|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 23.5 billion||USD 36.2 billion||5.5%||2022|
Crate Engines Market
The global crate engines market size was worth around USD 23.5 billion in 2022 and is predicted to grow to around USD 36.2 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030. The report analyzes the global crate engines market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the crate engines industry.
A crate engine is a fully assembled and ready-to-install engine that is typically purchased separately from a vehicle. It is known as a "crate" engine because it is often shipped in a wooden crate or box. Crate engines are popular among automotive enthusiasts, performance builders, and individuals looking to replace a worn-out or underpowered engine in their vehicle. Crate engines are designed to offer a convenient and reliable option for engine replacements, performance upgrades, or custom projects. They are usually available in a range of configurations, including different displacements, power outputs, and compatibility with specific vehicle makes and models. Crate engines can be purchased from various manufacturers, specialty shops, and automotive retailers. Crate engines are popular in the automotive aftermarket because they offer a convenient solution for enthusiasts looking to increase the performance of their vehicles. Whether it's for a classic car restoration, a muscle car upgrade, or a custom-built project, crate engines provide a reliable and relatively straightforward option for achieving increased horsepower and torque.
Performance enhancement drives the market growth
One of the primary reasons people opt for crate engines is to enhance the performance of their vehicles. Crate engines offer higher horsepower and torque outputs compared to stock engines, providing a significant boost in acceleration, top speed, and overall driving experience. Enthusiasts who are passionate about performance and want to upgrade their vehicles turn to crate engines as a reliable and convenient solution.
Customization and personalization propel the market expansion
Crate engines allow car builders and enthusiasts to customize their vehicles according to their preferences. With a wide range of crate engine options available, individuals can choose engines with specific displacements, power outputs, and compatibility with their vehicle make and model. This customization aspect appeals to those who want a unique and personalized driving experience, tailored to their specific requirements and performance goals. Therefore, the customization and personalization of crate engines are expected to drive the crate engine market growth during the forecast period.
The high cost of crate engines limits the market growth
Crate engines can be relatively expensive compared to rebuilding or repairing an existing engine. The cost of a crate engine includes not only the engine itself but also additional components and potential installation fees. This higher upfront cost may deter some individuals who are looking for more cost-effective solutions or have budget constraints.
The growing automotive sector is expected to offer a lucrative opportunity for crate engine market growth during the forecast period. For instance, as per European Commission, the automobile sector is critical to the prosperity of Europe. The automobile industry employs 13.8 million Europeans directly and indirectly, accounting for 6.1% of total EU employment. Direct production of motor vehicles employs 2.6 million people, accounting for 8.5% of manufacturing employment in the EU. The EU is one of the world's leading automakers, and the automotive industry is the greatest private investment in research and development (R&D). The European Commission promotes worldwide technology harmonization and R&D financing to boost the competitiveness of the EU automobile sector and maintain its global technological leadership. Thereby, driving the growth of the crate engine industry.
Emission and compliance pose a major challenge
Depending on the region and local regulations, installing a crate engine may pose challenges related to emissions compliance. Crate engines may not always meet the emission standards or requirements set by local authorities. Ensuring that the crate engine is compliant with emissions regulations and obtaining necessary approvals or certifications can be a restraint for some individuals.
The global crate engines industry is segmented based on fuel type, engine type, capacity type, and region.
Based on the fuel type, the global market is bifurcated into gasoline and diesel. The gasoline segment is expected to grow at the highest CAGR during the forecast period. Gasoline crate engines are popular among enthusiasts looking to enhance the performance of their vehicles. These engines offer increased horsepower, torque, and overall power output compared to stock engines. The gasoline segment of crate engines is particularly attractive to individuals seeking improved acceleration, top speed, and overall driving experience. Moreover, gasoline crate engines provide a high level of customization and versatility. They are available in various displacements, power outputs, and configurations to suit different performance goals and vehicle applications. Enthusiasts can choose crate engines with specific cylinder counts (such as four-cylinder, six-cylinder, or eight-cylinder), forced induction (turbocharged or supercharged), and different fuel injection systems to meet their specific requirements. Thereby driving the segment growth over the forecast period.
