The reciprocating engine market is anticipated to observe exponential growth over the coming time period owing to increasing electricity demand across developing nations, rising instances of power failures, aging grid infrastructure, growing focus toward combine cycle generation, and rapid expansion of small-scale industries, commercial establishments and cogeneration plants.

A reciprocating engine refers to an engine that utilizes one or even more pistons in order to change pressure into rotational motion. This engine is also known as piston engine and is known to be one of two kinds of combustion engine, that function by combusting fuel to form energy. These types of engines are usually more common in numerous industries.

Reciprocating engines also play a key role in enhancing efficiency on the central power grid. To be specific, these engines could decrease peak demand on the grid mainly by temporarily producing power for a group of customers or a single electric customer. These also play another essential safety role on the grid, specifically in emergency diesel-based generators. These kinds of engines are well suited to an assortment of distributed generation applications and are majorly utilized across institutional facilities, commercial, and industrial sectors for CHP and power generation.

The reciprocating engine market is segmented into numerous segments in terms of fuel type, rated power, application, and regional landscape.

Based on fuel type, the overall market is classified into diesel-fired, gas-fired, and other. Growing consumer inclination toward energy optimization along with robust industrial growth will augment the growth of gas-fired segment. These types of engines are fueled with natural gas and are suitable for CHP service.

With respect to rated power the reciprocating engine market is categorized into > 7.5 MW, > 5 MW - 7.5 MW, > 3.5 MW - 5 MW, > 2 MW - 3.5 MW, > 1 MW - 2 MW, and 0.5 MW - 1 MW. Rapid expansion of small-scale industries, commercial establishments and cogeneration plants will fuel the 0.5 MW - 1 MW product penetration.

Meanwhile, the > 3.5 MW - 5 MW segment will witness tremendous growth due to increasing electricity demand across the developing nations.

In terms of application, the overall reciprocating engine market is bifurcated into mechanical, marine, and power. Among these power application segment will dominate the market owing to growing utilization of cogeneration technologies coupled with rising focus toward combine cycle generation thus complementing the business growth.

From a regional frame of reference, Latin America reciprocating engine market will witness substantial growth owing to numerous factors such as increasing power failures, intensifying natural calamities and aging grid infrastructure.