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Industrial Engine Market Trends

  • Report ID: GMI11031
  • Published Date: Aug 2024
  • Report Format: PDF

Industrial Engine Market Trends

In response to stricter global emission standards and environmental regulations, there is a growing need for industrial engines that are cleaner and more efficient. Moreover, with global emission standards tightening and environmental regulations becoming more stringent, the demand is shifting towards cleaner and more efficient industrial engines. The International Energy Agency (IEA) reports that global energy-related CO2 emissions must decline by 40% by 2030 to meet climate goals, underscoring the need for cleaner technologies. Notably, there's a promising avenue in developing engines that run on alternative fuels like biofuels, hydrogen, and natural gas offering both reduced emissions and enhanced environmental credentials.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of industrial engine was reached USD 125.1 billion in 2023 and is anticipated to record a 4.5% CAGR from 2024 to 2032, driven by industrialization and advancements in technology.

The diesel segment of industrial engine market was valued at USD 70.9 Billion in 2023 and is expected to reach USD 91.3 billion by 2032, owing to its robustness, dependability, and high torque.

Asia Pacific industrial engine market held a share of around 42% in 2023 and is predicted to grow at over 5.8% during 2024 to 2032, driven by a surge in industrial activities.

Caterpillar, Cummins Inc, Deere & Company, Detroit Diesel Corporation, HDHyundai Heavy Industries Engine & Machinery, Honda Motor Co., Inc, Jeemar Power Co.,Ltd among others.

Industrial Engine Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 300
  • Countries covered: 22
  • Pages: 140
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