High-Speed Engine Market

High-speed Engine Market worth $29.9 billion by 2028

According to a research report "High-Speed Engine Market by Speed (1000–1500, 1500–1800, Above 1800 rpm), Power Output (0.50–0.56, 0.50–1, 1–2, 2–4, Above 4 MW), End User (Power Generation, Marine, Railway, Mining and Oil & Gas, Construction) & Region - Global Forecast to 2028" published by MarketsandMarkets, the global high-speed engine market is expected to grow at a CAGR of 4.0% between 2022 and 2028 to reach a market size of USD 29.9 billion by 2028, from an estimated USD 23.6 billion in 2022. Rising demand for reliable and uninterrupted power, growth in maritime tourism and international marine freight transport, and increasing urbanization and industrialization are amongst the major drivers of the high-speed engine markets.

Browse 350 market data Tables and 50 Figures spread through 291 Pages and in-depth TOC on "High-Speed Engine Market by Speed (1000–1500, 1500–1800, Above 1800 rpm), Power Output (0.50–0.56, 0.50–1, 1–2, 2–4, Above 4 MW), End User (Power Generation, Marine, Railway, Mining and Oil & Gas, Construction) & Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/high-speed-engine-market-45235297.html

1000–1500 rpm is expected to hold the largest share of the high-speed engine market, by speed

The market for high-speed engines in the 1000–1500 rpm range is expected to be the largest during the forecast period. Power generation and marine end users are the major consumers for high-speed engines in this speed range. In marine, these engines are suitable for propelling workboats, fishing vessels, fast commercial craft, and patrol boats. In power generation, they are primarily utilized for standby power generation as well as prime power generation in large industrial plants. Increased demand from utility-scale projects in developing countries is expected to drive the growth of this segment during the forecast period.

By end user, power generation is expected to be the fastest growing segment of the high-speed engine market during the forecast period

The power generation segment, by end user, is expected to grow at the highest CAGR from 2022 to 2028. The power generated by renewable sources is often intermittent and non-dispatchable. High-speed engines complement the power generated from renewable sources by ensuring the continuity of power supply. solutions in developing economies. The demand for high-speed engines for power generation from industrial companies, IPPs, and utilities is increasing as result, driving the fast growth of the power generation segment.

Asia Pacific is expected to dominate the high-speed engine market

Rising demand for high-speed engines in rapidly growing economies like China and India is expected to drive the high-speed engine market in the region. Moreover, increasing electricity demand due to population rise and industrialization is spurring the growth of the high-speed engine market in the region. The region also has a large and thriving manufacturing sector which is contributing to the demand for high-speed engines.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Cummins (US), Rolls Royce Holdings (UK), Volvo Penta (Sweden), Caterpillar (US), and MAN Energy Solutions (Germany) along with other prominent manufacturers of high-speed engines.

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High-Speed Engine Market Size,  Share & Growth Report
Report Code
EP 7849
PR Published ON
2/20/2023
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