Market Highlights
Stirling Engines Market Size is a fast-growing market with an expected CAGR OF 7.5% during the forecast period.
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.
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Market Research Analysis
North-America region is expected to grow at the fastest rate
The power generation and heating & cooling are the cornerstones of the North-American economy for many years now. The rising prices of conventional resources are continuing to challenge the power generation and heating & cooling sector activities. Despite this, the Stirling engines market is emerging across the North-America region, specifically in the U.S, owing to the higher thermodynamic efficiency and ecological operations of the Sterling engine. In the next 10 years, Stirling engines are expected to be more utilized in power generation and heating & cooling sectors in the North-America region, particularly in the U.S and Canada.
| Report Attribute/Metric | Details |
| CAGR | 7.5% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
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Scope of the Report
This study provides an overview of the global Stirling engines storage market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The scope of the study segments the global Stirling Engines storage market by its type, by application, by end user and by region.
Global Stirling Engines Market, By Type
- Alpha
- Beta
- Gamma
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, By Region
- Europe
- North America
- Asia-Pacific
- Rest of the world
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Key Players
The major players operating in Stirling engine market are Qnergy. (U.S.), United Sun Systems International Ltd (Sweden), Sunpower Inc. (U.S.), Genoastirling S.r.l. (Italy), Microgen Engine Corporation (Netherlands), ÖkoFEN Forschungs- und Entwicklungs Ges.m.b.H. (Austria), Cool Energy, Inc (U.S) and ADI Thermal Power Corp. (U.S).
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