External Combustion Engine: Introduction
- In an external combustion engine, fuel is burned externally to produce thermal energy; the burning fuel releases thermal energy, which is used to heat water. The high pressure steam generated due to the heating of the water moves a piston inside the cylinder. The kinetic energy of the moving piston is converted into mechanical energy. There are two types of external combustion engines: Steam engine and Stirling engine. The Stirling engine is extensively in the submarines and yachts where no external valves are required. Striling engines are highly efficient, as compared to steam engines. External combustion engines generate less noise and emission, as compared to that generated by internal combustion engines.
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Key Drivers of External Combustion Engine Market
- Rising number of power stations across the globe is likely to boost the external combustion engine market. Growing environmental awareness across the globe is likely to further increase the use of external combustion engine as, external combustion engines use various sources including municipal waste, biomass, geothermal and solar to supply heat, which is anticipated to boost the external combustion engine market across the globe. Rise in demand for steam engines across the globe for the development of electricity across the globe is projected to propel the external combustion engine market across the globe.
- Major power plants demands external combustion engines, as they generate less external noise and help reduce exhaust high pressure combustion products, which in turn is likely to boost the external combustion engine market across the globe. Expansion of railway manufacturing companies across the globe is anticipated to increase the demand for external combustion engines across the globe.
Europe & Asia Pacific to hold significant share of global external combustion engine market
- Europe is projected to account for a major share of the global external combustion engine market due to rapid increase in industrialization across the region. Rise in demand for external combustion engines from power plant stations is likely to boost the external combustion engine market across the region.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global external combustion engine market due to major presence of thermal power plants across the region. Major developed countries including China and Japan have nuclear power plants, which is likely to increase the demand for external combustion engines across these countries.
Key Players Operating in External Combustion Engine Market
The global external combustion engine market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global external combustion engine market are:
- Stirling Thermal Motors Inc.
- Aisin Seiki Co. Ltd.
- Sterling Power Systems Corporation
- Sunpower Inc.
- Saab AB
- Reliable Engine Co.
- Microgen Engine Corporation
- Deere & Company
- Yanmar Holdings Co. Ltd
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Global External Combustion Engine Market: Research Scope
Global External Combustion Engine Market, by Type
- Steam Engine
- Stirling Engine
Global External Combustion Engine Market, by Application
- Steam Power Plant
- Nuclear Power Plant
Global External Combustion Engine Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.