Who are the key players in Europe Internal Combustion Engines Market?

Audi, Toyota Motor Corporation, Volkswagen Group, Volvo ab and MAN SE are the major companies operating in the Europe Internal Combustion Engines Market. Read More

What years does this Europe Internal Combustion Engines Market cover, and what was the market size in 2023?

In 2023, the Europe Internal Combustion Engines Market size was estimated at USD 43.93 billion. The report covers the Europe Internal Combustion Engines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Internal Combustion Engines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Europe Internal Combustion Engines Market Size

Market Size of Europe Internal Combustion Engines Industry

Europe Internal Combustion Engines Market Summary

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 45.81 Billion
Market Size (2029)	USD 56.03 Billion
CAGR (2024 - 2029)	4.10 %
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Europe Internal Combustion Engines Market Analysis

The Europe Internal Combustion Engines Market size is estimated at USD 45.81 billion in 2024, and is expected to reach USD 56.03 billion by 2029, growing at a CAGR of 4.10% during the forecast period (2024-2029).

Over the medium term, increasing demand for ICE two-wheelers and the rise of plug-in hybrid ICE vehicles (PHEV) are expected to drive the growth of the Europe Internal Combustion Engines Market during the forecast period.
On the other hand, the rising battery electric vehicle market and demand for the adoption of cleaner fuels in regard to the green climate goals are expected to hinder the growth of Europe's internal combustion engine market during the forecast period.
Nevertheless, technological innovation and adaptation of the latest technologies in plug-in hybrid vehicles are likely to create opportunities for the European internal combustion engine market during the forecast period.
Germany dominates the market and is also likely to witness the highest grwoth during the forecast period.

Europe Internal Combustion Engines Industry Segmentation

An internal combustion engine, typically used in motive cars, trucks, buses, and locomotives, is a heat engine in which the combustion of a liquid/gaseous fuel occurs with air/oxygen in a combustion chamber that is an essential part of the working fuel. The chemical expansion of the high-pressure and high-temperature gases produced by combustion applies direct force to the engine's components. This force is typically applied to pistons, gas turbine blades, a rotor engine, or a jet engine.

The Europe Internal Combustion Engines Market is Segmented by Capacity, Fuel Type, and Geography. By capacity, the market is segmented into 50 cm3 to 200 cm3, 201 cm3 to 800 cm3, 801 cm3 to 1500 cm3 and 1501 cm3 to 3000 cm3. By Fuel Type, the market is segmented into Gasoline, Diesel, and Others. By Geography, the market is segmented into the United Kingdom, Italy, France, Germany, Russia, NORDIC, Turkey, Spain, and Rest of Europe.

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Europe Internal Combustion Engines Market Size Summary

The Europe Internal Combustion Engines Market is poised for growth over the forecast period, driven by increasing demand for two-wheelers and the rise of plug-in hybrid vehicles. Despite the growing shift towards battery electric vehicles and cleaner fuels, which pose challenges to the market, technological advancements in plug-in hybrids are expected to create new opportunities. Germany stands out as a dominant player in this market, benefiting from a significant transition towards electric vehicles while still maintaining a strong presence of diesel and petrol-powered vehicles. The country's market is supported by the continued popularity of diesel engines in commercial vehicles and the adoption of renewable diesel, which offers a promising outlook for diesel engine manufacturers.

The market landscape is moderately fragmented, with key players such as Audi, Volkswagen Group, Volvo AB, MAN SE, BMW, Hyundai Motors, and Toyota Motor Corporation actively participating. Recent developments, such as Jeep's introduction of a mildly-electrified internal combustion engine powertrain and Chery's plans to launch various engine models in Europe, highlight the ongoing innovation and adaptation within the industry. These efforts underscore the resilience of internal combustion engines in Europe, even as the market navigates the challenges posed by the transition to greener energy sources.

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Europe Internal Combustion Engines Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD billion, till 2029
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Increasing demand for ICE two-wheelers
    2. 1.5.1.2 Rise of plug-in hybrid ICE vehicles (PHEV)
  2. 1.5.2 Restraints
    1. 1.5.2.1 Rising Battery electric vehicle market
6. 1.6 Supply Chain Analysis
7. 1.7 Porter's Five Forces Analysis
  1. 1.7.1 Bargaining Power of Suppliers
  2. 1.7.2 Bargaining Power of Consumers
  3. 1.7.3 Threat of New Entrants
  4. 1.7.4 Threat of Substitutes Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry
8. 1.8 Investment Analysis
2. MARKET SEGMENTATION
1. 2.1 By capacity
  1. 2.1.1 50 cm3 to 200 cm3
  2. 2.1.2 201 cm3 to 800 cm3
  3. 2.1.3 801 cm3 to 1500 cm3
  4. 2.1.4 1501 cm3 to 3000 cm3
2. 2.2 By Fuel Type
  1. 2.2.1 Gasoline
  2. 2.2.2 Diesel
  3. 2.2.3 Others
3. 2.3 Geography
  1. 2.3.1 United Kingdom
  2. 2.3.2 Italy
  3. 2.3.3 France
  4. 2.3.4 Germany
  5. 2.3.5 Russia
  6. 2.3.6 NORDIC
  7. 2.3.7 Turkey
  8. 2.3.8 Rest of Europe

Europe Internal Combustion Engines Market Size FAQs

How big is the Europe Internal Combustion Engines Market?

The Europe Internal Combustion Engines Market size is expected to reach USD 45.81 billion in 2024 and grow at a CAGR of 4.10% to reach USD 56.03 billion by 2029.