내연기관(ICE) 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트와 예측(2024-2032년)

Growth Factors of internal combustion engine (ICE) Market

The global internal combustion engine (ICE) market continues to remain a cornerstone of global mobility and industrial applications despite the strong rise of electric vehicles. As per the latest analysis, the market was valued at USD 280.09 billion in 2024, is projected to rise to USD 293.32 billion in 2025, and is forecast to reach USD 499.94 billion by 2032, recording steady growth driven by demand for fuel-powered vehicles, industrial machinery, and expanding transportation networks. In 2024, Asia Pacific led the market with an impressive 49.75% share, powered by strong automotive production and increasing consumption of heavy-duty engines.

Internal combustion engines remain widely used across on-road transportation, aviation, shipping, agriculture, construction, and industrial power generation. These engines operate by burning hydrocarbon fuels such as gasoline, diesel, natural gas, and ethanol inside a confined chamber, generating high-pressure gases to power mechanical systems. Major manufacturers like Cummins Inc. have expanded their portfolio to include natural gas, hydrogen, and G-Drive engines, highlighting the industry's transition toward diversified and cleaner ICE technologies.

Market Drivers

Growing technological advancement continues to be a key driver of ICE demand. Innovations including turbocharging, variable valve timing, lightweight engine blocks, and advanced thermal management systems have significantly improved engine durability, fuel economy, and performance. Automotive manufacturers are focusing heavily on R&D to enhance engine efficiency and reduce emissions to comply with evolving regulations. These innovations are making ICE vehicles more competitive even as EVs gain traction.

A second major driver is the global increase in vehicle sales, especially in emerging regions. Although the automotive sector experienced supply chain disruptions during the pandemic, it has since rebounded. Nations such as China have accelerated exports of low-cost ICE vehicles to Mexico and Europe, strengthening global ICE demand. Rising population, expanding urbanization, and increased road infrastructure continue to fuel the market's long-term growth.

Market Restraints

One significant challenge is the growing imposition of strict emission regulations worldwide. Governments in Europe, the U.S., and Asia are implementing tighter pollution norms, pushing consumers toward hybrids and electric vehicles. The International Energy Agency (IEA) reported that nearly 14 million electric cars were registered worldwide in 2023, bringing the global EV fleet to 40 million. As EV adoption accelerates, ICE manufacturers face rising compliance costs and competitive pressure.

Market Opportunities

Despite constraints, rising disposable incomes and rapid urbanization present major opportunities for ICE market expansion, particularly in developing countries. Increased purchasing power in Asia, Africa, and Latin America is driving demand for affordable two-wheelers, commercial vehicles, and passenger cars-segments still predominantly powered by ICE engines. Expansions in road infrastructure, logistics, and construction further boost demand for industrial and heavy-duty engines.

Market Trends

The market is witnessing a strong pivot toward fuel-efficient performance. Consumer demand for economical fuel consumption and government pressure to reduce carbon emissions are accelerating the development of cleaner, high-performance fuels. In 2023, HPCL introduced poWer95, a premium petrol designed to improve engine output and vehicle performance, reflecting the shift toward advanced fuel technologies supporting ICE enhancements.

Segmental Highlights

By Fuel Type

The gasoline segment dominated the market in 2024 with a 65% share, driven by global availability and high fuel efficiency. Goldman Sachs projects gasoline demand to peak between 2030-2035 due to slower-than-expected EV adoption. Natural gas emerges as the fastest-growing segment due to cost-effectiveness and lower emissions.

By Application

The automotive segment leads the market, expected to maintain a 52% share in 2025, driven by demand across bikes, commercial vehicles, and heavy-duty vehicles. The marine segment is expanding swiftly, aided by the introduction of ammonia as a zero-carbon marine fuel. Industrial machinery and equipment also represent fast-growing application categories.

Regional Analysis

Asia Pacific - USD 139.36 Billion (2024)

Asia Pacific dominates the global ICE market, driven by growing automotive manufacturing in China and India. China's adoption of hydrogen and synthetic fuels is reshaping the region's technological landscape. India and Japan are also witnessing steady growth due to strong automotive and industrial activity.

North America

Projected to reach USD 52.64 billion in 2025, North America remains a major market supported by strong automobile and aerospace industries. Innovations such as hybrid-electric aircraft further accelerate demand.

