. Market Size and Forecast, By Application
12.5.5. Chile
12.5.5.1. Market Size and Forecast, By Fuel
12.5.5.2 Market Size and Forecast, By End-Use
12.5.5.3. Market Size and Forecast, By Application
12.5.6. Venezuela
12.5.6.1. Market Size and Forecast, By Fuel
13.1 Introduction
13.2 Middle East Internal Combustion Engine (ICE) Market Share Analysis, By Fuel
13.3 Middle East Internal Combustion Engine (ICE) Market Size and Forecast, By End-Use
13.4 Middle East Internal Combustion Engine (ICE) Market Size and Forecast, By Application
13.5 Middle East Internal Combustion Engine (ICE) Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.1.1. Market Size and Forecast, By Fuel
13.5.1.2 Market Size and Forecast, By End-Use
13.5.1.3. Market Size and Forecast, By Application
13.5.2 UAE
13.5.2.1. Market Size and Forecast, By Fuel
13.5.2.2 Market Size and Forecast, By End-Use
13.5.2.3. Market Size and Forecast, By Application
13.5.3 Egypt
13.5.3.1. Market Size and Forecast, By Fuel
13.5.3.2 Market Size and Forecast, By End-Use
13.5.3.3. Market Size and Forecast, By Application
13.5.4 Kuwait
13.5.4.1. Market Size and Forecast, By Fuel
13.5.4.2 Market Size and Forecast, By End-Use
13.5.4.3. Market Size and Forecast, By Application
13.5.5 South Africa
13.5.5.1 Market Size and Forecast, By Fuel
13.5.5.2 Market Size and Forecast, By End-Use
13.5.5.3 Market Size and Forecast, By Application
13.5.5 Rest of Middle East & Africa
13.5.6.1 Market Size and Forecast, By Fuel
13.5.6.2 Market Size and Forecast, By End-Use
13.5.6.3 Market Size and Forecast, By Application
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 AGCO Corporation
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 ASHOK LEYLAND
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Hino Motors, Ltd.
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Bosch Limited Caterpillar
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Cummins Inc.
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 C Ford Motor Company
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Kirloskar Oil Engines Ltd.
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 General Motors
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Mahindra & Mahindra Ltd.
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Navistar, Inc.
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
