PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250727
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250727
High Speed Engine Market Forecasts to 2028 - Global Analysis By Power Output, Speed, End User and By Geography
According to Stratistics MRC, the Global High Speed Engine Market is accounted for $39.76 billion in 2022 and is expected to reach $60.34 billion by 2028 growing at a CAGR of 7.2% during the forecast period. High speed engines have numerous uses in the maritime, power generating, and other industries. They are primarily seen in small craft like fishing boats, high-speed ferries, and tugs. The rated power of these engines is between 900 and 1800 revolutions per minute.
According to the EIA's International Energy Outlook 2019 projects that by 2040, the world's energy demand will increase by 2.11% annually. The majority of the increase is anticipated to take place in non-OECD nations like China and India.
Market Dynamics:
Driver:
Rising Trend of Distributed Power Generation
Power generation high-speed engines will grow more quickly if the transmission as well as distribution networks that connect supply and demand are expanded. Greater network capacity, adaptability, and economics will be the result of this system growth and technological advancements. Due to their better efficiency and consistent generation capacity, high-speed engines outperform traditional dispersed energy production techniques for on-site production and backup power requirements. Hence, manufacturers of high-speed engines can look forward to lucrative opportunities as a result of the advancement in distributed energy production.
Restraint:
Stringent Regulations on Environment by Government
Governments around the world are establishing legislation to tackle the expanding pollution because of the growing environmental impact of automobiles. Such environmental impact-based regulations may ultimately prevent commercial growth. Following the US Clean Air Act, USEPA has set regulations to reduce air pollutants from stationary and mobile sources. Sales of high-speed engines could decrease as a result of the regulations set forth by the legislation to avoid air pollution. The traditional speed engine industry may be impacted directly or indirectly by the government's investments in electric vehicles and numerous initiatives to promote them.
Opportunity:
Rising Demand for Backup Power Generation
Global need for dependable power supply is increasing quickly, as is the market for nonstop power delivery. The need for backup power generation to keep the lights on during blackouts grows along with the demand for uninterrupted power. Any country's ability to access energy is essential to its development. Power surges or outages as a result of reliability issues are the result. Voltage fluctuations and power outages are more frequent in developed and developing regions. The demand for reliable, continuous electricity and power regeneration will cause the market for high-speed engine to grow.
Threat:
High operation cost & maintenance
For the best and most efficient operation of the machinery incorporating these engines, preventive maintenance is required when using these engines. These engines use diesel fuel, which is more expensive than other fuels. This engine consumes a lot of diesel because it runs for such a long time, which raises the price. The machinery needs routine servicing, including lubrication, fueling, and cooling of the engine system. This raises the price and can limit market expansion during the projection period.
Covid-19 Impact
The immediate impact of high-speed engines now being developed or under contract may be felt most strongly throughout the supply chain. Industry leaders expect procurement and construction delays, to be the result of worker illness or the shutdown of specific industries to block the corona virus's spread. China, the Asia-Pacific area, the United States, as well as some parts of Europe all contribute significantly to the development of high-speed engines. Interruptions in the production process in both China and the US could lead to a significant short-term decline within market for high-speed engines.
The 1-2 MW segment is expected to be the largest during the forecast period
The 1-2 MW segment is estimated to have a lucrative growth, due to the rise in the utilization of these engines in the power generation sector. There is a growing demand from marine industries for boats with this power output range as more people use ferries. There is a growing demand for water sports in many parts of the world. For the anticipated timeframe, this fuels sector expansion in the 1-2 MW power output range.
The Power Generation segment is expected to have the highest CAGR during the forecast period
The Power Generation segment is anticipated to witness the fastest CAGR growth during the forecast period, due to demand for reliable, uninterrupted electricity is rising in both industrialised and developing nations. In the sector that generates electricity, these factors make power backup more necessary. Accelerated urbanisation and industrialisation are further factors contributing to the increased requirement for power backup. This encourages market growth in the field of electricity generation.
