Global Reciprocating Engine Market Overview:
As per MRFR analysis, the Reciprocating Engine Market Size was estimated at 12.26 (USD Billion) in 2022. The Reciprocating Engine Market Industry is expected to grow from 12.6 (USD Billion) in 2023 to 16.1 (USD Billion) by 2032. The Reciprocating Engine Market CAGR (growth rate) is expected to be around 2.76% during the forecast period (2024 - 2032).
Key Reciprocating Engine Market Trends Highlighted
The reciprocating engine market is experiencing substantial growth due to rising demand from various sectors. Key drivers include the increasing use of reciprocating engines in power generation, marine propulsion, and industrial applications. The focus on fuel efficiency, reliability, and reduced emissions is also boosting demand for advanced reciprocating engine technologies. Opportunities in the market lie in the development of sustainable and efficient engine designs, such as hybrid and electric-assisted reciprocating engines.Â
The growing adoption of renewable energy sources is creating demand for reciprocating engines as backup power generators. The increasing popularity of unmanned aerial vehicles and drones is also fueling the market for small and lightweight reciprocating engines. Recent trends include the integration of advanced engine control systems, electronic fuel injection, and variable valve timing to enhance engine performance and reduce emissions.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Reciprocating Engine Market Drivers
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Environmental regulations driving demand for cleaner engines
The demand for cleaner and more efficient engines is highly driven by the growing number of stringent environmental regulations, especially in developed regions. First of all, reciprocating engines have a severe effect on the air quality, reflecting the attempts implemented by governments to decrease the levels of different pollutants including the group of nitrogen oxides, particulate matter, and carbon monoxide.Â
As a result, emission standards in the form of such laws as Euro 6 in Europe and Tier 4 Final in North America facilitate the growth of the demand for reciprocating engines meeting these requirements. Manufacturers have to stay innovative and invest in the incorporation of advanced technologies, such as high-pressure common rail fuel injection systems, variable valve timing, and turbocharging, to satisfy the bioenergy demand through improvements in the levels of reciprocating engine efficiency and a continuous decrease in the number of emissions.
Growing demand for power generation in remote and off-grid areas
The reciprocating engine market is rising due to an increase in the demand for power generation in remote and off-grid areas. These engines serve as a highly reliable and cost-effective source of power in regions where there is no access to an electrical grid. Reciprocating engines’ uses vary from providing backup power for various critical infrastructures to power some remote communities and offering off-grid power to different industries and commercial users. The growing demand for a reliable and sustainable source of power in remote areas will continue to drive the reciprocating engine market.
Technological advancements improving engine performance and efficiency
There is no doubt that modern technological advancements assist in increasing the efficiency and overall performance of reciprocating engines. For example, to improve the design, materials and processes associated with engine manufacturing or to enhance the performance of reciprocating engines, manufacturers must invest in technology and research and development activities.Â
For example, reciprocating engines have become more powerful and efficient after advanced engine control systems have been introduced. Furthermore, other technological advancements, especially the use of new and advanced materials, such as aluminum and various composites, make engines not only more powerful but also lighter and more fuel efficient.
