Reciprocating Engine Market to hit $48 billion by 2027, Says Global Market Insights, Inc.

Reciprocating Engine Industry is projected to register over 3.5% CAGR between 2021 and 2027, owing to increasing demand for electricity along with growing seaborne trade across the developing economies.

Global reciprocating engine market value is anticipated to cross USD 48 Billion by 2027, as reported in the latest study by Global Market Insights, Inc. Global industry is set to grow on account of accelerating utilization of cogeneration technologies and increasing renewable capacity addition. Stringent government policies toward limiting GHG emissions coupled with surging frequency of weather-related disasters will favour the industry dynamics. Moreover, rising demand for reliable and continuous power supply along with accelerating industrial sector from will boost the product adoption.

7.5 MW reciprocating engine industry is projected to grow owing to rapid development of industries, cogeneration plants and commercial establishments. Surging power failures, aging grid infrastructure, and escalating natural calamities will amplify the business landscape. Paradigms shift towards renewables & cleaner energy sources along with concerns on fossil fuel consumption will support the business landscape.

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