The internal combustion engine, the most common engine used in commercial and consumer vehicles, is a study in contrasts when it comes to environmental considerations. On the one hand, there is pressure to discontinue or reduce use of these gas-powered engines because of CO2 emissions. On the other hand, there is no better-performing means of power generation for vehicles than gas engines. This has created a dilemma pitting intangible environmental impacts against ease-of-use, low cost and superior performance expectations of consumers and commercial users.
The answer to this dilemma in the electric vehicle market is a hybrid. Rather than reducing the value and volume of internal combustion engines, electric hybrid vehicles are stimulating demand, granting new life to gas engines that are more compliant with environmental requirements. The nascent drone market is also developing to expand gas engine use for quadcopter peers and hybrid drones that can operate with greater utility. These markets are driving new opportunity for all gas engine manufacturers, many of whom are also vehicle producers.
The gas-powered engine market for electric vehicles and drones was worth REDACTED in 2017, and it is expected to grow to REDACTED in 2018 and then to REDACTED in 2023 at a compound annual growth rate (CAGR) of REDACTED from 2018 through 2023. North America is the leading adopter of this compromise between electric motors and gas engines, largely due to the high expectation of performance and economy of U.S. consumers and commercial users. The region invested REDACTED in gas and electric vehicle drones 2017, and it is expected to invest REDACTED in 2018 and then REDACTED in 2023 at a CAGR of REDACTED.
Following a similar pattern is the European market, where environmental concerns are even more pressing due to national and regional regulations that require the use of electric vehicles. Hybrid investments occurred at the rate of REDACTED in 2017 for the gas engine market, which will grow to REDACTED million in 2018 and then to REDACTED in 2023 at a CAGR REDACTED from 2018 to 2023. The Asia-Pacific region is also a strong market for electric vehicles, although the tendency is toward pure electric rather than hybrid vehicles, making for a smaller REDACTED gas engine market in 2017 that will grow to REDACTED in 2018 and then to REDACTED in 2023 at a CAGR REDACTED.
Rest of World markets are even less likely to adopt gas engines for electric vehicles or gas-powered drones. The total market value was REDACTED in 2017, growing to REDACTED in 2018 and then to REDACTED in 2023 at a CAGR of REDACTE D."
This report covers the global market for gas engines for drones and electric vehicles, including regional analysis of North America, Latin America, Europe, the Asia-Pacific region and the Rest of World. Component segments include automotive, consumer, commercial and other markets.
- A brief overview and industry analysis of the global market for gas engines for drones and electric vehicles
- Analyses of global market trends, with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Segmentation of the global market by technology type, end-use, application and major geographies, including North America, Europe, APAC, MEA and Latin America
- Assessment of the competitive dynamics of the market, including critical success factors such as research and development capability, installed base, branding and ecosystem influence and partnerships
- Company profiles of major players, including BAIC Group, BMW, Honda Motor Company Ltd., Nissan and Suzuki Motor Corp."