Reciprocating Engine Market Segment Insights:
Reciprocating Engine Market Power Output Insights
The Global Reciprocating Engine Market is segmented into low power (100 kW), medium power (100-500 kW), and high power (>500 kW) based on power output. In 2023, the low power segment held the largest market share due to its wide adoption in small-scale power generation applications. The medium power segment is expected to witness the highest growth rate during the forecast period due to increasing demand for distributed power generation. The high power segment is projected to account for a significant market share by 2032.Â
The increasing demand for efficient and reliable power generation is driving the growth of the Global Reciprocating Engine Market. Reciprocating engines offer several advantages over other power generation technologies, including high efficiency, low maintenance costs, and fuel flexibility. The growing adoption of reciprocating engines in various industries, including power generation, transportation, and construction, is expected to support the market growth.Â
The Global Reciprocating Engine Market is highly competitive, with several established players and emerging new entrants. Some of the key players in the market include Caterpillar, Cummins, Rolls-Royce, MAN Energy Solutions, and Wärtsilä. These companies are investing heavily in research and development to enhance the performance and efficiency of their reciprocating engines. The increasing focus on environmental sustainability is also driving the development of low-emission reciprocating engines, which are expected to gain traction in the coming years.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Reciprocating Engine Market Fuel Type Insights
The Global Reciprocating Engine Market segmentation by Fuel Type includes Diesel, Gasoline, Natural Gas, and Biodiesel. Diesel is expected to hold the largest market share in 2023, primarily due to its wide use in heavy-duty applications such as trucks, buses, and construction equipment. Gasoline engines are expected to account for a significant share of the market due to their use in light-duty vehicles such as cars and motorcycles.Â
Natural gas engines are gaining popularity due to their lower emissions and fuel costs and are expected to witness significant growth in the coming years. Biodiesel engines are also expected to gain traction due to their use of renewable fuels and their lower environmental impact. The Global Reciprocating Engine Market revenue from Diesel is expected to reach USD 6.8 billion in 2024, while Gasoline is expected to be around USD 4.2 billion. Natural Gas and Biodiesel are expected to contribute USD 1.4 billion and USD 0.7 billion, respectively, to the market revenue in 2024.
Reciprocating Engine Market Application Insights
The Global Reciprocating Engine Market is segmented by Application into Automotive, Industrial, Marine, and Power Generation. The Automotive segment is the largest, accounting for over 55% of the global market revenue in 2023. The Industrial segment is the second largest, followed by Marine and Power Generation. The Automotive segment is driven by the growing demand for passenger cars and commercial vehicles.Â
The Industrial segment is driven by the increasing use of reciprocating engines in industrial applications such as construction, mining, and agriculture.The Marine segment is driven by the growing demand for marine vessels, such as ships and boats. The market is expected to be driven by the growing demand for reciprocating engines in various applications.Â
The increasing demand for passenger cars and commercial vehicles is expected to drive the growth of the Automotive segment. The increasing use of reciprocating engines in industrial applications is expected to drive the growth of the Industrial segment. The growing demand for marine vessels is expected to drive the growth of the Marine segment. The increasing demand for electricity is expected to drive the growth of the Power Generation segment.
Reciprocating Engine Market Cylinder Configuration Insights
Analyzing the Global Reciprocating Engine Market segmentation by Cylinder Configuration, it's evident that Inline, V-type, Radial, and Opposed-piston configurations dominate the market. Inline engines, with their compact design, are often preferred for smaller applications, while V-type engines, known for their power and efficiency, are widely used in medium to large-sized reciprocating engines.Â
Radial engines, with their unique circular arrangement of cylinders, offer high power-to-weight ratios, making them suitable for aircraft applications. Opposed-piston engines, with their compact design and low vibration levels, find applications in power generation and marine propulsion. The Global Reciprocating Engine Market data suggests that Inline and V-type configurations account for a significant share of the market revenue, driven by their widespread adoption in various industrial and automotive applications.
Reciprocating Engine Market Valve Train Insights
The Valve Train segment of the Global Reciprocating Engine Market is estimated to grow significantly in the coming years. The growth of the segment can be attributed to the increasing demand for fuel-efficient and high-performance engines. The segment is further segmented into Overhead Valve (OHV), Overhead Cam (OHC), Double Overhead Cam (DOHC), and Variable Valve Timing (VVT). The Overhead Valve (OHV) segment is expected to hold the largest market share during the forecast period.Â
The Overhead Cam (OHC) segment is expected to grow at a significant pace, owing to its advantages such as improved fuel efficiency and power output. The Double Overhead Cam (DOHC) segment is expected to witness significant growth, owing to its ability to provide higher engine speeds and power output. The Variable Valve Timing (VVT) segment is expected to grow at a rapid pace, owing to its ability to optimize engine performance and fuel efficiency.