Europe

Expected to reach USD 61.40 billion in 2025, Europe is the fastest-growing region due to demand for industrial machinery and fuel-powered equipment. Germany, France, and the U.K. show strong adoption of advanced ICE technologies.

Conclusion

As the global market grows from USD 280.09 billion in 2024 to USD 293.32 billion in 2025, and is expected to reach USD 499.94 billion by 2032, the internal combustion engine industry remains vital to global infrastructure, transportation, and industrial activities. While EV adoption presents competition, technological innovation, rising vehicle demand, and emerging clean-fuel engines ensure sustained ICE relevance through 2032.

Segmentation By Fuel

• Natural Gas
• Gasoline
• Others

By Application

• Automotive
• Marine
• Aircraft
• Others

By Region

• North America (By Fuel, By Application and By Country)
  • U.S. (By Application)
  • Canada (By Application)
• Europe (By Fuel, By Application, and By Country)
  • U.K. (By Application)
  • Germany (By Application)
  • France (By Application)
  • Italy (By Application)
  • Spain (By Application)
  • Russia (By Application)
  • Rest of Europe (By Application)
• Asia Pacific (By Fuel, By Application, and By Country)
  • Japan (By Application)
  • India (By Application)
  • China (By Application)
  • South Korea (By Application)
  • Rest of Asia Pacific (By Application)
• Latin America (By Fuel, By Application, and By Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America (By Application)
• Middle East & Africa (By Fuel, By Application, and By Country)
  • GCC (By Application)
  • South Africa (By Application)
  • Rest of Middle East & Africa (By Application)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions & Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Emerging Trends - For Major Countries
• 4.2. Latest Technological Advancement
• 4.3. Insight on Regulatory Landscape
• 4.4. Porters Five Forces Analysis
• 4.5. Impact of COVID-19 on the Global Internal Combustion Engine Market

5. Global Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 5.1. Key Findings
• 5.2. Market Analysis, Insights, and Forecast - By Fuel
  • 5.2.1. Natural Gas
  • 5.2.2. Gasoline
  • 5.2.3. Others
• 5.3. Market Analysis, Insights, and Forecast - By Application
  • 5.3.1. Automotive
  • 5.3.2. Marine
  • 5.3.3. Aircraft
  • 5.3.4. Others
• 5.4. Market Analysis, Insights, and Forecast - By Region
  • 5.4.1. North America
  • 5.4.2. Europe
  • 5.4.3. Asia Pacific
  • 5.4.4. Latin America
  • 5.4.5. Middle East & Africa

6. North America Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 6.1. Key Findings
• 6.2. Market Analysis, Insights, and Forecast - By Fuel
  • 6.2.1. Natural Gas
  • 6.2.2. Gasoline
  • 6.2.3. Others
• 6.3. Market Analysis, Insights, and Forecast - By Application
  • 6.3.1. Automotive
  • 6.3.2. Marine
  • 6.3.3. Aircraft
  • 6.3.4. Others
• 6.4. Market Analysis, Insights, and Forecast - By Country
  • 6.4.1. U.S. Market Analysis, Insights, and Forecast - By Application
    • 6.4.1.1. Automotive
    • 6.4.1.2. Marine
    • 6.4.1.3. Aircraft
    • 6.4.1.4. Others
  • 6.4.2. Canada Market Analysis, Insights, and Forecast - By Application
    • 6.4.2.1. Automotive
    • 6.4.2.2. Marine
    • 6.4.2.3. Aircraft
    • 6.4.2.4. Others

