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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

  • ID: 4755740
  • Report
  • Region: North America, United States
  • 107 Pages
  • Markets and Markets
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The 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.

FEATURED COMPANIES

  • Caterpillar
  • Cummins
  • Deutz Ag
  • Doosan
  • John Deere
  • Kohler
  • MORE

The North America engines market is projected to grow at a CAGR of 4.52% from 2018 to 2023.

The 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 can be attributed to an increase in the number of power outages, growing demand for uninterrupted & reliable power supply for industrial applications. The high maintenance and operating costs, stringent emission norms can hinder the growth of the market. The North America engines market is segmented, by type, into power generation (emergency & standby, prime power, peak shaving) and marine engines (recreational, commercial).

301–500 HP segment, by power rating, is expected to be the fastest growing North America engines market during the forecast period.

The 301–500 HP segment is estimated to be the fastest growing segment during the forecast period. The 301–500 HP engines are mainly used by end-users such as data centers, hospitals, commercial complexes, and residential buildings. These end-users deploy diesel power engines for standby and prime power generation. These engines can act as standby operation for minor overhauls and interruption of power in plants, thereby reducing the plant downtime and cost. The demand for gensets in Canada is basically due to large new offshore discoveries off the coasts of Newfoundland and Labrador states. The growth in the industrial applications has driven the demand specifically for the 301–500 HP segment.

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.

Power generation segment, by type, is expected to be the fastest growing North America engines market during the forecast period.

The power generation segment is expected to grow at the fastest rate between 2018 and 2023. Increasing gas-based generation, distributed power generation, increasing number of power outages, and need for reliable power are some of the major factors driving the growth of the power generation segment.  For example, in the US, the power outages increased by 9% in 2016 as compared to 2015 and in Canada, the increase was about 23% in 2016 as compared to 2015. Notable ones are Central California Blackout of 2013, Southwest Blackout of 2011, and Northeast Blackout of 2003. For data centers and IT facilities, there is less dependency on power utilities these days due to power backup facilities. The T&D expenditure in the US is projected to grow from approximately USD 35 billion in 2013 to USD 48 billion by 2020.

US: The fastest growing North America engines market.

The US is expected to be the largest and fastest North America engines market by 2023 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.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects.

The distribution of primary interviews is as follows:

  • By Company Type: Tier 1–60%, Tier 2–25%, and Tier 3–15%
  • By Designation: C-Level–40%, Director Level–35%, and Others–25%
  • By Region: US–60% and Canada–40%

Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million.

The leading players in the North America engines include Cummins (US), Caterpillar (US), Wärtsilä (Finland), Rolls-Royce (UK), Yanmar (Japan), and Mitsubishi Heavy Industries (Japan).

Research Coverage:

The report defines, describes, and forecasts the North America engines market by type, power rating, and country. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of volume and value, and future trends in the North America engines market.

Key Benefits of Buying the Report

The report will provide information on the closest approximations of the revenue numbers for the overall North America engines market and the subsegments to leaders/new entrants in this market. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Caterpillar
  • Cummins
  • Deutz Ag
  • Doosan
  • John Deere
  • Kohler
  • MORE

1. Introduction
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
2.1 Market Size Estimation
2.1.1 Demand-Side Analysis
2.1.2 Assumptions
2.1.3 Supply-Side Analysis
2.1.3.1 Assumptions
2.1.3.2 Calculation
2.1.4 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

4. Premium Insights
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
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
5.2.1.3 Growth in Commercial Infrastructure
5.2.2 Restraints
5.2.2.1 High Maintenance and Operating Cost
5.2.2.2 Availability of Alternate Energy Sources and Growth of Renewable Power
5.2.3 Opportunities
5.2.3.1 Rise in Demand for Hybrid Fuel Engines
5.2.3.2 Increased Exploration Activities in Ultra-Deep Water and Arctic Region
5.2.4 Challenges
5.2.4.1 Remanufactured or Low-Cost Engines
5.2.4.2 Stringent Environmental and Governmental Regulations

6. North America Engines Market, By Type
6.1 Power Generation
6.1.1 New Emission Reforms and Need for Reliable and Uninterrupted Power is Driving Power Generation Engines Market
6.2 Marine
6.2.1 Increased Boat Building Activities in the US and the Increased Seaborne Trade in Canada to Drive Marine Engines Market

7. North America Engines Market, By Power Rating
7.1 Introduction
7.2 0–60 HP
7.2.1 Rise of Commercial and Industrial Sector is Driving the Market
7.3 60–100 HP
7.3.1 Growing Demand From Cogeneration, Auxiliary Power, and Rental Applications is Expected to Drive the Market
7.4 101–300 HP
7.4.1 Growing Demand From Industrial Applications is Driving the Market
7.5 301–500 HP
7.5.1 Major Applications in Inland Waterways, Commercial Fishing, and Passenger Transport Ships is Expectedto Drive the Market
7.6 501–700 HP
7.6.1 Increasing Use in Commercial Ships, Workboats, Large Fishing Boats, Motor Yachts is Expected to Drive the Market
7.7 Above 700 HP
7.7.1 Increasing Use in Heavy Operations in Marine Commercial Shipping and Power Generation to Drive the Market

8. North America Engines Market, By Country
8.1 US
8.1.1 Aging Coal-Fired Power Plants, Drop in Natural Gas Prices, and Emissions Reduction Are the Key Drivers
8.2 Canada
8.2.1 Large New Offshore Discoveries Off the Coasts of Newfoundland and Labrador States to Drive Engines Market

