Global Internal Combustion Engine Ice Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2025 –2032 |
 Market Size (Base Year) |
USD 114.69 Billion |
 Market Size (Forecast Year) |
USD 129.20 Billion |
 CAGR |
% |
| Major Markets Players |
Global Internal Combustion Engine (ICE) Market Segmentation, By Fuel (Petroleum, Natural Gas), End-Use (Automotive, Aircraft, Marine), Application (Automotive, Non-Automotive) - Industry Trends and Forecast to 2032.
Global Internal Combustion Engine (ICE) Market Analysis
The internal combustion (IC) engine manufacturing sector is witnessing high growth with the continuous developments in product offerings in order to support emission targets. Various government are implementing stringent regulations to reduce the amount of air pollution.
Global Internal Combustion Engine (ICE) Market Size
Global Internal Combustion Engine (ICE) Market size was valued at USD 114.69 billion in 2024 and is projected to reach USD 129.20 billion by 2032, with a CAGR of 1.5% during the forecast period of 2025 to 2032.
Report Scope and Market Segmentation
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Attributes |
Internal Combustion Engine (ICE) Key Market Insights |
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Segmentation |
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Countries Covered |
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa |
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Key Market Players |
AGCO Corporation (US), ASHOK LEYLAND (India), Hino Motors, Ltd. (Japan), Bosch Limited (Germany), Caterpillar (US), Cummins Inc. (US), Ford Motor Company (US), Kirloskar Oil Engines Ltd. (India), General Motors (US), Mahindra & Mahindra Ltd. (India), Navistar, Inc. (US), Rolls-Royce plc (UK), Shanghai Diesel Engine Co., Ltd. (SDEC) (China), Volkswagen AG (Germany), TOYOTA INDUSTRIES CORPORATION (Japan), Volvo Car Corporation (Sweden), Groupe Renault (France), Doosan Infracore (South Korea), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Fiat Chrysler Automobiles (UK), and Hyundai Heavy Industries Co., Ltd (South Korea), among others |
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Market Opportunities |
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Global Internal Combustion Engine (ICE) Market Definition
Internal combustion engine is a type of power-generating source for various automobiles wherein the combustion of petroleum or natural gas occurs to generate heat thereby resulting in generation of power which is then used for the mobility of the automobiles they are installed in. The structure of this includes a chamber where the combustion process occurs with the interaction of an oxidizer.
Internal Combustion Engine (ICE) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Government Initiatives
The rise in government initiatives towards emission reduction to control emissions acts as one of the major factor driving the growth of internal combustion engine (ICE) market. Manufacturers increasing their investments to meet government standards has a positive impact on the market.
- Concerns regarding toxic waste
The increase in the adoption of diesel oxidation catalyst (DOC) for the conversion of carbon monoxide (CO) and hydrocarbons into water and carbon dioxide (CO2) accelerate the market growth. This catalyst breaks down toxic waste in the exhaust stream from the engine, declining particulate matter (PM).
- Increase in demand for diesel engines
The surge in inclination towards diesel engines over gasoline engines owing to their superior fuel economy, durability, and reliability, associated with a favourable fuel tax situation further influence the market.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the internal combustion engine (ICE) market.
Opportunities
Furthermore, technological advancements and increasing modernization in the production techniques extend profitable opportunities to the market players in the forecast period of 2025 to 2032. Also, research and development activities further escalate the growth of diesel engine catalyst market.
Restraints/Challenges faced by the Internal Combustion Engine (ICE) Market
On the other hand, strict regulatory presence in the market for ICE due to their environmental impact attacks, and rising adoption rate of EV (electronic vehicles) are expected to obstruct market growth. Also, increasing lack of fossil fuel reserves resulting in higher costs of petroleum products are projected to challenge the internal combustion engine (ICE) market in the forecast period of 2025-2032.
This internal combustion engine (ICE) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the internal combustion engine (ICE) market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Internal Combustion Engine (ICE) Market Scope
The internal combustion engine (ICE) market is segmented on the basis of fuel, end-use and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Fuel
- Petroleum
- Natural Gas
End-Use
- Automotive
- Aircraft
- Marine
Application
- Automotive
- Non-Automotive
Internal Combustion Engine (ICE) Market Regional Analysis
The internal combustion engine (ICE) market is analyzed and market size insights and trends are provided by country, fuel, end-use and application.
The countries covered in the internal combustion engine (ICE) market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific (APAC) dominates the internal combustion engine (ICE) market because of the increase in demand of the product from the various end-use verticals such as construction, mining, agriculture, power generation.
North America is expected to witness significant growth during the forecast period of 2025 to 2032 due to the high car adoption rate in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Internal Combustion Engine (ICE) Market Share
The internal combustion engine (ICE) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to internal combustion engine (ICE) market.
Internal Combustion Engine (ICE) Market Leaders Operating in the Market Are:
- AGCO Corporation (US)
- ASHOK LEYLAND (India)
- Hino Motors, Ltd. (Japan)
- Bosch Limited (Germany)
- Caterpillar (US)
- Cummins Inc. (US)
- Ford Motor Company (US)
- Kirloskar Oil Engines Ltd. (India)
- General Motors (US)
- Mahindra & Mahindra Ltd. (India)
- Navistar, Inc. (US)
- Rolls-Royce plc (UK)
- Shanghai Diesel Engine Co., Ltd. (SDEC) (China)
- Volkswagen AG (Germany)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- Volvo Car Corporation (Sweden)
- Groupe Renault (France)
- Doosan Infracore (South Korea)
- MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
- Fiat Chrysler Automobiles (UK)
- Hyundai Heavy Industries Co., Ltd (South Korea)
SKU-
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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