External Combustion Engine Market Size, Share, Analysis, Trends, Growth, 2032

External Combustion Engine Market Insights

According to Zion Market Research, the global External Combustion Engine Market was worth USD 471.2 Million in 2023. The market is forecast to reach USD 715.61 Million by 2032, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the External Combustion Engine Market industry over the next decade.

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In an external combustion engine, thermal energy is produced by burning fuel externally; which further releases energy that is used to heat water and convert water into steam. During this process, high-pressure steam is generated due to the heating of the water which further moves a piston inside the cylinder. At this point, the kinetic energy of the moving piston is converted into mechanical energy. Nowadays, the Steam engine and the Stirling engine are two types of external combustion engines that are widely used. The Stirling engine is widely in yachts and submarines where no external valves are required, whereas Stirling engines are highly efficient, as compared to steam engines. Also, as compared to the noise and emission generated by internal combustion engines, External combustion engines produce less noise and emission.

External Combustion Engine Market: COVID-19 Impact Analysis

The COVID-19 outbreak has caused disruptions to global supply chains and other businesses. However, this epidemic did not impact the External Combustion Engine Market. With the upliftment of the Covid-19 restriction, the industry is expected to regain its original position and start functioning and generating revenue in the forecast period.

External Combustion Engine Market: Growth Factors

Nowadays, the number of power stations is rising, thus increasing the number of power stations is likely to boom the growth of the external combustion engine market. Also, environmental awareness across the globe is increasing, owing to which is likely to boost the demand for use for external combustion engines, as external combustion engines use various sources including municipal waste, biomass, geothermal, and solar to supply heat, which is anticipated to boost the external combustion engine market across the globe. Moreover, the rising demand for steam engines across the globe for the development of electricity is anticipated to propel the demand for external combustion engines and fuel the growth of the external combustion engine market.

Furthermore, as the external combustion engine generates less external noise and also helps to reduce exhaust high-pressure combustion products; the demand for external combustion engine from major power plants are increasing further leading to propelling the market growth in the near future over the forecast period.

External Combustion Engine Market: Report Scope

Application Segment Analysis Preview:

The application segment is anticipated to hold the largest share of the External Combustion Engine Market over the forecast period. External combustion engines are used in Steam Power plants, Nuclear Power plants. Nowadays the number of power plants is increasing across the globe. This rising in the number of power plants is anticipated to boost the External Combustion Engine Market in near future over the forecast period. Also, External combustion engines are used in pumps, Ships, and trains. Environmental awareness across the globe is increasing. As the External combustion engine uses various sources including municipal waste, biomass, geothermal, and solar to supply heat, it is expected to boom the External Combustion Engine Market over the forecast period.

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Regional Analysis Preview

Europe is anticipated to hold the largest share of the external combustion engine market. The growth of the external combustion engine market in this region is attributed to a rapid increase in industrialization across the region. Also, Owing to the increasing number of power stations in this region, the demand for external combustion engines is likely to increase further propelling the growth of the external combustion engine market in near future over the forecast period.

Asia Pacific is projected to have the fastest growth for the external combustion engine market over the forecast period. The growth of the external combustion engine market in this region is attributed to the presence of the major presence of thermal power plants across the region. Also, the major developed countries including china, japan have nuclear power plants which are likely to upsurge the demand for external combustion engines across these countries, further propelling the growth of the external combustion engine market in this region in near future over the forecast period.

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External Combustion Engine Market: Competitive Landscape

Some of the key players in the External Combustion Engine Market are,

• Stirling Thermal Motors Inc.
• Aisin Seiki Co. Ltd.
• Sterling Power Systems Corporation
• Sunpower Inc.
• Saab AB
• Reliable Engine Co.
• Microgen Engine Corporation
• Deere & Company
• Azelio
• Yanmar Holdings Co. Ltd

The External Combustion Engine Market is segmented as follows:

By Type

• Steam Engine
• Stirling Engine

By Application

• Pump
• Ship
• Train
• Steam Power Plant
• Nuclear Power Plant

Global External Combustion Engine Market: Regional Segment Analysis

• North America

  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa