North America Engines Market

North America Engines Market by Type (Power Generation - Emergency & Standby, Prime Power, Peak Shaving & Marine - Recreational, Commercial), Power Rating (0-60 HP,61-100 HP,101-300 HP,301-500 HP,501-700 HP, above 700 HP), Country - Forecast to 2023

Report Code: EP 6936 Feb, 2019, by marketsandmarkets.com

[102 Pages Report] The global North America engines market is projected to reach USD 3.7 billion by 2023, at a CAGR of 4.52% from an estimated USD 2.9 billion in 2018. This growth can be attributed to the demand for reliable and uninterrupted power supply and commercial vessels. The rise in demand for commercial vessels is due to the increase in seaborne trade.

North America Engines Market

On the basis of type, the power generation segment is expected to be the largest contributor to the North America engines market during the forecast period

The report segments the North America engines market, by type, into power generation and marine. The power generation segment is expected to hold the largest market share by 2023. Engines used during peak hours are known as peak loads, engine units used for long hours with variable loads are known as prime loads, and the engines used for a shorter duration during power outages are known as standby engines. Prime or continuous power engines are mainly used in oil & gas, marine, and mining operations located at remote places with no grid supply.

On the basis of power rating, the above 700 HP segment is expected to be the largest contributor during the forecast period

The North America engines market, by power rating, is segmented into 0–60 HP, 60–100 HP, 101–300 HP, 301–500 HP, 501–700 HP, and above 700 HP. The above 700 HP segment is expected to dominate the North America engines market by 2023. The engines in this segment are used for power generation and marine propulsion. The major players in this segment include Caterpillar, Cummins, Rolls-Royce, Wδrtsilδ, John Deere, and others. The need for reliable and uninterrupted power is driving the North America engines market. The above 700 HP segment engines are mainly used for prime & continuous power application by a wide range of end-users located in remote locations.

North America Engines Market

The US is expected to hold the largest market size in the North America engines market during the forecast period

In this report, the North America engines market has been analyzed with respect to countries, namely, the US and Canada. The US is estimated to be the largest North America engines market from 2018 to 2023. In the US, the electric grid is a complex system connecting several power plants. When the balance of such systems is disturbed, system failures or blackouts can occur. Moreover, aging coal-fired power plants, drop in natural gas prices, and emissions reduction are the key drivers for the gas engines in the region. Major engines players that operate in the region include Caterpillar (US), Cummins (US), John Deere (US), Rolls-Royce (UK), Volvo (Sweden), Wartsila (Finland), Kohler (US), Mitsubishi (Japan), Doosan (South Korea), and MAN (Germany).

Recent Developments

  • In November 2018, Rolls-Royce launched the B36:45 gas engine series for power generation. The engine is deemed as a medium speed engine, and it will offer 600 kW per cylinder in a compact manner.
  • In November 2018, Volvo Penta was awarded a contract from the US Coast Guard to provide Rigid-Hull Inflatable Boats (RIBs) for a top speed of 35+ knots, with an operating range of 200 nautical miles. This would increase the marine sales of the company in the North American market.
  • In January 2018, Wδrtsilδ delivered a 22.7 MW Smart Power Generation plant under a full Engineering, Procurement & Construction (EPC) contract to Cooperative Energy, a member-owned electric cooperative based in Hattiesburg, Mississippi. The project will consist of 2 gas-fired Wδrtsilδ 31SG engines. The plant located in Benndale, Mississippi, will provide valuable grid support for renewable integration for the Cooperative Energy system as well as reliability during potential transmission outages caused by hurricanes or other severe weather conditions. The order with Wδrtsilδ was booked in December 2017.
  • In June 2018, Kohler expanded its existing Command PRO horizontal-shaft engine product line. The engines are available in power ratings ranging between 4.5 and 14 HP. These engines help run professional tools such as mortar mixers, power trowels, pressure washers, generators, and welders.
  • In July 2017, Volvo Penta acquired majority stakes in Seven Marine, which is an innovative outboard motor manufacturer. The acquisition would strengthen the company’s footprint in the US marine engine market.

Key questions addressed by the report

  • The report identifies and addresses key markets for North America engines, which would help manufacturers review the growth in demand.
  • The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors well and make better strategic decisions.
  • The report addresses the market share analysis of key players in the North America engines market and with the help of this, companies can enhance their revenues in the respective market.
  • The report provides insights into emerging geographies for North America engines and hence the entire market ecosystem can gain competitive advantage from such insights.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst


Table of Contents

1 Introduction (Page No. - 11)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology Scope (Page No. - 14)
    2.1 Market Size Estimation
           2.1.1 Ideal Demand-Side Analysis
                    2.1.1.1 Assumptions
           2.1.2 Supply-Side Analysis
                    2.1.2.1 Assumptions
                    2.1.2.2 Calculation
           2.1.3 Forecast
    2.2 Statistics
           2.2.1 Power Generation
           2.2.2 Marine
    2.3 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 19)

4 Premium Insights (Page No. - 22)
    4.1 Attractive Opportunities in the North America Engines Market During the Forecast Period
    4.2 North America Engines Market, By Type & Power Rating
    4.3 North America Engines Market, By Type
    4.4 North America Engines Market, By Power Rating

5 Market Overview (Page No. - 25)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Need for Reliable and Uninterrupted Power
                    5.2.1.2 Rise in Demand for Commercial Vessels Due to Increase in Seaborne Trade
           5.2.2 Restraints
                    5.2.2.1 High Maintenance and Operating Cost
           5.2.3 Opportunities
                    5.2.3.1 Rise in Demand for Hybrid Fuel Engines
           5.2.4 Challenges
                    5.2.4.1 Remanufactured Or Low-Cost Engines

6 North America Engines Market, By Type (Page No. - 28)
    6.1 Power Generation
    6.2 Marine

7 North America Engines Market, By Power Rating (Page No. - 34)
    7.1 Introduction
    7.2 0–60 HP
    7.3 60–100 HP
    7.4 101–300 HP
    7.5 301–500 HP
    7.6 501–700 HP
    7.7 Above 700 HP

8 North America Engines Market, By Country (Page No. - 41)
    8.1 US
    8.2 Canada

9 Company Benchmarking (Page No. - 51)
    9.1 Cummins
           9.1.1 Business Overview
           9.1.2 Products Offered
           9.1.3 Recent Developments
           9.1.4 MnM View
    9.2 Caterpillar
           9.2.1 Business Overview
           9.2.2 Products Offered
           9.2.3 Recent Developments
           9.2.4 MnM View
    9.3 Rolls-Royce
           9.3.1 Business Overview
           9.3.2 Products Offered
           9.3.3 Recent Developments
           9.3.4 MnM View
    9.4 Wartsila
           9.4.1 Business Overview
           9.4.2 Products Offered
           9.4.3 Recent Developments
           9.4.4 MnM View
    9.5 John Deere
           9.5.1 Business Overview
           9.5.2 Products Offered
           9.5.3 Recent Developments
           9.5.4 MnM View
    9.6 Kohler
           9.6.1 Business Overview
           9.6.2 Products Offered
           9.6.3 Recent Developments
           9.6.4 MnM View
    9.7 Yanmar Holdings
           9.7.1 Business Overview
           9.7.2 Products Offered
           9.7.3 Recent Developments
           9.7.4 MnM View
    9.8 Mitsubishi Heavy Industries
           9.8.1 Business Overview
           9.8.2 Products Offered
           9.8.3 Recent Developments
           9.8.4 MnM View
    9.9 Volvo Group
           9.9.1 Business Overview
           9.9.2 Products Offered
           9.9.3 Recent Developments
           9.9.4 MnM View
    9.10 Doosan Corporation
           9.10.1 Business Overview
           9.10.2 Products Offered
           9.10.3 1.4.3 Recent Developments
           9.10.4 MnM View
    9.11 MAN SE
           9.11.1 Business Overview
           9.11.2 Products Offered
           9.11.3 Recent Developments
           9.11.4 MnM View
    9.12 DEUTZ AG
           9.12.1 Business Overview
           9.12.2 Products Offered
           9.12.3 Recent Developments
           9.12.4 MnM View

10 Competitive Landscape (Page No. - 89)
     10.1 Overview
     10.2 Ranking of Players and Industry Concentration, 2017
     10.3 Vendor Dive, 2017
     10.4 Competitive Scenario
             10.4.1 New Product Launches
             10.4.2 Contracts & Agreements
             10.4.3 Investments and Expansions
             10.4.4 Mergers & Acquisitions
             10.4.5 Others

