Global Industrial Engines Market is valued approximately at USD XX million in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027. Industrial engine is referred to as a stand-alone "power unit" that can be used in a variety of applications such as mechanical drive systems, conveyors or rock crushing equipment. An uptick in the production of vehicles across the world will accelerate the growth of the global industrial engines market over the coming years. With public transport and logistics network capacities being ramped up in both developed and developing countries, albeit in varying degrees, the global diesel engines market is projected to post steady year-on-year growth from 2016 through 2024. From the standpoint of value gains, the increasing degree of sophistication in diesel engines to comply with stricter emissions norms will augur well for the global diesel engines market. Diesel engines are employed in passenger vehicles, heavy vehicles, and in vehicles meant for commercial use. Increased demand for energy, with lower prices for natural gas, is projected to boost the market for gas engines throughout the forecast era which in turn increases the market share of industrial engines. Through growing urbanization and globalization, the working community and environment have shifted, increasingly growing the usage of energy. Households, retail and construction firms and hybrid cars are major users of energy. As energy production is one of the main uses of gas engines, rising electricity demand is expected to boost the need for gas engines in the coming years. Various manufacturers are focusing on product launch to increase the customer base and to expand the geographical outreach for instance, in November 2017, Siemens launched introduced the SGT-A45 TR, a mobile 44-MW aeroderivative gas turbine designed for the fast power market. Moreover, in March 2017, Siemens has launched its new gas engine E-series with a power output of two megawatts (MW). It includes both the SGE-86EM for the 50-Hz market and the SGE-100EM for the 60-Hz market.
The regional analysis of global Industrial Engines market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to register major market share owing to the rising Agriculture, Construction, Power Generation, etc. industries in the region.
Major market player included in this report are:
Yanmar Co., Ltd.
Deere & Company
Weichai Power Co., Ltd
China Yuchai International Limited
Isuzu Motors Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Fuel Type:
Oil & Gas
Rail & Transportation
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Industrial Engines Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers