About Industrial Engines
Industrial engine is refer as a freestanding “power unit” which can be used in a variety of applications. Typical uses of the engine might include mechanical drive systems, such as conveyors or rock crushing equipment. Even the irrigation pump drive is also an industrial engine application, as it is a hydraulic power unit. Many of the industrial engines but not all have variable speed capability. Industrial Engines are been applied on the equipment, which is used in industries like Agriculture, Construction, Power Generation, etc. These engines generally have the high power than the engines used in vehicles
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Industrial Engines market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Industrial Engines Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Engines market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar (United States), Yanmar (Japan), John Deere (United States), Weichai (China), Cummins (United States), DEUTZ (Germany), Yuchai (Singapore), Kubota (Japan), Isuzu (Japan), Kohler Power (United States) and FTP Industrial (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Volvo Penta (Sweden), MAN (Germany), Toyota Industries (Japan) and Power Solutions International (PSI) (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Engines market by Type (Diesel Engines and Gasoline Engines), Application (Agriculture, Construction, Power Generation, Mining Industry, Oil & Gas, Rail & Transportation and Others) and Region.
On the basis of geography, the market of Industrial Engines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Diesel Engine, the sub-segment i.e. Vertical Water-cooled Diesel Engines will boost the Industrial Engines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Improved pricing with blockchain capabilities, 3D Printing is changing the face of industries and Big data’s increasing role in the overall industry
Market Growth Drivers:
Increased rowing urbanisation and industrialisation in regions of Asia Pacific and the Middle East and Innovations and prototypes from major industrialist & OEMs, coupled with consumer preference for high performance and efficient engines
Challenges:
Economic crisis associated with the industrial engine sector
Restraints:
High costs associated with the industrial engines and Long duration requirement for R&D of new concepts
Opportunities:
Growing industrialisation in developing countries and Due to technological developments, it has led to several innovations
Market Leaders and their expansionary development strategies
Caterpillar Inc. has been named to the 2018 Dow Jones Sustainability Indices (DJSI), including both the World and North America indices. This marks the 19th time Caterpillar has been included in the DJSI
Key Target Audience
Engine manufacturers, Industries like automobile, mining, construction and others, Engine providers, Research institutions, Research and consulting firms, E-commerce Companies and Traders, Importers and Exporters
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.