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Heavy Duty Engines Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Class (Class 7 and Class 8), By Horsepower (Less than 400HP, 400HP-600HP, and Above 600HP), By End-User (Agriculture, Transportation & Logistics, Construction, Mining, and Others), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI108041 | Status : Ongoing

 

KEY MARKET INSIGHTS

A heavy-duty engine is an internal combustion engine (ICE) designed to power large, heavy vehicles or equipment. Typical applications for these engines include heavy-duty trucks, buses, construction equipment, and agricultural apparatus. They are designed to be more durable and long-lasting to withstand the demanding conditions of heavy use; they are larger and more powerful than engines found in passenger vehicles.


Increasing demand for commercial vehicles and heavy machinery, particularly in emerging economies, as these are essential for infrastructure development and industrial growth, are growth drivers for heavy-duty engines. However, despite the growth prospects, some factors can also negatively affect the expansion of the heavy-duty engine market. A major obstacle is the high price of heavy-duty engines, which can make them unaffordable to some clients. Moreover, the increasing availability of alternative fuel sources, such as electric vehicles, may eventually reduce the demand for heavy-duty engines.

Impact of COVID-19 on the Heavy-Duty Engines Market


The COVID-19 pandemic has significantly impacted the global heavy-duty engine market. The pandemic caused disruptions in the supply chain, reduced demand for the transportation of goods, and resulted in a decline in sales of heavy-duty engines. During the pandemic, lockdowns were imposed around the globe, which led to a shortage of raw materials and restrictions on the travel of labor. Hence, many production facilities were forced to shut down or work at half capacity. This closure of production facilities and restrictions on movement led to a decline in demand for logistics, resulting in a reduced demand for heavy-duty engines. As construction and mining are labor-intensive industries, restrictions due to COVID-19 negatively affected these industries, resulting in a decline in the demand for heavy-duty engines required.

Key Insights


The report will cover the following key insights:


  • Key Industry Developments – Mergers, Acquisitions, and Partnerships.

  • Porter's Five Forces Analysis.

  • Technological Developments.

  • Impact of COVID-19 on the Heavy-Duty Engines Market.


Regional Analysis


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The global market for heavy-duty engines is segmented into North America, Europe, Asia-Pacific, Rest of the World. The Asia-Pacific region is expected to dominate the heavy-duty engine market during the forecasted period. This growth in this region can be attributed to the presence of numerous developing nations, such as China and India, which are experiencing an increase in demand for heavy-duty engines from various industries, including construction, agriculture, and mining. In addition, increasing investments in infrastructure development will also play a vital role in the market growth in this region.

Due to well-established automotive industries and well-developed transportation systems, North America and Europe will show steady growth in the market. Caterpillar Inc., Cummins Inc., and Navistar International Corporation are three of the most influential companies in the North American heavy-duty engine market.

Latin America is expected to experience substantial growth over the forecast period as the demand for commercial vehicles increases. The Middle East and Africa region is also anticipated to experience significant growth in the heavy-duty engine market, propelled by expanding the construction and mining industries and rising infrastructure investments.

Key Players Covered


The report includes profiles of key players such as Perkins, Daimler AG, Komatsu, Caterpillar, Cummins, Isuzu, Volvo truck, Detroit Diesel, Hino, Kirloskar, PACCAR, Scania AB, Mercedes-Benz, Navistar, and others.

Segmentation


















By Vehicle Class


By Horsepower


By End-user


By Geography



  • Class 7

  • Class 8




  • Less than 400HP

  • 400HP – 600 HP

  • Above 600HP




  • Agriculture

  • Transportation & Logistics

  • Construction

  • Mining

  • Others




  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (India, China, Japan, South Korea, and Rest of APAC)

  • Rest of the World



Key Industry Developments



  • March 2023: Caterpillar announced the development of a new 13-liter diesel engine platform called Cat C13D. This engine is designed to achieve better power density, torque, and fuel efficiency. This engine platform offers eight power ratings from 456HP to 690HP with up to 3,200 Nm of peak torque.

  • August 2020: Cummins and Navistar announced a new long-term agreement. According to this agreement, Cummins is selected as Navistar's preferred supplier of medium-duty and heavy-duty big-bore engines for International Trucks and IC Buses in the U.S. and Canada





  • Ongoing
  • 2023
  • 2019-2022

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