“Global External Combustion Engine Market, By Cycle (Brayton, Stirling, Ericsson, Other Cycle), By Capacity (Small {Less than 10KW}, Medium {10-100KW}, Large {More than 100KW}), By Application (Train, Ship, Nuclear Power Plant, Thermal Power Plant, Other Application), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global External Combustion Engine Market through systematic segmentation, covering every aspect of this target market. The 5-year (2021–2026) cumulative revenue of this market is projected to be over $691.5 Mn, and is estimated to increase moderately over the latter part of the forecast period.
An external combustion engine is a heat engine where a working fluid, contained internally, is heated by combustion in an external source, through the engine wall or a heat exchanger. The fluid then, by expanding and acting, on the mechanism of the engine, produces motion and usable work.
The increasing usage of external combustion engines for various industrial applications such as in natural gas power plants, municipal waste processing units, solar or biomass plants, etc., as well as the steady growth experienced by these end-use sectors is a primary factor that is anticipated to have a profound influence on the revenue growth of the Global External Combustion Engine Market in the years of the coming years. Moreover, the fact that although these types of engines need longer durations of time to be effectively cleaned, a minimal level of skill is needed to operate them, which is another factor that is slated to compliment the market growth aspect of this global industry. Furthermore, numerous key industry players are now channelling increasing amounts of investments towards the development of more efficient products, as well as the growing number of strategic mergers & acquisitions between industry parties to expand their respective products portfolios and manufacturing capabilities. These are some of the other elements that are expected to further augment the global market footprint of this sector, and are also some of the most crucial factors that are anticipated to play a critical role in catapulting the projected revenue of the Global External Combustion Engine Market to $800.5 Mn by 2030, at a CAGR of 3.8%.
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