Middle East & Africa Small Internal Combustion Engine Market Forecast to 2027
The small ice cream market in MEA region is expected to grow from US $ 209.98 million in 2020 to US $ 289.39 million by 2027; it is estimated to increase at a CAGR of 4.7% from 2020 to 2027. Developing countries, such as India, China and Brazil, are more dependent on fossil fuels for electricity, automobiles, manufacturing, transportation and other sectors.
New York, August 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the Report “Middle East and Africa Small Internal Combustion Engine Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by fuel type, cylinders, power output and end use industry â- https://www.reportlinker.com/p06103238/?utm_source=GNW
The growing population and the lack of supporting infrastructure for electrical technologies are the main factors supporting the small internal combustion engine market. Electric motors, electrical appliances, and cars are even more expensive for customers than internal combustion engines. As a result, due to the price constraint, countries do not implement any bans on internal combustion engines, which supports market growth. Although emission standards are improving for small internal combustion engines for which manufacturers are improving the solution. According to World Bank Group data on access to electricity, in South Asia, about 91.6% of the population has access to electricity. In addition, the consumption of electricity for basic uses in countries such as China and India increases with increasing population, due to which countries use fossil fuels to generate electricity. Such dominance of internal combustion engines in developing countries creates an opportunity for the market to offer advanced solutions. For example, according to Bosch Ltd, 80% or more of vehicles sold in India by 2030 would still be powered by internal combustion engines. The reliance of developing countries on fossil fuels and internal combustion engines is a strong growth opportunity for the market, which further drives demand for the small ice cream market. Another factor that should positively influence demand is the increased consumption of combustion engines.
To reduce the impact of COVID-19, governments in the MEA region have adopted contingency plans such as a full lockdown and a 24-hour sterilization program. The introduction of lockdowns resulted in the shutdown of manufacturing and transportation activities in the region.
The downturn in manufacturing and transportation activities in the region had a direct impact on ICE’s small sales in the region. Additionally, most businesses in the region have shut down and are expected to continue slower than usual.
Countries are taking significant containment measures to reduce the number of infected patients. The COVID-19 pandemic epidemic, which has severely affected the manufacturing and transportation industry and oil and gas industry projects, has resulted in lower sales of the small ICE in the Middle East and Africa.
Several African oil and gas industry giants, such as ExxonMobil, Total SE, BP and Royal Dutch, have reduced their CAPEX by more than 20% in 2020. This has resulted in the delay or blockage of future projects. The decline in FDI flows in the region. However, positive demand has been noticed in the ongoing renewable energy projects in the MEA region.
The transportation segment dominated the MEA small ice cream market based on the type of end-use industry in 2019. The transportation sector is growing with technological advancement and moving towards compact and fuel efficient solutions.
Manufacturers of transport vehicles such as minibuses and industrial transport vehicles make optimal use of the available spaces in vehicles to improve their performance through weight reduction. In addition, new regulations imposed by various governments regarding vehicle emissions are boosting the growth of the market.
Companies are developing a new engine solution to meet these regulatory standards for commercial passenger vehicles. For example, Germany and India have introduced new regulations (EU V regulation and Indian BS III regulation, respectively) regarding vehicle emissions.
These regulations prompt manufacturers to produce compact IC motors to reduce fuel consumption and emissions, which is ultimately the driving force behind the small ICE market.
The overall MEA Small ICE market size was derived using primary and secondary sources. To begin the research process, a comprehensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves to get overview and forecast for the MEA Small ICE market with respect to all segments relating to the region. In addition, several primary interviews were conducted with participants and industry commentators to validate the data, as well as to gain more analytical information on the topic.
Participants who typically participate in such a process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as as valuation experts, research analysts and key opinion leaders specializing in small MEA. ICE MARKET. Caterpillar Inc .; Kawasaki Heavy Industries, Ltd .; MITSUBISHI HEAVY INDUSTRIES, LTD; Liebherr; YANMAR HOLDINGS CO., LTD. ; Cummins, Inc; INNIO; WÃ¤rtsilÃ¤ Corporation; and Rolls-Royce Holdings plc are among the leading companies in MEA’s small ice cream market.
Read the full report: https://www.reportlinker.com/p06103238/?utm_source=GNW
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