Future Market Insights
External Combustion Engine Market: Introduction
External combustion engine is an engine in which an operational fluid, is heated and compressed by combustion of an external fuel through the heat exchanger or an engine wall. Due to its big furnace and boiler, an external combustion engine is heavy, clumsy and huge with respect to structural design. Apart from these features, the important advantages of external combustion engine are low emission and low noise generation. External combustion engine are generally available in two type, steam engines and stirling engines. Among these, Stirling engines are highly preferable over the forecast period due to high efficiency compared to steam engines. They can use any heat sources and are also capable of quiet operations.
External combustion system are widely used in application such as thermal power plant, nuclear plant, ship, train and pump, but its efficiency is less as compared to internal combustion engine. ECT has commenced the development of radially new combustion engine which will be single piston.
External Combustion Engine Market: Dynamics
The External combustion engine market is expected to gain traction over the forecast period owing to flexibility in arrangement and can use any source to supply heat. External combustion engine burns fuel outside the power cylinder is expected to be a major factor in favor of profound use of external combustion engine market over the forecast period. Moreover, External combustion engine use any sources such as municipal waste, geothermal, biomass or solar to supply heat which is also considered as a factor which give traction to the growth of market. Additionally, due to external combustion flexibility in arrangement is feasible will further drive the external combustion engine over the forecast period. That apart, the different benefits of external combustion system such as continuous external combustion which reduces emission and elimination of exhaust of high pressure combustion products which reduces noise will also add to the growth of market.
External combustion engine generally takes long time to put in action which is anticipated to hamper the growth of external combustion engine market over the forecast period. Moreover, risk factor such as bursting of boiler due to excess of steam pressure has prompted the end users to vouch for alternate equipment. This move is expected to act as a restraining factor to the growth of external combustion engine market during the forecast period. Furthermore, high investment cost and low efficiency of external combustion engine are expected to hinder the growth of market over the forecast period.
External Combustion Engine Market: Segmentation
The global external combustion engine market can be segmented based on product type and application.
By product type, the external combustion engine market can be segmented into:
By application, the external combustion engine market can be segmented into:
External Combustion Engine Market: Region-wise Outlook
The external combustion engine market is mainly dominated by the Asia pacific region especially in China, India and Japan, owing to rapid industrialization and growing power plants across the region. Also, significant growth of marine industry in APAC region which contributed substantially in growth of the external combustion engine market over the forecast period. The external combustion engine market is expected to register rich growth in APAC region over the forecast period. North America followed by Europe are the major market for the external combustion engine, due to rising demand of external combustion engine in these region for various applications such as pumps, ships, power plants, etc. North America and Europe external combustion engine market is expected to grow steadily over the forecast period. Moreover, Latin America and Middle East and Africa external combustion engine market is expected to register slow growth over the forecast period.
External Combustion Engine Market: Market Participants
Examples of some of the market participants identified across the value chain of the global external combustion engine market include:
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