North America Engines Market

North America Engines Market was valued at US$ 2.8 Bn in 2018 and is expected to reach US$ 4.2 Bn by 2026, at a CAGR of 5.2 % during a forecast period.

The increase in demand for commercial vessels is because of the rise in seaborne trade. Rise in number of power outages, growing demand for uninterrupted & reliable power supply for industrial applications, increasing demand for commercial vessels owing to increase in seaborne trade, and high demand from power supply utilities to ensure proper functioning of data centers & IT facilities are expected to drive the North America engines market during the forecast period. This growth can be attributed to the demand for reliable and uninterrupted power supply and commercial vessels. Increase in demand for hybrid fuel engines is an opportunity for the North America Engines Market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

On the basis of type, the power generation segment is expected to grow at the fastest rate during the forecast period. Increasing gas-based generation, distributed power generation, rising number of power outages, and the need for reliable power are some of the major factors driving the growth of the power generation segment.

Based on power rating, above 700 HP segment led the North America Engines Market in 2018 and is estimated to be the largest market throughout the forecast period. The main production growth is projected to come from natural gas units owing to the increase in shale gas production in the US and gas from oil sands in Canada. Growing demand from the offshore and industrial applications in the US and Canada is expected to drive the above 700 HP segment during the forecast period. The above 700 HP segment is projected to experience a slower growth during the forecast period because of investments uncertainties in the oil & gas industry.

Country-wise, The US is expected to be the largest and fastest North America engines market by 2026 and is projected to grow at the highest CAGR. The main production growth is projected to come from natural gas units due to the increase in shale gas production in the US and gas from oil sands in Canada. Emergency generators are the most attractive application owing to numerous events hosted by the nation as well as due to grid maintenance activities. Therefore, increasing focus on construction and event activities would drive the North America engines market.

Recent Developments in North America Engine Market. In July 2017, Volvo Penta acquired widely held stakes in Seven Marine, which is an innovative outboard motor manufacturer. The acquisition would support the company’s footprint in the U.S marine engine market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding North America Engines Market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the North America Engines Market.
Scope of the North America Engines Market

North America Engines Market, By Type

• Power Generation
• Marine
North America Engines Market, By Power Rating

• 0–60 HP
• 60–100 HP
• 101–300 HP
• 301–500 HP
• 501–700 HP
• Above 700 HP
North America Engines Market, By Country

• US
• Canada
Key players operating in North America Engines Market

• Cummins
• Caterpillar
• Rolls-Royce
• Wartsila
• John Deere
• Kohler
• Yanmar Holdings
• Mitsubishi Heavy Industries
• Volvo Group
• Doosan Corporation
• MAN SE
• DEUTZ AG

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