Reciprocating Engine Market Regional Insights
The Global Reciprocating Engine Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional market for reciprocating engines, accounting for over 30% of the global market revenue in 2023. The region is home to a large number of reciprocating engine manufacturers and end-users, including power generation, construction, and industrial sectors.Â
Europe is the second largest regional market, followed by APAC. The APAC region is expected to witness the highest growth rate over the forecast period, driven by increasing demand from emerging economies such as China and India. South America and MEA are relatively smaller markets for reciprocating engines but are expected to experience steady growth in the coming years.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
Reciprocating Engine Market Key Players And Competitive Insights:
Currently, the majors in the industry are major and are working on the creation of new products. The industry introduces new technologies, and the most popular of them are electric and hybrid engines, which may help substitute the ones of the companies that are now leading in the industry.Â
The market leaders are at the moment spending a lot of money in the area of Research and Development to be able to keep their position in the market and not lose the share of it already obtained. Moreover, the industry is becoming more and more competitive, and this means that companies need to either offer more services and try to be leaders in them or offer better customer service. Cummins, which can offer its clients engines, be it automotive, or for industry or marine sector, is one of the leaders in the field of reciprocating engines, transfer, diesel and gas engines manufacture, and distribution in the world.
They believe that they are a global power, producing high quality products and delivering good services, always satisfied to accept new talented workers. The other company, which was mentioned in this context, is Caterpillar. They specialized in manufacturing different types of reciprocating engines, used not only in construction but also in mining, transportation and many other spheres of life.
Key Companies in the Reciprocating Engine Market Include:
- Rolls-Royce Power Systems
- Mitsubishi Heavy Industries
Reciprocating Engine Market Industry Developments
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Q1 2024: Caterpillar Launches New Hydrogen-Capable Reciprocating Engine for Distributed Power Caterpillar announced the commercial launch of its new hydrogen-capable reciprocating engine, designed for distributed power generation and backup applications. The engine supports both pure hydrogen and blended fuels, targeting industrial and utility customers.
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Q2 2024: Cummins Unveils Next-Generation Biofuel-Compatible Reciprocating Engine Cummins introduced a new line of reciprocating engines compatible with advanced biofuels, aiming to reduce emissions in industrial and transportation sectors. The launch expands Cummins' portfolio of low-carbon power solutions.
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Q2 2024: MAN Energy Solutions Expands Dual-Fuel Reciprocating Engine Portfolio for Marine Sector MAN Energy Solutions announced the expansion of its dual-fuel reciprocating engine offerings for marine propulsion, enabling vessels to operate on both conventional fuels and liquefied natural gas (LNG).
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Q2 2024: Wärtsilä Launches New Reciprocating Engine with Enhanced Remote Monitoring Capabilities Wärtsilä launched a new reciprocating engine model featuring advanced remote monitoring and predictive maintenance tools, targeting power plant operators seeking improved reliability and operational efficiency.
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Q3 2024: Rolls-Royce Introduces Turbocharged Reciprocating Engine for Industrial Backup Power Rolls-Royce announced the release of a turbocharged reciprocating engine designed for industrial backup power applications, emphasizing rapid start-up and multi-fuel adaptability.
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Q3 2024: GE Vernova Upgrades Reciprocating Engine Line with Smart Monitoring Features GE Vernova unveiled upgrades to its reciprocating engine product line, adding smart monitoring and analytics capabilities to improve performance and reduce downtime for distributed energy customers.
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Q4 2024: Yanmar Opens New Reciprocating Engine Manufacturing Facility in India Yanmar Holdings announced the opening of a new manufacturing facility in India dedicated to reciprocating engine production, aiming to meet rising demand in South Asia for agricultural and industrial engines.
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Q4 2024: Mitsubishi Heavy Industries Partners with Local Utility for Reciprocating Engine Power Plant Project Mitsubishi Heavy Industries entered a partnership with a regional utility to supply reciprocating engines for a new power plant focused on grid flexibility and renewable integration.
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Q1 2025: Honda Motor Co. Launches Compact Reciprocating Engine for Portable Power Solutions Honda Motor Co. introduced a compact reciprocating engine targeting portable power applications, with a focus on low emissions and high fuel efficiency for consumer and commercial use.