Region with highest share:
North America is projected to hold the largest market share during the forecast period. One of the major markets in North America for high-speed engines is the US. It is also the world's biggest market for high-speed engines. Massive breakdowns and power outages may be more likely as North America's electric infrastructure matures. In light of recent widespread failures in a number of states, including Texas, higher backup power system costs are projected.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to need for a continuous supply of electricity has suddenly increased in the area, and the power sector. Power backup is required since power failures and blackouts are common in poor countries. The marine industry is expanding in countries like South Korea, Japan, and China, which hastens the use of such engines. There is a big chance for expansion and enhancement again for Asia-Pacific high-speed engine market in the coming years thanks to the taxpayer-funded "Make in India" initiative. India, China, and Japan are home to some of the largest automakers in the world.
Key Players in the market
Some of the key players profiled in the High Speed Engine Market include Rolls Royce, Cummins Inc., Wartsila, Doosan Infracore, Mitsubishi Heavy Industries Engine & Turbochargers, Yanmar Holdings, Caterpillar, Weichai Power, Volvo Penta, Man SE, Honda Motor Co., Kohler Co., Kirloskar Oil Engines, Hyundai Heavy Industries and John Deere
Key Developments:
In January 2022, Caterpillar launched a range of drop-in engines. The new Cat C2.8 and C3.6 industrial power units (IPU) feature highly integrated designs that save time on engineering and installation. The engines are offered in ratings ranging up to 55 kW (74 hp) at 2400 rpm for the C2.8 and up to 100 kW (134 hp) at 2200 rpm for the C3.6.
In October 2021, Cummins Inc. announced that the US Army had awarded them a USD 87 million contract to finish developing the high-level battle motor, a flexible and unique diesel motor framework.
In November 2020, Rolls Royce said that the company had signed agreements to provide up to 1000 motors and finalized important partnerships. Six additional Chinese companies have also agreed to provide the organization with up to 1000 MTU 2000 and 4000 series motors.
Power Outputs Covered:
- 2-4 MW
- 5-1 MW
- Above 4 MW
- 1-2 MW
- Other Power Outputs
Speeds Covered:
- Above 1800 rpm
- 1000-1500 rpm
- 1500-1800 rpm
- Other Speeds
End Users Covered:
- Mining and Oil & Gas
- Power Generation
- Railway
- Marine
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global High Speed Engine Market, By Power Output
- 5.1 Introduction
- 5.2 2-4 MW
- 5.3 5-1 MW
- 5.4 Above 4 MW
- 5.5 1-2 MW
- 5.6 Other Power Outputs
6 Global High Speed Engine Market, By Speed
- 6.1 Introduction
- 6.2 Above 1800 rpm
- 6.3 1000-1500 rpm
- 6.4 1500-1800 rpm
- 6.5 Other Speeds
7 Global High Speed Engine Market, By End User
- 7.1 Introduction
- 7.2 Mining and Oil & Gas
- 7.3 Power Generation
- 7.4 Railway
- 7.5 Marine
- 7.6 Other End Users
8 Global High Speed Engine Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Rolls Royce
- 10.2 Cummins Inc.
- 10.3 Wartsila
- 10.4 Doosan Infracore
- 10.5 Mitsubishi Heavy Industries Engine & Turbochargers
- 10.6 Yanmar Holdings
- 10.7 Caterpillar
- 10.8 Weichai Power
- 10.9 Volvo Penta
- 10.10 Man SE
- 10.11 Honda Motor Co.
- 10.12 Kohler Co.
