All updated as on -
In 2022, the Stirling engine industry is predicted to be worth $1.1 billion. The market for Stirling Engines is expected to rise from USD 1.18 bn in 2023 to USD 2.10 bn in 2030, representing a CAGR (compound annual growth rate) of 8.50% between 2023 and 2030. Low temperature differentials in comparison to most other engines and an external heat source derived from a renewable or nonrenewable resource are the main market variables driving market expansion. A Stirling engine is a type of heat engine that generates mechanical energy through the repeated compression and expansion of air (or another gas, like helium, hydrogen, or nitrogen) at varying temperatures. To allow the working fluid to achieve a higher temperature than the surrounding medium, the engine cylinder is typically enclosed and insulated from the outside world.
The market CAGR for stirling engines is increasing because of the growing demand for low-emissions alternatives to conventional engines. The low-temperature difference that Stirling engines have and no other heat engine has is a major contributor to their high market value. Pollutant emissions and greenhouse gas emissions from conventional internal combustion engines are hazardous to human health and the environment. Research, development, and demonstration of alternatives to IC engines are under underway. The Stirling engine is a greener alternative to internal combustion engines. Although stirling engines were invented over 200 years ago, technological constraints prevented them from entering widespread commercial use. Concentrated solar electricity is more efficient when powered by a Stirling engine that is driven by the temperature gradient of the sun, which may work with a modest temperature gradient. According to the Statistical Review of Energy 2022, solar energy capacity rose by 226 GW in 2021, coming close to surpassing the record rise of 236 GW in 2020. The total amount of solar energy generated is expected to rise from 2020's 846.2 TWH to 2021's projected 1033 TWH. This demonstrates how consumer demand for low-emission alternatives and renewable energy sources will drive growth in the sterling engine market.
As oil prices rise, the demand for Stirling engines is expected to rise as well. World Bank Commodities Price Data 2023 shows that the price of petroleum rose dramatically from $41.3 per barrel in 2020 to $97.1 per barrel in 2022 due to several factors, including peak oil, climate change, and rising costs of conventional fuels. During the assessment period, these factors are predicted to raise demand for Stirling engines. The International Energy Agency predicts that in 2021, the average price of a barrel of oil would rise to $70.91, making it the second highest level since 2015. Energy costs will skyrocket in 2021. The price of a barrel of oil, as measured by either Brent or West Texas Intermediate, grew by more than 70% between 2020 and 2021, reaching roughly $70 at year's end. The increase in cost will prompt a shift by engine makers away from fossil fuels and towards renewable energy sources, accelerating the growth of the market for sterling engines. Because of this, sales of Stirling Engines are increasing.
The growth of the Stirling Engines market is being fueled by the efforts of major players in the market to invest heavily in research and development in order to expand their product lines. New product launches, contracts, mergers, acquisitions, increased investment, and partnerships are all examples of significant market changes. There are a variety of strategic moves being made by market participants. If the Stirling Engines company is to succeed in today's more cutthroat market, it must continue to offer competitively priced products.
Numerous nations have passed laws and regulations in line with the UN's sustainable development goals because of their significance. Greenhouse gases and air pollution released by traditional internal combustion engines are harmful to both the environment and human health. There are currently research, development, and demonstration efforts underway for alternatives to traditional IC engines. A Stirling engine offers a greener alternative to internal combustion engines. Although Stirling engines were invented over 200 years ago, technological limitations prevented them from entering widespread commercial use. The Stirling engine's popularity has grown in recent years as a result of technological developments. The market for Stirling engines can be broken down into various submarkets based on their various configurations. These three arrangements are the most common, but more arrangements are being investigated. The market for Stirling engines can be broken down into several subsets based on its end use, such as HVAC, solar power, marine propulsion, and other applications. Stirling engines find widespread use in marine propulsion and CHP (combined heat and power) systems. Stirling engines' potential application in concentrated solar power facilities is currently being researched. The Stirling engine market is divided into several submarkets based on the end user, which include homes, businesses, utilities, and others.