7. Europe Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 7.1. Key Findings
• 7.2. Market Analysis, Insights, and Forecast - By Fuel
  • 7.2.1. Natural Gas
  • 7.2.2. Gasoline
  • 7.2.3. Others
• 7.3. Market Analysis, Insights, and Forecast - By Application
  • 7.3.1. Automotive
  • 7.3.2. Marine
  • 7.3.3. Aircraft
  • 7.3.4. Others
• 7.4. Market Analysis, Insights, and Forecast - By Country
  • 7.4.1. UK Market Analysis, Insights, and Forecast - By Application
    • 7.4.1.1. Automotive
    • 7.4.1.2. Marine
    • 7.4.1.3. Aircraft
    • 7.4.1.4. Others
  • 7.4.2. Germany Market Analysis, Insights, and Forecast - By Application
    • 7.4.2.1. Automotive
    • 7.4.2.2. Marine
    • 7.4.2.3. Aircraft
    • 7.4.2.4. Others
  • 7.4.3. France Market Analysis, Insights, and Forecast - By Application
    • 7.4.3.1. Manufacturing
    • 7.4.3.2. Automotive
    • 7.4.3.3. Marine
    • 7.4.3.4. Aircraft
    • 7.4.3.5. Others
  • 7.4.4. Italy Market Analysis, Insights, and Forecast - By Application
    • 7.4.4.1. Automotive
    • 7.4.4.2. Marine
    • 7.4.4.3. Aircraft
    • 7.4.4.4. Others
  • 7.4.5. Spain Market Analysis, Insights, and Forecast - By Application
    • 7.4.5.1. Automotive
    • 7.4.5.2. Marine
    • 7.4.5.3. Aircraft
    • 7.4.5.4. Others
  • 7.4.6. Russia Market Analysis, Insights, and Forecast - By Application
    • 7.4.6.1. Automotive
    • 7.4.6.2. Marine
    • 7.4.6.3. Aircraft
    • 7.4.6.4. Others
  • 7.4.7. Rest of Europe Market Analysis, Insights, and Forecast - By Application
    • 7.4.7.1. Automotive
    • 7.4.7.2. Marine
    • 7.4.7.3. Aircraft
    • 7.4.7.4. Others

8. Asia Pacific Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 8.1. Key Findings
• 8.2. Market Analysis, Insights, and Forecast - By Fuel
  • 8.2.1. Natural Gas
  • 8.2.2. Gasoline
  • 8.2.3. Others
• 8.3. Market Analysis, Insights, and Forecast - By Application
  • 8.3.1. Automotive
  • 8.3.2. Marine
  • 8.3.3. Aircraft
  • 8.3.4. Others
• 8.4. Market Analysis, Insights, and Forecast - By Country
  • 8.4.1. Japan Market Analysis, Insights, and Forecast - By Application
    • 8.4.1.1. Automotive
    • 8.4.1.2. Marine
    • 8.4.1.3. Aircraft
    • 8.4.1.4. Others
  • 8.4.2. India Market Analysis, Insights, and Forecast - By Application
    • 8.4.2.1. Automotive
    • 8.4.2.2. Marine
    • 8.4.2.3. Aircraft
    • 8.4.2.4. Others
  • 8.4.3. China Market Analysis, Insights, and Forecast - By Application
    • 8.4.3.1. Automotive
    • 8.4.3.2. Marine
    • 8.4.3.3. Aircraft
    • 8.4.3.4. Others
  • 8.4.4. South Korea Market Analysis, Insights, and Forecast - By Application
    • 8.4.4.1. Automotive
    • 8.4.4.2. Marine
    • 8.4.4.3. Aircraft
    • 8.4.4.4. Others
  • 8.4.5. Rest of Asia Pacific Market Analysis, Insights, and Forecast - By Application
    • 8.4.5.1. Automotive
    • 8.4.5.2. Marine
    • 8.4.5.3. Aircraft
    • 8.4.5.4. Others

9. Latin America Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 9.1. Key Findings
• 9.2. Market Analysis, Insights, and Forecast - By Fuel
  • 9.2.1. Natural Gas
  • 9.2.2. Gasoline
  • 9.2.3. Others
• 9.3. Market Analysis, Insights, and Forecast - By Application
  • 9.3.1. Automotive
  • 9.3.2. Marine
  • 9.3.3. Aircraft
  • 9.3.4. Others
• 9.4. Market Analysis, Insights, and Forecast - By Country
  • 9.4.1. Brazil Market Analysis, Insights, and Forecast - By Application
    • 9.4.1.1. Automotive
    • 9.4.1.2. Marine
    • 9.4.1.3. Aircraft
    • 9.4.1.4. Others
  • 9.4.2. Mexico Market Analysis, Insights, and Forecast - By Application
    • 9.4.2.1. Automotive
    • 9.4.2.2. Marine
    • 9.4.2.3. Aircraft
    • 9.4.2.4. Others
  • 9.4.3. Rest of Latin America Market Analysis, Insights, and Forecast - By Application
    • 9.4.3.1. Automotive
    • 9.4.3.2. Marine
    • 9.4.3.3. Aircraft
    • 9.4.3.4. Others

10. Middle East & Africa Internal Combustion Engine Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032

• 10.1. Key Findings
• 10.2. Market Analysis, Insights, and Forecast - By Fuel
  • 10.2.1. Natural Gas
  • 10.2.2. Gasoline
  • 10.2.3. Others
• 10.3. Market Analysis, Insights, and Forecast - By Application
  • 10.3.1. Automotive
  • 10.3.2. Marine
  • 10.3.3. Aircraft
  • 10.3.4. Others
• 10.4. Market Analysis, Insights, and Forecast - By Country
  • 10.4.1. GCC Market Analysis, Insights, and Forecast - By Application
    • 10.4.1.1. Automotive
    • 10.4.1.2. Marine
    • 10.4.1.3. Aircraft
    • 10.4.1.4. Others
  • 10.4.2. South Africa Market Analysis, Insights, and Forecast - By Application
    • 10.4.2.1. Automotive
    • 10.4.2.2. Marine
    • 10.4.2.3. Aircraft
    • 10.4.2.4. Others
  • 10.4.3. Rest of Middle East & Africa Market Analysis, Insights, and Forecast - By Application
    • 10.4.3.1. Automotive
    • 10.4.3.2. Marine
    • 10.4.3.3. Aircraft
    • 10.4.3.4. Others

11. Competitive Analysis

• 11.1. Company Market Share Analysis, 2024
• 11.2. Company Profile
  • 11.2.1. Toyota Motor Corporation
    • 11.2.1.1. Business Overview
    • 11.2.1.2. Product & Services Offerings
    • 11.2.1.3. Recent Developments
    • 11.2.1.4. Financials (Based on Availability)
  • 11.2.2. AB Volvo
    • 11.2.2.1. Business Overview
    • 11.2.2.2. Product & Services Offerings
    • 11.2.2.3. Recent Developments
    • 11.2.2.4. Financials (Based on Availability)
  • 11.2.3. Mahindra & Mahindra Ltd.
    • 11.2.3.1. Business Overview
    • 11.2.3.2. Product & Services Offerings
    • 11.2.3.3. Recent Developments
    • 11.2.3.4. Financials (Based on Availability)
  • 11.2.4. Volkswagen Group
    • 11.2.4.1. Business Overview
    • 11.2.4.2. Product & Services Offerings
    • 11.2.4.3. Recent Developments
    • 11.2.4.4. Financials (Based on Availability)
  • 11.2.5. Rolls-Royce plc
    • 11.2.5.1. Business Overview
    • 11.2.5.2. Product & Services Offerings
    • 11.2.5.3. Recent Developments
    • 11.2.5.4. Financials (Based on Availability)
  • 11.2.6. MAN
    • 11.2.6.1. Business Overview
    • 11.2.6.2. Product & Services Offerings
    • 11.2.6.3. Recent Developments
    • 11.2.6.4. Financials (Based on Availability)
  • 11.2.7. Renault Group
    • 11.2.7.1. Business Overview
    • 11.2.7.2. Product & Services Offerings
    • 11.2.7.3. Recent Developments
    • 11.2.7.4. Financials (Based on Availability)
  • 11.2.8. Mitsubishi Heavy Industries, Ltd.
    • 11.2.8.1. Business Overview
    • 11.2.8.2. Product & Services Offerings
    • 11.2.8.3. Recent Developments
    • 11.2.8.4. Financials (Based on Availability)
  • 11.2.9. General Motors
    • 11.2.9.1. Business Overview
    • 11.2.9.2. Product & Services Offerings
    • 11.2.9.3. Recent Developments
    • 11.2.9.4. Financials (Based on Availability)
  • 11.2.10. Ford Motor Company
    • 11.2.10.1. Business Overview
    • 11.2.10.2. Product & Services Offerings
    • 11.2.10.3. Recent Developments
    • 11.2.10.4. Financials (Based on Availability)
  • 11.2.11. Caterpillar
    • 11.2.11.1. Business Overview
    • 11.2.11.2. Product & Services Offerings
    • 11.2.11.3. Recent Developments
    • 11.2.11.4. Financials (Based on Availability)
  • 11.2.12. AGCO Corporation
    • 11.2.12.1. Business Overview
    • 11.2.12.2. Product & Services Offerings
    • 11.2.12.3. Recent Developments
    • 11.2.12.4. Financials (Based on Availability)