- 10.1 Kirloskar Oil Engines
- 10.14 Hyundai Heavy Industries
- 10.15 John Deere
List of Tables
- Table 1 Global High Speed Engine Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 3 Global High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 4 Global High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 5 Global High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 6 Global High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 7 Global High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 8 Global High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 9 Global High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 10 Global High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 11 Global High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 12 Global High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 13 Global High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 14 Global High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 15 Global High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 16 Global High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 17 Global High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 18 Global High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 19 North America High Speed Engine Market Outlook, By Country (2020-2028) ($MN)
- Table 20 North America High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 21 North America High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 22 North America High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 23 North America High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 24 North America High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 25 North America High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 26 North America High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 27 North America High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 28 North America High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 29 North America High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 30 North America High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 31 North America High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 32 North America High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 33 North America High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 34 North America High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 35 North America High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 36 North America High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 37 Europe High Speed Engine Market Outlook, By Country (2020-2028) ($MN)
- Table 38 Europe High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 39 Europe High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 40 Europe High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 41 Europe High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 42 Europe High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 43 Europe High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 44 Europe High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 45 Europe High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 46 Europe High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 47 Europe High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 48 Europe High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 49 Europe High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 50 Europe High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 51 Europe High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 52 Europe High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 53 Europe High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 54 Europe High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 55 Asia Pacific High Speed Engine Market Outlook, By Country (2020-2028) ($MN)
- Table 56 Asia Pacific High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 57 Asia Pacific High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 58 Asia Pacific High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 59 Asia Pacific High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 60 Asia Pacific High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 61 Asia Pacific High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 62 Asia Pacific High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 63 Asia Pacific High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 64 Asia Pacific High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 65 Asia Pacific High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 66 Asia Pacific High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 67 Asia Pacific High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 68 Asia Pacific High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 69 Asia Pacific High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 70 Asia Pacific High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 71 Asia Pacific High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 72 Asia Pacific High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 73 South America High Speed Engine Market Outlook, By Country (2020-2028) ($MN)
- Table 74 South America High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 75 South America High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 76 South America High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 77 South America High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 78 South America High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 79 South America High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 80 South America High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 81 South America High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 82 South America High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 83 South America High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 84 South America High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 85 South America High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 86 South America High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 87 South America High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 88 South America High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 89 South America High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 90 South America High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 91 Middle East & Africa High Speed Engine Market Outlook, By Country (2020-2028) ($MN)
- Table 92 Middle East & Africa High Speed Engine Market Outlook, By Power Output (2020-2028) ($MN)
- Table 93 Middle East & Africa High Speed Engine Market Outlook, By 2-4 MW (2020-2028) ($MN)
- Table 94 Middle East & Africa High Speed Engine Market Outlook, By 5-1 MW (2020-2028) ($MN)
- Table 95 Middle East & Africa High Speed Engine Market Outlook, By Above 4 MW (2020-2028) ($MN)
- Table 96 Middle East & Africa High Speed Engine Market Outlook, By 1-2 MW (2020-2028) ($MN)
- Table 97 Middle East & Africa High Speed Engine Market Outlook, By Other Power Outputs (2020-2028) ($MN)
- Table 98 Middle East & Africa High Speed Engine Market Outlook, By Speed (2020-2028) ($MN)
- Table 99 Middle East & Africa High Speed Engine Market Outlook, By Above 1800 rpm (2020-2028) ($MN)
- Table 100 Middle East & Africa High Speed Engine Market Outlook, By 1000-1500 rpm (2020-2028) ($MN)
- Table 101 Middle East & Africa High Speed Engine Market Outlook, By 1500-1800 rpm (2020-2028) ($MN)
- Table 102 Middle East & Africa High Speed Engine Market Outlook, By Other Speeds (2020-2028) ($MN)
- Table 103 Middle East & Africa High Speed Engine Market Outlook, By End User (2020-2028) ($MN)
- Table 104 Middle East & Africa High Speed Engine Market Outlook, By Mining and Oil & Gas (2020-2028) ($MN)
- Table 105 Middle East & Africa High Speed Engine Market Outlook, By Power Generation (2020-2028) ($MN)
- Table 106 Middle East & Africa High Speed Engine Market Outlook, By Railway (2020-2028) ($MN)
- Table 107 Middle East & Africa High Speed Engine Market Outlook, By Marine (2020-2028) ($MN)
- Table 108 Middle East & Africa High Speed Engine Market Outlook, By Other End Users (2020-2028) ($MN)
