The internal combustion engine, the most common engine used in commercial and consumer vehicles, is a study in contrasts when it comes to environmental considerations. On the one hand, there is pressure to discontinue or reduce the use of these gas-powered engines because of CO2 emissions.
On the other hand, there are no better-performing means of power generation for vehicles than gas engines. This has created a dilemma pitting intangible environmental impacts against ease-of-use, low cost and superior performance expectations of consumers and commercial users.
The answer to this dilemma in the electric vehicle market is a hybrid. Rather than reducing the value and volume of internal combustion engines, electric hybrid vehicles are stimulating demand, granting new life to gas engines that are more compliant with environmental requirements.
The nascent drone market is also developing to expand gas engine use for quadcopter peers and hybrid drones that can operate with greater utility. These markets are driving new opportunity for all gas engine manufacturers, many of whom are also vehicle producers.
The gas-powered engine market for electric vehicles and drones was worth REDACTED in 2017, and it is expected to grow to REDACTED in 2018 and then to REDACTED in 2023 at a compound annual growth rate (CAGR) of REDACTED from 2018 through 2023.
North America is the leading adopter of this compromise between electric motors and gas engines, largely due to the high expectation of performance and economy of U.S. consumers and commercial users. The region invested REDACTED in gas and electric vehicle drones 2017, and it is expected to invest REDACTED in 2018 and then REDACTED in 2023 at a CAGR of REDACTED.
Full Report: Gas Engines for Drones and Electric Vehicles
Rest of World markets are even less likely to adopt gas engines for electric vehicles or gas-powered drones. The total market value was REDACTED in 2017, growing to REDACTED in 2018 and then to REDACTED in 2023 at a CAGR of REDACTED.
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