Global Stirling Engines
Market 2019 Industry research report provides an In-Depth analysis that
includes an executive summary, definition, and scope of the market. This report
allows giving a better description of the drivers, restraints, threats, and
opportunities. It also notes down socio-economic factors that are impacting the
trajectory of the Stirling Engines market. Adapting to the recent novel
COVID-19 pandemic, the impact of the COVID-19
on Stirling
Engine Market is included in the present
report.
The Stirling Engines storage market
is expected to grow over the CAGR of around 7.5% during the period 2017 to
2023. Stirling engines are
engines with applications in submarines and yachts. The low noise levels
generated coupled with its high efficiency rate than diesel engines is likely
to expand its scope exponentially.
The Stirling engine is a heat engine that operates by
cyclic compression and expansion of atmospheric air or other gas as a working
fluid at different temperatures, such that there is net conversion of heat
energy into mechanical work. More specifically, the Stirling engine is a
closed-cycle regenerative heat engine with a permanently gaseous working fluid.
The Stirling engine is known for its higher
efficiency than steam engine, its quiet operation, and the ability to use
almost any heat source. The heat energy source is generated externally in the
Stirling engine rather than by internal combustion as in the Otto cycle or
Diesel cycle.
As, the Stirling engine is compatible with
alternative and renewable energy sources, it could become significant, in the
event of a price hike in conventional fuels, or peak oil and climate change.
These factors are also expected to drive the growth of Stirling engines market
during the forecast period. the cost of Stirling engines and the lack of market
exposure & information of Stirling engines are the factors that may
restrain growth of Stirling engines market.
Global
Stirling Engine Market Segmentation
By type, it is segmented into alpha,
beta, gamma, and others. The alpha type engine can accrue high revenue for the
global market till 2023. This can be due to its unique design which has the
capacity to function in reasonable operating conditions. It can be used as a
mini CHP unit in the residential sector with levels of CO2 and NOx being
reduced dramatically.
By application, it is segmented into
marine engines, solar power generation, and heating & cooling. The heating
& cooling segment is likely to generate significant revenue for the
Stirling engine market due to wastage of heat emitted by refrigerators and
other appliances.
By end-user, it is segmented into
utility, commercial, residential, and others. The utility segment is expected
to capitalize on the technology due to its renewable nature.
Top Leaders
Key market players include United Sun
Systems International Ltd, Cool Energy, Inc, Microgen Engine Corporation,
Genoastirling S.r.l., Sunpower Inc., ADI Thermal Power Corp., ÖkoFEN
Forschungs- und Entwicklungs Ges.m.b.H., Qnergy, and others.
Regional
Analysis
Geographically, the Stirling engines
market encompasses North America, Europe, Asia Pacific (APAC), and
Rest-of-the-World (RoW).
The North America region is expected
to dominate till 2023, followed by APAC. The inclination of various players in
the energy sector to invest in renewable technologies is likely to net in high
windfall. Furthermore, the development of micro Stirling engines for heating
and cooling in various climes can bode well for the market in the region.
The European region is deemed to be
profitable for the global Stirling engines market due to the shift to renewable
sources of energy generation. Initiatives and policies encourage sustainable
steps in homes and industries can drive the regional market growth. The
procurement of cogeneration technologies in residential homes in the region is
likely to net the market significant sales.
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