2025 Reciprocating Power Generating Engine Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Reciprocating Power Generating Engine Market Size By 2025?
The market size for reciprocating power generating engines has seen a slight increase in the past few years. Its expected growth will be from $52.92 billion in 2024 to $53.55 billion in 2025, showcasing a compound annual growth rate (CAGR) of 1.2%. Factors contributing to this growth in the historical period include industrialization, the requirement for mechanical power, evolution in internal combustion engine technology, expansion in the automotive and transportation industry, the call for dependable backup and auxiliary power, and the growing number of electrical generation and power plants.

How Big Is the Reciprocating Power Generating Engine Market Size Expected to Grow by 2029?
In the forthcoming years, the reciprocating power generating engine market is projected to witness a slight expansion. It is anticipated to reach a market value of $56.53 billion in 2029, growing at a compound annual growth rate (CAGR) of 1.4%. The growth during the forecast period is likely due to the tailored reciprocating engines for particular applications, the incorporation of hybrid and electric power solutions, ecologically responsible engine designs, the growth in distributed energy generation, and the adoption of these types of engines in microgrids. The forecast period is also expected to see major trends such as the implementation of advanced combustion and emission control technologies, adherence to engine emission and safety regulations, the use of intelligent and connected reciprocating engines, personalized power generation solutions, and transparency in engine fuel sourcing efficiency.

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Which Key Market Drivers Powering Reciprocating Power Generating Engine Market Expansion and Growth?
The surge in electricity needs in the commercial and industrial sectors is playing a substantial role in escalating the reciprocating power generating engine market's growth. Commercial and industrial sectors predominantly use electricity for lighting in manufacturing and other industries. The growth of this market is largely driven by the expanded use of electricity due to the development of cogeneration plants, personal consumption, and the proliferation of small industries. For example, in July 2024, the International Energy Agency, a government organization based in France for energy, predicts that global electricity demand will rise by about 4% in 2024, an increase from 2.5% in 2023. Consequently, the surge in electricity needs across commercial and industrial sectors is anticipated to provide opportunities for multiple players in the reciprocating power generating engines market.

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Which Fast-Growing Trends Are Poised to Disrupt the Reciprocating Power Generating Engine Market?
The increasing alliance of businesses is a key developing trend in the market for reciprocating power generation engines. Producers of these engines are entering collaborations to create fresh technologies and products. For example, in January 2022, the US-based WEC Energy Group, a publicly held electric and natural gas utility company, partnered with the independent, non-profit organization, Electric Power Research Institute (EPRI). Their joint effort resulted in successful research and development relating to electricity production, distribution, and usage. They announced the completion of a hydrogen blending pilot project on a reciprocating engine. This cooperative venture not only allowed substantial growth opportunity for both entities, but also led to the creation of a new series of generator products. It is symbolic of the reciprocating engines' progressive nature and their significance in the energy world.

What Are the Emerging Segments in the Reciprocating Power Generating Engine Market?
The reciprocating power generating engine market covered in this report is segmented -

1) By Fuel: Gas-Fired, Diesel-Fired, Duel Fuel, Other Fuel
2) By Rated Power: Below 2MW, 2MW-5MW, Above 5MW
3) By Application: Industrial, CHP, Energy and Utility, Landfill and Biogas, Other Applications

Subsegments:
1) By Gas-fired: Natural Gas, Biogas, Other Gas Types
2) By Diesel-fired: Standard Diesel, Bio-Diesel, Ultra-Low Sulfur Diesel (ULSD)
3) By Dual fuel: Gas Or Diesel Combination, Biogas Or Diesel Combination
4) By Other Fuel: Heavy Fuel Oil (HFO), Renewable Fuels, Waste Oil

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Who Are the Global Leaders in the Reciprocating Power Generating Engine Market?
Major companies operating in the reciprocating power generating engine market include Rolls-Royce Limited, Mitsubishi Motors North America Inc., MAN Energy Solutions SE, Kohler Co., Kirloskar Oil Engines Limited., Kawasaki Heavy Industries Ltd., Deere & Company., Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Deutz AG, Escorts Kubota Limited., Siemens Energy AG, Wärtsilä Oyj Abp, Yanmar Co. Ltd., J C Bamford Excavators Ltd., General Electric Company, Motorenfabrik Hatz GmbH & Co. KG, Perkins Engines Company Limited, MTU Onsite Energy Corp., Doosan Engine Co. Ltd., HD Hyundai Heavy Industries Co. Ltd., INNIO Jenbacher GmbH & Co., Liebherr-International Deutschland GmbH, Cooper Corporation., Mahindra & Mahindra Limited

Which are the Top Profitable Regional Markets for the Reciprocating Power Generating Engine Industry?
North America was the largest region in the reciprocating power generation engine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the reciprocating power generation engine market share during the forecast period. The regions covered in the reciprocating power generating engine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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