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Q1 2025: Perkins Engines Announces New Series of Regulation-Compliant Reciprocating Engines Perkins Engines launched a new series of reciprocating engines designed to meet updated emissions regulations, targeting construction and industrial equipment manufacturers.
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Q2 2025: AB Volvo Penta Wins Contract to Supply Reciprocating Engines for Emergency Power in European Hospitals AB Volvo Penta secured a contract to supply reciprocating engines for emergency backup power systems in several European hospitals, supporting critical infrastructure resilience.
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Q2 2025: Briggs & Stratton Announces Series A Funding to Expand Reciprocating Engine Production Briggs & Stratton raised Series A funding to expand its reciprocating engine manufacturing capacity, with investments focused on new product development and facility upgrades.
Reciprocating Engine Market Segmentation
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Reciprocating Engine Market Power Output Outlook
- Medium Power (100-500 kW)
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Reciprocating Engine Market Fuel Type Outlook
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Reciprocating Engine Market Application Outlook
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Reciprocating Engine Market Cylinder Configuration Outlook
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Reciprocating Engine Market Valve Train Outlook
- Double Overhead Cam (DOHC)
- Variable Valve Timing (VVT)
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Reciprocating Engine Market Regional Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
12.26 (USD Billion) |
| Market Size 2023 |
12.6 (USD Billion) |
| Market Size 2032 |
16.1 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.76% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
PACCAR, Caterpillar, Scania Group, Hino Motors, Cummins, Yanmar, Rolls-Royce Power Systems, Daimler Truck, Mitsubishi Heavy Industries, Deutz, MAN Energy Solutions, Isuzu Motors, Volvo Group |
| Segments Covered |
Power Output, Fuel Type, Application, Cylinder Configuration, Valve Train, Regional |
| Key Market Opportunities |
Renewables growth Emerging economies Technological advancements Industrial applications Marine applications |
| Key Market Dynamics |
Increasing demand for fuel-efficient vehicles Government regulations on emissions Advancements in engine technology Growing popularity of electric vehicles Fluctuations in raw material prices |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ):
The Global Reciprocating Engine Market is expected to reach a valuation of USD 16.1 billion by 2032, expanding at a CAGR of 2.76% from its estimated value of USD 12.6 billion in 2023.
The Asia Pacific region is anticipated to dominate the Global Reciprocating Engine Market, contributing a significant share due to the increasing demand for reciprocating engines in various industries, coupled with the presence of major manufacturing hubs in the region.
The primary applications of Reciprocating Engines include power generation, industrial machinery, and transportation. The rising demand for reliable and efficient power sources in remote areas and the growing adoption of reciprocating engines in industrial equipment is expected to drive market growth.
Major players in the Global Reciprocating Engine Market include Caterpillar, Cummins, Wärtsilä, MAN Energy Solutions, and Rolls-Royce. These companies hold a substantial market share and are continuously investing in research and development to enhance their product offerings.
Factors such as the increasing adoption of reciprocating engines in power generation, the growing demand for reliable and efficient energy sources, and the stringent emission regulations are propelling the growth of the Global Reciprocating Engine Market.
The Global Reciprocating Engine Market is anticipated to expand at a steady CAGR of 2.76% during the forecast period from 2024 to 2032.
Emerging economies in Asia Pacific, the Middle East, and Africa are anticipated to present lucrative growth opportunities for Reciprocating Engine Market participants due to the rising demand for energy and infrastructure development in these regions.
Technological advancements such as the development of more efficient and environmentally friendly reciprocating engines, as well as the integration of advanced control systems and sensors, are transforming the Global Reciprocating Engine Market.
The competitive landscape of the Global Reciprocating Engine Market is expected to remain competitive, with established players focusing on expanding their market share through strategic partnerships, acquisitions, and product innovations.
Challenges faced by players in the Global Reciprocating Engine Market include fluctuating raw material costs, intense competition, and the need to comply with stringent environmental regulations.
