According to the latest TechSci Research report, “Internal Combustion Engine Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F,” the global internal combustion engine (ICE) market was valued at USD 283.11 billion in 2024 and is projected to reach USD 399.28 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.74%. This steady growth trajectory is underpinned by the persistent global demand for personal and commercial vehicles, especially in emerging economies where urbanization, rising disposable incomes, and infrastructure development are accelerating vehicle ownership and freight transportation.
While the automotive industry is witnessing a gradual shift toward electric vehicles (EVs), internal combustion engines remain the dominant powertrain technology. This dominance is sustained by the well-established global supply chains, broad availability of fuel infrastructure, and the relative affordability of ICE-powered vehicles. In many parts of the world, particularly in developing regions, ICE vehicles continue to be the most viable and practical transportation solution.
One of the key strengths of internal combustion engines lies in their versatility and reliability across a wide range of applications. Beyond passenger cars and commercial vehicles, ICEs are extensively used in sectors such as agriculture, construction, marine, and stationary power generation. Their proven durability and high power output make them indispensable in heavy-duty and industrial operations.
Technological advancements are further strengthening the competitiveness of ICEs. Innovations such as turbocharging, direct fuel injection, variable valve timing, and cylinder deactivation have significantly enhanced engine performance, improved fuel efficiency, and reduced harmful emissions. These developments are enabling manufacturers to meet increasingly strict environmental regulations while still leveraging the existing advantages of ICE technology.
Furthermore, the introduction and growing use of alternative fuels are contributing to a more sustainable ICE market. Fuels like compressed natural gas (CNG), liquefied petroleum gas (LPG), ethanol blends, and biodiesel are helping to lower the environmental impact of traditional combustion engines. In parallel, low-sulfur fuels are also becoming more widely available, further aiding in emission reduction.
The integration of internal combustion engines with electric motors in hybrid configurations is another major trend shaping the market. Hybrid vehicles offer a balanced solution—providing improved fuel economy and lower emissions while maintaining the convenience and extended range associated with conventional ICE vehicles. This is particularly valuable in regions where EV charging infrastructure remains limited or underdeveloped.
Automotive Sector Remains the Largest End-Use Segment
In 2024, the automotive segment accounted for the largest share of the internal combustion engine market. Demand in this segment is primarily fueled by rising global vehicle sales, particularly in fast-growing economies across Asia, Africa, and Latin America. Increasing personal mobility needs, expanding urban populations, and improvements in road and fuel infrastructure are major contributors to this trend.
Despite the rapid rise of EVs, internal combustion engines continue to dominate automotive powertrains, especially in areas where affordability, fueling infrastructure, and driving range are critical considerations for consumers. Many countries in the developing world still face significant barriers to widespread EV adoption, including high upfront costs and limited access to charging stations.
To adapt to tightening emissions regulations, automakers are actively enhancing ICE technologies. Strategies such as engine downsizing, integration of stop-start systems, and improved combustion techniques are helping manufacturers comply with regulatory standards while preserving vehicle performance and affordability. Hybrid ICE-electric powertrains are particularly gaining momentum as they provide an effective transitional solution, offering a blend of efficiency and familiarity.
Additionally, the automotive sector continues to benefit from a robust aftermarket and service infrastructure built around ICE vehicles. The availability of parts, service technicians, and maintenance expertise ensures the continued reliability and appeal of ICE-powered fleets, particularly for commercial operations. For logistics and freight companies, ICE vehicles remain the preferred choice due to their ability to handle long distances, heavy loads, and established fueling logistics.
Governments in several countries are also supporting cleaner ICE technologies through tax incentives, alternative fuel subsidies, and research initiatives aimed at reducing emissions. This support is helping extend the lifecycle of ICEs even as the global market gradually pivots toward more sustainable mobility solutions.
Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on the "Global Internal Combustion Engine Market.”
https://www.techsciresearch.com/report/internal-combustion-engine-market/29024.html
Asia Pacific Emerges as the Fastest-Growing Region
The Asia Pacific region is currently the fastest-growing market for internal combustion engines. Countries such as China, India, Indonesia, Vietnam, and the Philippines are experiencing rapid industrialization and urbanization, driving an increase in personal and commercial vehicle ownership. The growing middle class and rising consumer purchasing power in these nations are contributing significantly to the expansion of the automotive sector.
Moreover, infrastructure development—including road networks, fuel stations, and repair facilities—supports the ongoing reliance on ICE vehicles across both urban and rural areas. While electric vehicle adoption is accelerating in some Asian markets, internal combustion engines continue to dominate due to their affordability, range, and compatibility with existing infrastructure.
Asia Pacific’s strong manufacturing base and automotive production capabilities also make it a key region for ICE development. Local and international automakers are investing heavily in the region, further fueling market growth. Even in markets where EV sales are increasing, the sheer scale of ICE vehicle demand ensures that traditional engines will remain relevant for years to come.
Conclusion
In summary, the global internal combustion engine market remains robust and resilient amid shifting trends in the mobility landscape. While electrification is gaining momentum, especially in developed economies, ICEs continue to play a vital role across numerous industries and geographies. Technological innovations, hybrid integrations, and alternative fuels are helping extend the relevance of ICEs, while growing economies and expanding transportation networks further boost market demand. As a result, internal combustion engines are poised to remain a central component of global transportation and industrial operations through 2030 and beyond.
Major companies operating in the Global Internal Combustion Engine Market are:
Volkswagen AG
Toyota Industries Corporation
Robert Bosch GmbH
Shanghai Diesel Engine Co., Ltd.
BMW AG
General Motors
AB Volvo
AGCO Corporation
Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=29024
Customers can also request 10% free customization in this report.
“The Global Internal Combustion Engine Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The internal combustion engine (ICE) market is positioned for continued growth, supported by robust demand for hybrid vehicles, increasing vehicle adoption in emerging markets, and sustained innovation in cleaner, more efficient engine technologies. As global transportation needs evolve—particularly in regions where electric vehicle infrastructure remains underdeveloped—ICEs continue to serve as a practical and reliable mobility solution.
Advancements in alternative fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), and biofuels are enhancing the environmental performance of ICEs while preserving their operational advantages. Therefore, the Market of Internal Combustion Engine is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Internal Combustion Engine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Fuel Type (Petroleum, Natural Gas), By End-User (Automotive, Marine, Aircraft), By Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global Internal Combustion Engine Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Internal Combustion Engine Market.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com