Based on the engine type, the global crate engines industry is bifurcated into new engines, rebuilt engines, remanufactured engines, and used engines.
Based on the capacity type, the global crate engines market is segmented into 600-1000 CC, 1000-3000 CC, 3000-5000 CC, and >5000 CC.
|Report Attributes||Report Details|
|Report Name||Crate Engines Market Research Report|
|Market Size in 2022||USD 23.5 Billion|
|Market Forecast in 2030||USD 36.2 Billion|
|Growth Rate||CAGR of 5.5%|
|Number of Pages||213|
|Key Companies Covered||Ford Racing, Chevrolet, Blueprint Engines, JEGS High Performance., EDELBROCK, LLC., Jasper Engines & Transmissions, Custom Crate Engines, ATK High Performance Engines, West Coast Engines, HARLEY-DAVIDSON, Yoshimura R&D of America, Inc. and American Honda Motor Co., Inc. among others.|
|Segments Covered||By Fuel Type, By Engine Type, By Capacity Type, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Europe is expected to dominate the market over the forecast period
Europe is expected to dominate the global crate engine market during the forecast period. Several factors contribute to the popularity of crate engines in Europe. Firstly, Europe has a rich automotive culture, with a strong emphasis on performance and customization. Enthusiasts in countries like Germany, the United Kingdom, Italy, and France are particularly interested in upgrading their vehicles with high-performance engines. Additionally, Europe is home to several renowned automotive manufacturers and aftermarket companies that specialize in crate engines. These companies offer a wide range of crate engine options, including different displacements, power outputs, and compatibility with various vehicle makes and models. Some notable European manufacturers include companies like Cosworth, Mountune, and Hartley Engines.
The availability and accessibility of crate engines in Europe have also contributed to their crate engine industry growth. Many automotive retailers, specialty shops, and online platforms cater to the European market, offering a diverse selection of crate engines from both domestic and international manufacturers. This allows customers to easily find and purchase the right crate engine for their specific needs. Moreover, crate engines provide an attractive option for European car enthusiasts due to their convenience and quality. Crate engines are typically built by experienced engine builders or manufacturers who ensure high standards of assembly, testing, and quality control. This level of expertise gives buyers confidence in the performance and reliability of the crate engines they purchase. Thus, this is expected to drive the growth of the market over the forecast period.
The global crate engines market is dominated by players like:
By Fuel Type
By Engine Type
By Capacity Type
A crate engine is a complete engine that is directly delivered on a crate. The crate engine makes upgrading simple by offering a turnkey solution that eliminates the difficulty of rebuilding or building the engine. Crate engines have a wide range of applications that includes motorsports competition, general replacement, and hot rod builds. As compared to custom builds and engine overhauls, crate engines are considered to be a more reliable and economical solution.
The rapidly expanding automotive industry, increase in motorsports racing, and growing demand for rebuilt engines are some of the major factors that are fueling the growth of the global crate engines market. Drag racing, dirt track, and asphalt are some of the popular motorsports competition that has gained immense popularity across the world.
According to the report, the global market size was worth around USD 23.5 billion in 2022 and is predicted to grow to around USD 36.2 billion by 2030.
The global crate engines market is expected to grow at a CAGR of 5.5% during the forecast period.
The global crate engines market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market owing to the growing automobile sector.
The global crate engines market is dominated by players like Ford Racing, Chevrolet, Blueprint Engines, JEGS High Performance., EDELBROCK, LLC., Jasper Engines & Transmissions, Custom Crate Engines, ATK High Performance Engines, West Coast Engines, HARLEY-DAVIDSON, Yoshimura R&D of America, Inc. and American Honda Motor Co., Inc. among others.