Global External Combustion Engine Market By Cycle (Brayton, Stirling, Ericsson), By Capacity (Small (Less than 10KW), Medium (10-100KW), Large (More than 100KW)) , By Application (Train, Ship and Others) and By Region - Global Forecast 2030

Global External Combustion Engine Market is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global external combustion engine market has been segmented on the basis of circle, capacity, application, as well as regions and countries.

The Global External Combustion Engine Market was valued at UÐ…D $587.2 Mn in 2020, and is projected to achieve a valuation of USD $800.5 Mn by 2030, at a CAGR of 3.8%.

Overview:

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.

Dynamics:

The versatility of external combustion engines to utilize any source of energy such as geothermal, municipal waste, solar or biomass, as a means to supply adequate heat to run this type of device is a primary factor that is expected to continue to fuel the revenue growth of the global external combustion engine market over the next 10 years. Moreover, although these engines require a longer duration to ensure that they are cleaned properly after use, the minimal level of skill needed to operate them effectively is also a factor that is slated to further augment opportunities for market growth of this global industry in the years to come.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global external combustion engine market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, the high investment costs associated with these engines, as well as their low efficiency levels are some of the other factors that are slated to hinder the revenue growth of the global external combustion engine market in the coming years.

Nonetheless, increasing mergers & acquisitions among key industry players as a means to expand their product offerings and respective portfolios, as well as to improve the outcomes of their R&D endeavors are some of the factors that are anticipated to foster future revenue growth opportunities for the global external combustion engine market over the forecast period.

Segmentation of the Global External Combustion Engine Market is as follows:

In terms of cycle, the Stirling segment accounted for the maximum number of revenue shares of the global external combustion engine market in 2020, and is expected to index the highest CAGR over the forecast period. The Ericsson segment is also anticipated to index a high CAGR over the next 10 years.

With regards to capacity, the large capacity segment accounted for the highest number of revenue shares of the global external combustion engine market in 2020, and is anticipated to continue doing so over the next decade. The medium capacity segment is also indicative of registering a high CAGR over the forecast period.

On the basis of application, the nuclear power plant segment accounted for the maximum number of revenue shares in 2020, and is indicative of continuing to do so over the forecast period. The thermal power plant segment is also expected to register considerable revenue growth in the coming years.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global external combustion engine market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. The markets in Europe and the Asia Pacific regions accounted for the second-, and third-highest revenue shares respectively in 2020, and are slated to continue to retain their market positions over the course of the forecast period.

Segmentation of the Global External Combustion Engine Market:

Segmentation by Cycle:

• Brayton
• Stirling
• Ericsson
• Other Cycle

Segmentation by Capacity:

• Small (Less than 10KW)
• Medium (10-100KW)
• Large (More than 100KW)

Segmentation by Application:

• Train
• Ship
• Nuclear Power Plant
• Thermal Power Plant
• Other Application

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA