Heavy Duty Engines Global Market Report 2023

Description

“Heavy Duty Engines Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on heavy duty engines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for heavy duty engines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The heavy duty engines market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Vehicle Class: Class 7; Class 8

2) By Horsepower: Below 400HP; 400HP - 500HP; 500HP - 600HP; Above 600HP

3) By End-User: Agriculture; Mining; Construction; Transportation and Logistics; Other End Users

Companies Mentioned: Cummins Inc.,; Caterpillar Inc.,; Volvo Trucks Corporation; Hino Motors Ltd.; Mack Trucks Inc.,

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the heavy duty engines market are: Cummins Inc., Caterpillar Inc., Volvo Trucks Corporation, Hino Motors Ltd., Mack Trucks Inc., Perkins, Detroit Diesel Corporation, PACCAR, Isuzu, Komatsu, Kirloskar, John Deere, Ashok Leyland Ltd., and Liebherr.

The global heavy duty engines market grew from $46.94 billion in 2022 to $51.98 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heavy duty engines market is expected to grow to $73.91 billion in 2027 at a CAGR of 9.2%.

The heavy-duty engines market consists of sales of semi-truck engines and heavy duty diesel truck engines. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Heavy-duty engines refer to the engines that are used for heavy-duty vehicles. Heavy-duty vehicles usually have a gross vehicle weight of 10,000 pounds or more, which can be worked only with the help of heavy engines. The heavy-duty engine is used in producing power for heavy engines for many sectors, such as marine, locomotive, and mechanical drive applications and electrical power generation.

Asia-Pacific was the largest region in the heavy duty engine market in 2021. The regions covered in the heavy duty engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of heavy-duty engines are class 7 and class 8 vehicles. The class 7 heavy-duty engines are defined as vehicles designed to carry heavy loads. The class 7 vehicles usually have three or more axles, with a gross vehicle weight rating of between 26,001 pounds and 33,000 pounds. The most commonly used class 7 vehicles are garbage trucks, city transit buses, and street sweepers. The various horsepower include below 400hp, 400hp-500hp, 500hp-600hp, and above 600hp. It is employed by numerous end-users in such areas as agriculture, mining, construction, transportation and logistics, and others.

The growing construction industry is expected to propel the growth of the heavy-duty engine market going forward. Construction refers to the process, art, or manner of building some structure. Construction includes residential buildings, institutional and commercial buildings, and specialized industrial construction. Heavy-duty engines are used for preparing concrete mixes for big construction projects along with carrying big loads that make up the structure. For instance, according to Make in India, an initiative by the Indian government to encourage companies to develop and manufacture products that are made in India, the Indian construction and real estate sector is expected to reach USD 1 trillion by 2030. Also, the construction and real estate sector contribution to India's GDP is expected to reach 13% by 2025. Therefore, the rising construction industry is driving the growth of the heavy-duty engine market.

Technological advancements have emerged as a key trend gaining popularity in the heavy-duty engine market. Major companies operating in the market are: introducing technological innovations to sustain their position in the market. For instance, in February 2021, Clear Flame Engine Technologies, a US-based start-up that manufactures heavy-duty engines, launched its net-zero engine technology. With this technology, heavy-duty truck diesel engines can be operated on 100% renewable plant-based fuels. This technology helps in increasing the machine's capacity and makes it environmentally friendly. It also helps in meeting the efficiency and performance requirements of the customer.

In July 2021, Traton Group, a Germany-based manufacturer of commercial vehicles, acquired Navistar International Corporation for USD3.7 billion. Traton Group aims at providing sustainable transportation offerings through autonomous driving establishments and electric mobility implementations. Navistar International Corporation is a US-based manufacturer of heavy-duty engines such as trucks and diesel engines.

The countries covered in the heavy duty engine market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The heavy-duty engines market research report is one of a series of new reports from The Business Research Company that provides heavy-duty engine market statistics, including heavy-duty engine industry global market size, regional shares, competitors with a heavy-duty engine market share, detailed heavy-duty engine market segments, market trends and opportunities, and any further data you may need to thrive in the heavy-duty engines industry. This heavy-duty engine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product Code: r4158

1. Executive Summary

2. Heavy Duty Engines Market Characteristics

3. Heavy Duty Engines Market Trends And Strategies

4. Heavy Duty Engines Market - Macro Economic Scenario

4.1 COVID-19 Impact On Heavy Duty Engines Market
4.2 Ukraine-Russia War Impact On Heavy Duty Engines Market
4.3 Impact Of High Inflation On Heavy Duty Engines Market

5. Heavy Duty Engines Market Size And Growth

5.1. Global Heavy Duty Engines Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
5.2. Global Heavy Duty Engines Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market

6. Heavy Duty Engines Market Segmentation

6.1. Global Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Class 7
Class 8
6.2. Global Heavy Duty Engines Market, Segmentation By Horsepower, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Below 400HP

400HP - 500HP

500HP - 600HP

Above 600HP

6.3. Global Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Agriculture
Mining
Construction
Transportation and Logistics
Other End Users

7. Heavy Duty Engines Market Regional And Country Analysis

7.1. Global Heavy Duty Engines Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7.2. Global Heavy Duty Engines Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

8. Asia-Pacific Heavy Duty Engines Market

8.1. Asia-Pacific Heavy Duty Engines Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
8.3. Asia-Pacific Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

9. China Heavy Duty Engines Market

9.1. China Heavy Duty Engines Market Overview
9.2. China Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion
9.3. China Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion

10. India Heavy Duty Engines Market

10.1. India Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
10.2. India Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

11. Japan Heavy Duty Engines Market

11.1. Japan Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
11.2. Japan Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

12. Australia Heavy Duty Engines Market

12.1. Australia Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
12.2. Australia Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

13. Indonesia Heavy Duty Engines Market

13.1. Indonesia Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
13.2. Indonesia Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

14. South Korea Heavy Duty Engines Market

14.1. South Korea Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
14.2. South Korea Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

15. Western Europe Heavy Duty Engines Market

15.1. Western Europe Heavy Duty Engines Market Overview
15.2. Western Europe Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
15.3. Western Europe Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

16. UK Heavy Duty Engines Market

16.1. UK Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
16.2. UK Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

17. Germany Heavy Duty Engines Market

17.1. Germany Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
17.2. Germany Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

18. France Heavy Duty Engines Market

18.1. France Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
18.2. France Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

19. Eastern Europe Heavy Duty Engines Market

19.1. Eastern Europe Heavy Duty Engines Market Overview
19.2. Eastern Europe Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
19.3. Eastern Europe Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

20. Russia Heavy Duty Engines Market

20.1. Russia Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
20.2. Russia Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

21. North America Heavy Duty Engines Market

21.1. North America Heavy Duty Engines Market Overview
21.2. North America Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
21.3. North America Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

22. USA Heavy Duty Engines Market

22.1. USA Heavy Duty Engines Market Overview
22.2. USA Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
22.3. USA Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

23. South America Heavy Duty Engines Market

23.1. South America Heavy Duty Engines Market Overview
23.2. South America Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
23.3. South America Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

24. Brazil Heavy Duty Engines Market

24.1. Brazil Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
24.2. Brazil Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

25. Middle East Heavy Duty Engines Market

25.1. Middle East Heavy Duty Engines Market Overview
25.2. Middle East Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
25.3. Middle East Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

26. Africa Heavy Duty Engines Market

26.1. Africa Heavy Duty Engines Market Overview
26.2. Africa Heavy Duty Engines Market, Segmentation By Vehicle Class, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
26.3. Africa Heavy Duty Engines Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

27. Heavy Duty Engines Market Competitive Landscape And Company Profiles

27.1. Heavy Duty Engines Market Competitive Landscape
27.2. Heavy Duty Engines Market Company Profiles
- 27.2.1. Cummins Inc.,
  - 27.2.1.1. Overview
  - 27.2.1.2. Products and Services
  - 27.2.1.3. Strategy
  - 27.2.1.4. Financial Performance
- 27.2.2. Caterpillar Inc.,
  - 27.2.2.1. Overview
  - 27.2.2.2. Products and Services
  - 27.2.2.3. Strategy
  - 27.2.2.4. Financial Performance
- 27.2.3. Volvo Trucks Corporation
  - 27.2.3.1. Overview
  - 27.2.3.2. Products and Services
  - 27.2.3.3. Strategy
  - 27.2.3.4. Financial Performance
- 27.2.4. Hino Motors Ltd.
  - 27.2.4.1. Overview
  - 27.2.4.2. Products and Services
  - 27.2.4.3. Strategy
  - 27.2.4.4. Financial Performance
- 27.2.5. Mack Trucks Inc.,
  - 27.2.5.1. Overview
  - 27.2.5.2. Products and Services
  - 27.2.5.3. Strategy
  - 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Heavy Duty Engines Market

29. Heavy Duty Engines Market Future Outlook and Potential Analysis

30. Appendix

30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. The Business Research Company
30.6. Copyright And Disclaimer