The global demand for External Combustion Engine Market is presumed to reach the market size of nearly USD 926.11 MN by 2028 from USD 713.31 MN in 2021 with a CAGR of 3.8% under the study period 2022 - 2028.
An external combustion engine is one in which an operating fluid is heated and compressed by external fuel combustion through a heat exchanger or an engine wall. External combustion engines are heavy, clunky, and have massive structural design due to their large furnace and boiler. Aside from these benefits, external combustion engines provide the advantages of minimal emission and low noise generation. Steam engines and stirling engines are the two most common external combustion engines. Stirling engines, in particular, are considered preferable to steam engines over the anticipated time due to their excellent efficiency. They can operate quietly and can use any heat source. External combustion engines are widely utilized in thermal power plants, nuclear power plants, ships, trains, and pumps; however, they have lower efficiency than internal combustion engines. ECT has begun work on a radically new single-piston combustion engine.
Market Dynamics
The external combustion engine market is expected to grow as the number of power plants throughout the world grows. External combustion engines utilize a variety of sources to generate heat, including municipal waste, biomass, geothermal, and solar, which is expected to improve the global market for external combustion engines. The external combustion engine market is expected to grow due to a rise in demand for steam engines due to the growth of electricity around the world. Central power plants need external combustion engines because they produce less external noise and assist lower high-pressure combustion products, which is expected to enhance the global external combustion engine market. The need for external combustion engines is expected to rise as railway manufacturing companies expand worldwide.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of external combustion engine. The growth and trends of external combustion engine industry provide a holistic approach to this study.
Market Segmentation
This section of the external combustion engine market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Steam Engine
- Stirling Engine
By Application
- Pump
- Ship
- Train
- Steam Power Plant
- Nuclear Power Plant
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the External Combustion Engine market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global External Combustion Engine Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the external combustion engine market include 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. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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