Engines Market Reach $ 31.8 billion by 2023
India Engines Market By Fuel Type, By Application, By Power, Competition Forecast & Opportunities, 2023 engines market stood at $ 20.7 billion in 2017 and is forecast to reach $ 31.8 billion by 2023 on account of growing demand for automobiles in India. The demand for passenger cars is surging in India owing to increasing per capital income and rising urbanization. Moreover, growth in construction and infrastructure industry is further driving demand for engines used in construction equipment. Additionally, various government initiatives and schemes like “Blue Revolution Deep Sea Fishing Scheme”, “Pradhan Mantri Awaas Yojana”, etc., along with rapid industrialization and commercialization of the economy are other major contributors to the growing engines market in India. Furthermore, developmental programs for agriculture and power generation industries such as ‘National Mission on Agricultural Extension and Technology’ and “Saubhagya Scheme” which aims at prov...