Report Coverage
Global Stirling Engines research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Stirling Engines report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Stirling Engines competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Stirling Engines market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Stirling Engines market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Stirling Engines market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Qnergy. (U.S.), United Sun Systems, International (Sweden), Sunpower Inc. (U.S.), Genoastirling S.r.l. (Italy), Microgen-Engine Corporation (Netherlands), ÖkoFEN Forschungs, and others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Stirling Engines market based on the below-mentioned segments:
Global Stirling Engines Market, By Type
Alpha
Beta
Gamma
Others
Global Stirling Engines market, By Application
Heating and Cooling
Solar Power Generation
Marine Engines
Others
Global Stirling Engines Market, By End User
Residential
Commercial
Utility
Global Stirling Engines market, Regional Analysis
The market CAGR for stirling engines is increasing because of the growing demand for low-emissions alternatives to conventional engines. The low-temperature difference that Stirling engines have and no other heat engine has is a major contributor to their high market value. Pollutant emissions and greenhouse gas emissions from conventional internal combustion engines are hazardous to human health and the environment. Research, development, and demonstration of alternatives to IC engines are under underway. The Stirling engine is a greener alternative to internal combustion engines. Although stirling engines were invented over 200 years ago, technological constraints prevented them from entering widespread commercial use. Concentrated solar electricity is more efficient when powered by a Stirling engine that is driven by the temperature gradient of the sun, which may work with a modest temperature gradient. According to the Statistical Review of Energy 2022, solar energy capacity rose by 226 GW in 2021, coming close to surpassing the record rise of 236 GW in 2020. The total amount of solar energy generated is expected to rise from 2020's 846.2 TWH to 2021's projected 1033 TWH. This demonstrates how consumer demand for low-emission alternatives and renewable energy sources will drive growth in the sterling engine market.
As oil prices rise, the demand for Stirling engines is expected to rise as well. World Bank Commodities Price Data 2023 shows that the price of petroleum rose dramatically from $41.3 per barrel in 2020 to $97.1 per barrel in 2022 due to several factors, including peak oil, climate change, and rising costs of conventional fuels. During the assessment period, these factors are predicted to raise demand for Stirling engines. The International Energy Agency predicts that in 2021, the average price of a barrel of oil would rise to $70.91, making it the second highest level since 2015. Energy costs will skyrocket in 2021. The price of a barrel of oil, as measured by either Brent or West Texas Intermediate, grew by more than 70% between 2020 and 2021, reaching roughly $70 at year's end. The increase in cost will prompt a shift by engine makers away from fossil fuels and towards renewable energy sources, accelerating the growth of the market for sterling engines. Because of this, sales of Stirling Engines are increasing.
The growth of the Stirling Engines market is being fueled by the efforts of major players in the market to invest heavily in research and development in order to expand their product lines. New product launches, contracts, mergers, acquisitions, increased investment, and partnerships are all examples of significant market changes. There are a variety of strategic moves being made by market participants. If the Stirling Engines company is to succeed in today's more cutthroat market, it must continue to offer competitively priced products.
Numerous nations have passed laws and regulations in line with the UN's sustainable development goals because of their significance. Greenhouse gases and air pollution released by traditional internal combustion engines are harmful to both the environment and human health. There are currently research, development, and demonstration efforts underway for alternatives to traditional IC engines. A Stirling engine offers a greener alternative to internal combustion engines. Although Stirling engines were invented over 200 years ago, technological limitations prevented them from entering widespread commercial use. The Stirling engine's popularity has grown in recent years as a result of technological developments. The market for Stirling engines can be broken down into various submarkets based on their various configurations. These three arrangements are the most common, but more arrangements are being investigated. The market for Stirling engines can be broken down into several subsets based on its end use, such as HVAC, solar power, marine propulsion, and other applications. Stirling engines find widespread use in marine propulsion and CHP (combined heat and power) systems. Stirling engines' potential application in concentrated solar power facilities is currently being researched. The Stirling engine market is divided into several submarkets based on the end user, which include homes, businesses, utilities, and others.
Report Coverage
Global Stirling Engines research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Stirling Engines report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Stirling Engines competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Stirling Engines market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Qnergy. (U.S.), United Sun Systems, International (Sweden), Sunpower Inc. (U.S.), Genoastirling S.r.l. (Italy), Microgen-Engine Corporation (Netherlands), ÖkoFEN Forschungs, and others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Stirling Engines Market from 2021 to 2030.
- Market Forecast for Stirling Engines Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Stirling Engines competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Stirling Engines
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Stirling Engines market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Stirling Engines market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Qnergy. (U.S.), United Sun Systems, International (Sweden), Sunpower Inc. (U.S.), Genoastirling S.r.l. (Italy), Microgen-Engine Corporation (Netherlands), ÖkoFEN Forschungs, and others
Primary Target Market
- Market Players of Stirling Engines
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Stirling Engines market based on the below-mentioned segments:
Global Stirling Engines Market, By Type
Alpha
Beta
Gamma
Others
Global Stirling Engines market, By Application
Heating and Cooling
Solar Power Generation
Marine Engines
Others
Global Stirling Engines Market, By End User
Residential
Commercial
Utility
Global Stirling Engines market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive stirling engines market market research and competitor analysis for your business to help you develop more profound insights into the stirling engines market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the stirling engines market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.