Small Internal Combustion Engine Market Forecast to 2027 –
New York, February 23, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Small Internal Combustion Engine Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Fuel Type, Cylinders, Horsepower Release and End Use Industry ”- https://www.reportlinker.com/p06027564/?utm_source=GNW
The United States, Canada, and Mexico are the major economies in North America. Technological advancements have led to a highly competitive market in the region as the population is attracted by several technological developments due to high purchasing powers.
With the increasing adoption of passenger vehicles, the auto industry is constantly booming in the region. Lawn and garden equipment and other electrical equipment have found a large user base in North America.
The small motor IC allows manufacturers to offer machines or tools with a small form factor, such as compact cars, lawn mowers and advanced small generators. In addition, the increasing adoption of natural gases creates many opportunities for market players to develop an advanced small engine with high power and efficiency.
The strong adoption of IC motors in commercial vehicles, passenger vehicles and utility equipment is driving the European market for small IC motors. The engine manufacturing sector, led by Germany due to the presence of leading engine manufacturers, such as Hatz, DEUTZ and Yanmar Co., Ltd., is the largest contributor to the market in Europe. The increasing pollution standards and the growing concerns about the pollution of small IC engines have increased the adoption of natural gases for engines is increased in the market. In addition, companies are developing advanced small motor IC mainly for small utility motor applications. For example, in March 2020, Motorenfabrik Hatz, a company based in Germany, introduced new E1 technology for single-cylinder industrial diesels. This new engine based on E1 technology delivers 14.7 horsepower (11 kilowatts) with a single cylinder. Likewise, the 1B50E and 1B30E engines deliver 10.7 horsepower (8 kilowatts) and 6.7 horsepower (5 kilowatts), respectively. Such increasing development of solution offering increases market growth in industrial industry and other end uses.
The growing number of manufacturing companies in India and China due to the high availability of skilled human resources is boosting the small internal combustion engine market. Increasing sales of two-wheelers and advancements in sources of motor fuel are supporting the growth of the market.
In addition, the increasing population in the region and the relatively weak economic capacities of various countries have favored the adoption of internal combustion engines rather than electric power. The high cost of electric motors and the lack of supporting infrastructure have supplemented the growth of the market.
Governments of various countries in the region mainly encourage the use of natural gas in internal combustion engines for low emissions. Therefore, some policies promote market growth in the region to meet regulatory standards by using natural gas as the primary source in small engines.
In addition, in July 2019, the Indian Minister of Transport assured that there would be no ban on thermal engines to promote vehicles and electric motors. The lack of support infrastructure and consumer purchasing capacity limits the electricity revolution in the country. Thus, adopting small IC motors becomes a preferable solution for customers as it meets regulatory standards with required performance.
Caterpillar; Cummins Inc .; Fairbanks Morse; INNIO; Kawasaki Heavy Industries, Ltd; Liebherr Group; MITSUBISHI HEAVY INDUSTRIES, LTD. ; Rolls-Royce plc; Wärtsilä; and Yanmar Holdings Co., Ltd. are among the major players in the global small internal combustion engine (ICE) market.
Impact of the COVID-19 pandemic on the small internal combustion engine (ICE) market
The COVID-19 epidemic, which began in Wuhan, China in December 2019, has spread across the world. It has severely affected China, Italy, Iran, Spain, Republic of Korea, France, Germany and the United States in terms of confirmed positive cases and deaths reported in 2020.
The COVID-19 outbreak has affected economies and industries in various countries as it resulted in lockdowns, travel bans and business closures. The global market disruption due to COVID-19 is also affecting the growth of the small internal combustion engine (ICE) market due to plant closures, disrupted supply chain and the downturn in the global economy.
The overall market size for small internal combustion engines (ICE) has been calculated based on primary and secondary sources. To begin the research process, an exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
In addition, several primary interviews were conducted with participants and industry commentators to validate the data, as well as to gain more analytical information on the topic. Participants who typically take part in such a process include industry experts, such as vice presidents, business development managers, business intelligence managers and national sales managers, as well as external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the small internal combustion engine (ICE) market.
Read the full report: https://www.reportlinker.com/p06027564/?utm_source=GNW
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