Heavy Duty Engines Market - Global Industry Analysis

Heavy Duty Engines Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Heavy Industry Report Format : PDF Report Code: ZMR-6753 Status : Upcoming

Description

Global Heavy Duty Engines Market: Overview

Heavy duty engines are primarily used in heavy vehicles that are designed to carry a high load such as passengers and goods. Heavy duty engines are constructed considering the power requirement of the vehicles, which requires high torque at low speed. Heavy engines are mostly run on diesel that assures high torque compared to petrol engines hence diesel engines are preferred for heavy vehicles. Also, the fuel efficiency and compression ratio of diesel engines are high as compared to the petrol engine as combustion of diesel occurs at a slow rate as compared to petrol owing to its chemical composition. Thus, with reliable power output, heavy-duty engines are used in many vehicles, industrial machinery, ships, etc.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Heavy Duty Engines Market: Growth Factors

The global heavy duty engines market is growing at a lucrative rate. Major factors such as the rapidly growing logistics sector and increase in demand for heavy vehicles by the transportation sector are fueling the growth of the global market. Similarly, a set criterion as per the emission standards for pollutants such as NOx, HC & CO, regulations for fuel economy & greenhouse emission, and growing demand of the market for high performance engines are contributing factors for the market progress. The introduction of innovative diesel engine technologies owing to an increase in demand for reduction of carbon dioxide emission & automotive fuel consumption has led to an increase in preference for heavy-duty engines for heavy vehicles. All such factors are propelling the growth of the market. In addition to this, the increase in the adoption of heavy-duty engines across the mining and construction sector is escalating the global heavy-duty engines market growth. Moreover, the increase in sales of Class 8 vehicles has also led to an increase in sales of heavy-duty engines. Furthermore, an increase in investment by the manufacturers for the development of techniques to enhance the power density of reciprocating engines may create beneficial opportunities for the growth of the global heavy-duty engines market over the forecast period. However, some heavy duty engines may be prone to wet stacking which may hinder the growth of the global market.

The impact of COVID-19 pandemic on the global heavy-duty engines market is severe. Many engine manufacturing sites around the world temporarily halted their production activities due to government restrictions. Also, reduction in labor and low demand from end-use sectors equally contributed to the low revenue generation during the year 2020.

Global Heavy Duty Engines Market: Segmentation

The global heavy-duty engines market is split based on horsepower, vehicle class, end-user, and region. Based on the horsepower, the global heavy-duty engines market is bifurcated into below 400HP, 400 to 500HP, 500 to 600HP, and above 600 HP. Class 7 and Class 8 are classified under the vehicle class segment. Based on the end-user, the global market is categorized into agriculture, mining, construction, transportation & logistics, and others.

Global Heavy Duty Engines Market: Regional Analysis

Asia Pacific is projected to lead the global heavy-duty engines market over the forecast period in terms of revenue. Some of the major factors such as the presence of a large network of manufacturing industries, heavy engine manufacturers, and rapid expansion of construction activities in government as well as in private sectors are flourishing the growth of the market in the Asia Pacific market. China and India are projected to be major revenue contributors in the APAC market. Expanding construction, mining, and heavy machinery industry in China and India are the prime factors contributing to the increasing demand for heavy-duty engines. North America is projected to be the second-largest market for heavy duty engines. North America is one of the major regions investing in heavy machinery in different sectors. Also, the presence of major heavy-duty engine manufacturers in the United States is contributing to the healthy growth of the market. Europe is also set to contribute healthy revenue in the global heavy-duty engines market over the forecast period. Europe is a hub of the automobile industry, also the presence of major engine manufacturers flourishing the local market at a rapid rate.

Global Heavy Duty Engines Market: Competitive Players

The global heavy duty engines market is highly fragmented. Most of the key players are investing in technology upgradation. Along with these joint ventures & mergers for business, expansion is on the rise in the global market. Some of the major players that are operating in the global heavy duty engines market are Cummins, Caterpillar, Volvo Truck, PACCAR, Mercedes-Ben, Mack, Navistar, Hino, and Detroit Diesel.

Global Heavy Duty Engines Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global heavy duty engines market is growing at a lucrative rate. Major factors such as the rapidly growing logistics sector and increase in demand for heavy vehicles by the transportation sector are fueling the growth of the global market. Similarly, a set criterion as per the emission standards for pollutants such as NOx, HC & CO, regulations for fuel economy & greenhouse emission, and growing demand of the market for high performance engines are contributing factors for the market progress.

Some of the major players that are operating in the global heavy duty engines market are Cummins, Caterpillar, Volvo Truck, PACCAR, Mercedes-Ben, Mack, Navistar, Hino, and Detroit Diesel.

Asia Pacific is projected to lead the global heavy-duty engines market over the forecast period in terms of revenue. Some of the major factors such as the presence of a large network of manufacturing industries, heavy engine manufacturers, and rapid expansion of construction activities in government as well as in private sectors are flourishing the growth of the market in the Asia Pacific market.

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