With 2-stroke and 4-stroke technologies showing drastic improvements, the global industrial engine market is bound to take a sorted route in the forecast period. Persistence Market Research has walked through these facts in its latest market study entitled “Industrial Engine Market”.
Industrial Engine Market Dynamics
The global industrial engine market, by the engine, spans 50HP – 500HP industrial engines, 500HP – 10,000HP industries engines, and above 10,000HP industrial engines. By fuel, it’s diesel industrial engines and gasoline industrial engines. By cooling, it’s water-cooled industrial engines and air-cooled industrial engines. By operation, it’s 4-stroke industrial engines and 2-stroke industrial engines.
By end-use industry, it’s industrial engines for power generation, industrial engines for general manufacturing, industrial engines for oil & gas, industrial engines for marine, industrial engines for agriculture or off-road vehicles, industrial engines for construction, and industrial engines for mining & metallurgy. Persistence Market Research has mentioned these happenings with prospects in its latest market study entitled “Industrial Engine Market”.
North America holds the largest market share due to the US being home to top manufacturers of industrial engines. Companies like Caterpillar Inc. are offering improved design in the crankshaft, enhanced durability, reduction in installation techniques, and simplified design. Coming to Europe, Germany dominates the market. It holds 1/10 that of the overall market share by Europe.
The market over here has grown manifold in the last few years due to ongoing developments in marine engines along with heavy-duty diesel engines getting evolved. Germany-based suppliers are known to provide heavy-duty engine components like crankshafts, crankcases, connecting rods, water and oil pumps, camshafts, oil coolers, cylinder liners, compressors/parts, and valve train parts.
Coming to the Asia-Pacific, Japan is known for being a large-scale developer of super-alloys for engine materials and engine components. China is subject to the development of constant speed diesel engines tested over the NRSC and the variable speed engines through NRTC. Persistence Market Research has given these details with insights in its latest market study entitled “Industrial Engine Market”.
Persistence Market Research has profiled the key players in the industrial engine market as Briggs & Stratton, Honda Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., JEEMAR POWER CO., LTD., Chongqing Fuchai Industry Group, Changchai Co., Ltd., and Kohler Co. It has also mentioned the developments on this front.
For instance – Yanmar Group, in February 2021, did inaugurate its very first diesel engine production facility in India at one of the industrial parks developed in the form of a joint venture between Sumitomo Corporation (Japan) and one of the subsidiaries of Mahindra. MAN Energy Solutions, in April 2020, got commissioned by Kawasaki Heavy Industries, Ltd. for supplying two MAN dual-fuel engines to a power plant based in Japan. It is owned as well as operated by OEPC (Okinawa Electric Power Company).
The global industrial engine market is poised to grow on wholesome grounds in the next 10 years – Persistence Market Research