Small Internal Combustion Engines (ICE) Market Worth in US Dollars

Small internal combustion engine (ICE)

Small Internal Combustion Engine (ICE) Market was valued at US$4,450.14 Million in 2019 and is projected to reach US$5,280.83 Million by 2027; it is expected to grow at a CAGR of 4.5% from 2020 to 2027.

The small internal combustion engine market in Europe is further segmented into UK, Germany, Italy, France, Russia and Rest of Europe. Germany, the United Kingdom, France and Italy are at the forefront of the European internal combustion engine market. High adoption of internal combustion engines in commercial vehicles, passenger vehicles and utility equipment is driving the European small internal combustion engine market. 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. Rising pollution standards and growing concerns about pollution from small internal combustion engines have increased the adoption of natural gases for engines in the market.

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Also, companies are developing advanced small IC motors, mainly for small utility motor applications. For example, in March 2020, the German company Motorenfabrik Hatz introduced new E1 technology for single-cylinder industrial diesel engines. This new engine based on E1 technology delivers a power of 14.7 horsepower (11 kilowatts) with a single cylinder. Similarly, the 1B50E and 1B30E engines offer 10.7 horsepower (8 kilowatts) and 6.7 horsepower (5 kilowatts) respectively. Such growing development of solution offering is driving market growth in industrial sector and other end-use industries.

Although the market is growing at a significant rate in Europe, the advent of electric motors in the region is likely to hamper the growth of the market. The automotive industry has already started to switch to electric power, which is hampering the heat engine market. In the coming years, it would replace small combustion engines with battery-powered electric motors. For example, the Opplysningsradet for Veitrafikken (OFV), Norway’s road traffic information board, said new electric car sales accounted for 66.7%. Such increasing customer shift towards clean energy solution could be the challenging factor for the market. The market is expected to hold a stronger position during the forecast period as some countries are delaying the adoption of electric power due to lack of supporting infrastructure and sufficient energy supply. For example, Germany does not ban combustion engines until 2035 to help the engine manufacturing industry develop advanced engines with lower emissions and help the country meet its low emissions targets.
Technological advancements across Asia-Pacific have led to a highly competitive market. Asia-Pacific attracts several technological developments from economically robust countries.

Businesses in the region are continuously improving overall business processes to best meet customer demand for high quality products and services. The presence of leading companies, such as Caterpillar, Yanmar Holdings Co., Ltd, and Kawasaki Heavy Industries, among others, in the region, the significant presence of early technology adopters in the region, and the widespread adoption of lawnmowers turf in China and India are among the factors predicted to drive the growth of the small internal combustion engine market. For example, in April 2019, Honda Motor Europe Ltd. launched a new line of premium HRX lawn mowers. Specially designed lawnmowers are equipped with small motors with a power of less than 5 kW. In addition, the growing demand from the industrial sector in the Asian region also complements the growth of the market. In October 2019, YANMAR HOLDINGS CO., LTD announced the development of the 3TNV80FT industrial engine, which is supported by the 2G Eco Governor supercharging solution. Additionally, the strong dominance of internal combustion engines in the region is expected to fuel the market growth over the forecast period. According to Bosch Ltd, 80% or more of vehicles sold in India by 2030 will still be powered by internal combustion engines. Nevertheless, expensive electric motors still favored internal combustion engines in developing countries.

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The global small internal combustion engine market is segmented on the basis of fuel type, cylinders, power output, end-use industry, and geography. The market, based on fuel type, the market is segmented into gasoline, diesel, and gas. On the basis of transmission network, the market is segmented into owned network and leased network. The gasoline segment is further sub-segmented into compressed natural gas (CNG), liquefied petroleum gas (LPG) and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1-5 kW, 6-10 kW, and 11-20 kW. In terms of end-use industry, the market is segmented into power generation, manufacturing, oil & gas, transportation, and others. The small internal combustion engine market, by region, is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

The current market is dominated by several small and medium regional market players; however, the global market includes a number of prominent players in the market. Some of the significant market initiatives and market contract developments are mentioned below:

Main results of the study:

Developing countries, such as India, China, and Brazil, rely heavily on fossil fuels for electricity, automobiles, manufacturing, transportation, and other sectors. Rising population and lack of supporting infrastructure for electric technologies are major factors supporting the small internal combustion engine market. Electric motors, electrical appliances and cars are even more expensive for customers than internal combustion engines. As a result, due to price constraints, countries are not implementing any bans on internal combustion engines, which is supporting the growth of the market. According to World Bank Group data on access to electricity, in South Asia about 91.6% of the population has access to electricity. Also, electricity consumption for basic uses in countries such as China and India is increasing with increasing population, which is why countries use fossil fuels to generate electricity. Such dominance of internal combustion engines in developing countries creates opportunities for the market to offer advanced solutions. For example, according to Bosch Ltd, 80% or more of vehicles sold in India by 2030 would still be powered by internal combustion engines. The dependence of developing countries on fossil fuels and internal combustion engines is a strong growth opportunity for the market.

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