The internal combustion engine (ICE) market is forecasted to grow by USD 28.3 bn during 2023-2028, accelerating at a CAGR of 8.09% during the forecast period. The report on the internal combustion engine (ICE) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand to improve vehicle performance., increasing vehicle population, and high growth volume for premium vehicle segment.
Technavio's internal combustion engine (ICE) market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
7.39%
CAGR
8.09%
Incremental Value
$28.3 bn
By End-user
Automotive
Aircraft
Marine
By Type
Petroleum
Natural gas
By Geographical Landscape
APAC
Europe
North America
South America
Middle East and Africa
This study identifies the growing development in engine technologies as one of the prime reasons driving the internal combustion engine (ICE) market growth during the next few years. Also, increasing investment in building better emission control equipment and increasing demand for fuel efficiency will lead to sizable demand in the market.
The report on the internal combustion engine (ICE) market covers the following areas:
Internal combustion engine (ICE) market sizing
Internal combustion engine (ICE) market forecast
Internal combustion engine (ICE) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading internal combustion engine (ICE) market vendors that include AB Volvo, Caterpillar Inc., Cummins Inc., DEUTZ AU, Hyundai Motor Co., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Mitsubishi Heavy Industries Ltd., Navistar International Corp., Renault SAS, Robert Bosch GmbH, Rolls Royce Holdings PLC, Shanghai Diesel Engine Co. Ltd., Siemens AG, Toyota Industries Corp., Volkswagen AG, Wacker Neuson SE, Wartsila Corp., Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd.. Also, the internal combustion engine (ICE) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ billion)
Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Internal Combustion Engine (ICE) Market 2018 - 2022
Historic Market Size - Data Table on Global Internal Combustion Engine (ICE) Market 2018 - 2022 ($ billion)