Engines Market Size to Reach $477.89 billion by 2029 | MarketsandMarketsTM

DELRAY BEACH, Fla. , Oct. 29, 2024 /PRNewswire/ -- The global Engines Market is anticipated to grow from estimated USD 377.

83 billion in 2024 to USD 477.89 billion by 2029, at a CAGR of 4.8% during the forecast period.



The major factors owing to the growth of Engines Market are rising demand for fuel efficient and low emission engines. Engines are machines used in converting fuels into mechanical energy. This helps in major industries such as automotive, marine, aerospace, and power generation.

The Engines Market has grown significantly due to increased demand for efficient energy solutions across industries. Engines are widely used in transportation vehicles, heavy machinery, ships, and backup power systems, providing a reliable source of power. The durability, scalability and the ability of engines to handle high loads make them essential for small as well as large scale applications.

Browse in-depth TOC on " Engines Market " 150 - Tables 70 - Figures 300 – Pages Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.

asp?id=44291249 Gasoline by Fuel type, is expected to be the second largest Engines Market during the forecast period. Gasoline is expected to account for the second largest market share by fuel type during the forecast period. According to the U.

S. Energy Information Administration (EIA), gasoline consumption in the transportation sector accounted for more than 90 % which fueled more than 270 million vehicles. Continuous advancements in gasoline engine technology, such as turbocharging, direct fuel injection, and variable valve timing, have significantly improved the fuel efficiency of gasoline engines.

Gasoline engines are also widely used in light commercial vehicles (LCVs), motorcycles, and recreational vehicles. Gasoline engines account for a substantial portion of the overall engine market and help sustain gasoline's dominant position. Power Generation segment by end-user, is expected to be the fastest Engines Market during forecast period.

The market for engines by end user is anticipated to be the fastest growing segment in the market during the forecast period owing to the rising demand for reliable and efficient energy sources worldwide. The provision of such backup power solutions is what drives this growth, and it is primarily in areas that experience frequent outages. Furthermore, during the increasing integration of renewable energy, flexible engine systems are needed to accommodate variable power supply.

Investments in power generation engines are supported by government initiatives to create energy independence and sustainability. The performance and efficiency of engines used in this segment become better every day, and adoption follows. Request Sample Pages: https://www.

marketsandmarkets.com/requestsampleNew.asp?id=44291249 Asia Pacific is expected to be the fastest region in the Engines Market during the forecast period.

The demand for the Engines Market is expected to increase in the Asia pacific region which is primarily due to the rapid industrialization and urbanization, thus resulting in high demand for the energy as well as transportation solutions. Several emerging economies live in this region, such as China and India , where the infrastructure development and the auto production are booming fast. Government initiatives to clean up the environment are also creating deeper pockets for innovative and investment in advanced engine technologies.

Having a rising population and urban centers, increases the demand for efficient power generation systems and transportation systems. Additionally, the strong manufacturing sector of the Asia Pacific region is likely to help its production and adoption of various engine types to provide the market with gains. Key Players The report profiles key players such as Caterpillar (US), Cummins Inc.

(US), General Electric Company (US), RTX (US), General Motors (US), Rolls-Royce Plc (UK), Mitsubishi Heavy Industries, Ltd. ( Japan ), Honeywell International Inc. (US), AB Volvo ( Sweden ), Scania ( Sweden ).

For more information, Inquire Now ! Related Reports: Gas Engine Market Diesel Engines Market High-Speed Engine Market Get access to the latest updates on Engines Companies and Engines Industry Growth About MarketsandMarkets TM : MarketsandMarkets TM has been recognized as one of America's best management consulting firms by Forbes , as per their recent report. MarketsandMarkets TM is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore TM (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarketsTM.com or follow us on Twitter , LinkedIn and Facebook .

Contact: Mr. Rohan Salgarkar MarketsandMarkets TM INC. 1615 South Congress Ave.

Suite 103, Delray Beach, FL 33445 USA : +1-888-600-6441 Email: [email protected] Visit Our Website: https://www.marketsandmarkets.

com/ Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.

jpg View original content: https://www.prnewswire.com/news-releases/engines-market-size-to-reach-477-89-billion-by-2029--marketsandmarkets-302289663.

html SOURCE MarketsandMarkets © 2024 Benzinga.com. Benzinga does not provide investment advice.

All rights reserved..