11 Appendix (Page No. - 96)
     11.1 Insights of Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (50 Tables)

Table 1 North America Engines Market Snapshot
Table 2 North America Engines Market Size, By Type, 2016–2023 (Units)
Table 3 North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 4 North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 5 North America Engines Market Size, By Type, 2016–2023 (Units)
Table 6 US: North America Engine Market Size, Power Generation By Type, 2016–2023 (Units)
Table 7 Canada: North America Engine Market Size, Power Generation - By Type, 2016–2023 (Units)
Table 8 US: North America Engines Market Size, Power Generation - By Type, 2016–2023 (USD Million)
Table 9 Canada: North America Engine Market Size, Power Generation - By Type, 2016–2023 (USD Million)
Table 10 North America Engine Market Size, By Type, 2016–2023 (Units)
Table 11 North America Engine Market Size, By Type, 2016–2023 (USD Million)
Table 12 US: North America Engine Market Size, By Type, 2016–2023 (USD Million)
Table 13 Canada: North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 14 US: North America Engines Market Size, By Type, 2016–2023 (Units)
Table 15 Canada: North America Engine Market Size, By Type, 2016–2023 (Units)
Table 16 North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 17 North America Engine Market Size, By Power Rating, 2016–2023 (USD Million)
Table 18 0–60 HP: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 19 0–60 HP: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 20 60–100 HP: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 21 60–100 HP: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 22 101–300 HP: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 23 101–300 HP: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 24 301–500 HP: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 25 301–500 HP: North America Engine Market, By Country, 2016–2023 (USD Million)
Table 26 501–700 HP: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 27 501–700 HP: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 28 Above 700 HP: North America Engine Market, By Country, 2016–2023 (Units)
Table 29 Above 700 HP: North America Engine Market, By Country, 2016–2023 (USD Million)
Table 30 North America Engines Market Size, By Country, 2016–2023 (Units)
Table 31 North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 32 Power Generation: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 33 Power Generation: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 34 Marine: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 35 Marine: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 36 Emergency & Standby: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 37 Emergency & Standby: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 38 Prime Power: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 39 Prime Power: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 40 Peak Shaving: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 41 Peak Shaving: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 42 Recreational: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 43 Recreational: North America Engine Market Size, By Country, 2016–2023 (USD Million)
Table 44 Commercial: North America Engine Market Size, By Country, 2016–2023 (Units)
Table 45 Commercial: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 46 US: North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 47 US: North America Engine Market Size, By Power Rating, 2016–2023 (USD Million)
Table 48 Canada: North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 49 Canada: North America Engine Market Size, By Power Rating, 2016–2023 (USD Million)
Table 50 Caterpillar Was the Most Active Player in the Market Between 2016 and 2019


List of Figures (23 Figures)

Figure 1 Engine Production in Key End-User Industries is the Major Determining Factor for North America Engines Market
Figure 2 Power Generation Segment is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 3 0–60 HP Segment is Expected to Lead the North America Engines Market During the Forecast Period
Figure 4 Top Market Developments (2015–2018)
Figure 5 Need for Reliable and Uninterrupted Power Drives the North America Engines Market
Figure 6 Power Generation Segment and the Us Dominated the North America Engines Market
Figure 7 Power Generation Segment is Expected to Dominate the North America Engines Market During the Forecast Period
Figure 8 0–60 HP Segment Dominated the North America Engines Market, By Power Rating, in 2017
Figure 9 North America Engines Market: Drivers, Restraints, Opportunities, and Challenges
Figure 10 Cummins: Company Snapshot
Figure 11 Caterpillar: Company Snapshot
Figure 12 Rolls-Royce: Company Snapshot
Figure 13 Wartsila: Company Snapshot
Figure 14 John Deere: Company Snapshot
Figure 15 Yanmar Holdings: Company Snapshot
Figure 16 Mitsubishi Heavy Industries: Company Snapshot
Figure 17 Volvo Group: Company Snapshot
Figure 18 Doosan Corporation: Company Snapshot
Figure 19 MAN SE: Company Snapshot
Figure 20 DEUTZ AG: Company Snapshot
Figure 21 Key Developments in North Amerca Engines Market, 2016–2019
Figure 22 Caterpillar Led North America Engines Market in 2018
Figure 23 Microqaudrant

The study involved 4 major activities in estimating the current size of the North America engines market. Extensive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The North America engines market comprises several stakeholders such as energy utilities, government and industry associations, institutional investors, power and energy associations, and diesel engine manufacturing companies, gensets companies, temporary power solution providers, marine engine manufacturers in the supply chain. The demand side of this market is characterized by the development of the grid networks, increasing renewables industry, and growth in power demand. The supply side is characterized by new product launches and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

North America Engines Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the North America engines market. These methods were also used extensively to estimate the size of the various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of volume and value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying the various factors and trends from both the demand and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Objectives of the Study

  • To define and segment the North America engines market with respect to type,  power rating, and country
  • To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the North America engines market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
  • To forecast the growth of the engines market with respect to North America
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments such as new product developments, mergers & acquisitions, expansions & investments, partnership & collaboration, and contracts & agreements in the North America engines market

Scope of the Report

Report Metric

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value (USD Million), Volume (Units)

Segments covered

Type, Power Rating,  and Country

Geographies covered

North America

Companies covered

Cummins (US), Caterpillar, Rolls-Royce (UK), Wδrtsilδ (Finland), John Deere (US), Kohler (US), Yanmar (Japan) , Mitsubishi Heavy Industries (Japan), Volvo Group (Sweden), Doosan Corporation (South Korea), MAN SE (Germany), and Deutz AG (Germany).

 

This research report categorizes the North America engines market based on type, power rating, and region.

On the basis of type, the North America engines market has been segmented as follows:

  • Power Generation (Emergency & Standby, Prime Power, Peak Shaving)
  • Marine  (Recreational and Commercial)

On the basis of power rating, the North America engines market has been segmented as follows for both power generation & marine engines:

  • 0–60 HP
  • 61–100 HP
  • 101–300 HP
  • 301–500 HP
  • 501–700 HP
  • Above 700 HP

On the basis of country, the North America engines market has been segmented as follows:

  • US
  • Canada

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

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Report Code
EP 6936
Published ON
Feb, 2019
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