9. Competitive Landscape
9.1 Overview
9.2 Ranking of Players and Industry Concentration, 2017
9.3 Vendor Dive, 2017
9.4 Competitive Scenario
9.4.1 New Product Launches
9.4.2 Contracts & Agreements
9.4.3 Investments and Expansions
9.4.4 Mergers & Acquisitions
9.4.5 Others

10. Company Profile
10.1 Company Benchmarking
(Business Overview, Products Offered, Recent Developments, Mnm View)*
10.2 Cummins
10.3 Caterpillar
10.4 Rolls-Royce
10.5 Wartsila
10.6 John Deere
10.7 Kohler
10.8 Yanmar
10.9 Mitsubishi Heavy Industries
10.10 Volvo Group
10.11 Doosan
10.12 Man Se
10.13 Deutz Ag
*Details On Business Overview, Products Offered, Recent Developments, Mnm View Might Not Be Captured in Case of Unlisted Companies.

11. Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Subscription Portal
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details

List of Tables
Table 1 North America Engines Market Snapshot: By Value
Table 2 North America Engines Market Snapshot: By Volume
Table 3 North America Engines Market Size, By Type, 2016–2023 (Units)
Table 4 North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 5 North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 6 North America Engines Market Size, By Type, 2016–2023 (Units)
Table 7 US: North America Engines Market Size, Power Generation By Type, 2016–2023 (Units)
Table 8 Canada: North America Engines Market Size, Power Generation - By Type, 2016–2023 (Units)
Table 9 US: North America Engines Market Size, Power Generation By Type, 2016–2023 (USD Million)
Table 10 Canada: North America Engines Market Size, Power Generation - By Type, 2016–2023 (USD Million)
Table 11 North America Engines Market Size, By Type, 2016–2023 (Units)
Table 12 North America Engines Market Size, By Type, 2016–2023 (USD Million)
Table 13 Us: North America Engines Market Size, By Type, 20162023 (USD Million)
Table 14 Canada: North America Engines Market Size, By Type, 20162023 (USD Million)
Table 15 US: North America Engines Market Size, By Type, 2016–2023 (Units)
Table 16 Canada: North America Engines Market Size, By Type, 2016–2023 (Units)
Table 17 North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 18 North America Engines Market Size, By Power Rating, 2016–2023 (USD Million)
Table 19 0–60 HP: North America Engines Market Size, By Country, 20162023 (Units)
Table 20 0–60 HP: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 21 60–100 HP: North America Engines Market Size, By Country, 20162023 (Units)
Table 22 60–100 HP: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 23 101–300 HP: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 24 101–300 HP: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 25 301–500 HP: North America Engines Market Size, By Country, 20162023 (Units)
Table 26 301–500 HP: North America Engines Market, By Country, 2016–2023 (USD Million)
Table 27 501–700 HP: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 28 501–700 HP: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 29 Above 700 HP: North America Engines Market, By Country, 20162023 (Units)
Table 30 Above 700 HP: North America Engines Market, By Country, 2016–2023 (USD Million)
Table 31 North America Engines Market Size, By Country, 2016–2023 (Units)
Table 32 North America Engines Market Size, By Country, 20162023 (USD Million)
Table 33 Power Generation: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 34 Power Generation: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 35 Marine: North America Engines Market Size, By Country, 20162023 (Units)
Table 36 Marine: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 37 Emergency & Standby: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 38 Emergency & Standby: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 39 Prime Power: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 40 Prime Power: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 41 Peak Shaving: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 42 Peak Shaving: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 43 Recreational: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 44 Recreational: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 45 Commercial: North America Engines Market Size, By Country, 2016–2023 (Units)
Table 46 Commercial: North America Engines Market Size, By Country, 2016–2023 (USD Million)
Table 47 US: North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 48 US: North America Engines Market Size, By Power Rating, 2016–2023 (USD Million)
Table 49 Canada: North America Engines Market Size, By Power Rating, 2016–2023 (Units)
Table 50 Canada: North America Engines Market Size, By Power Rating, 2016–2023 (USD Million)
Table 51 Caterpillar Was the Most Active Player in the Market Between 2016 and 2019

List of Figures
Figure 1 Engine Installation 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 (By Value)
Figure 3 Power Generation Segment is Expected to Lead the Market During the Forecast Period (By Volume)
Figure 4 Above 700 HP Segment is Expected to Lead the North America Engines Market During the Forecast Period (By Value)
Figure 5 0–60 HP Segment is Expected to Lead the North America Engines Market During the Forecast Period (By Volume)
Figure 6 Need for Reliable and Uninterrupted Power Drives the North America Engines Market
Figure 7 Power Generation Segment and the US Dominated the North America Engines Market (By Value)
Figure 8 Power Generation Segment is Expected to Dominate the North America Engines Market During the Forecast Period (By Value)
Figure 9 Above 700 HP Segment Dominated the North America Engines Market, By Power Rating, in 2017 (By Value)
Figure 10 0-60 HP Segment Dominated the North America Engines Market, By Power Rating, in 2017 (By Volume)
Figure 11 North America Engines Market: Drivers, Restraints, Opportunities, and Challenges
Figure 12 Key Developments in North Amerca Engines Market, 2016–2019
Figure 13 Caterpillar Led North America Engines Market in 2018
Figure 14 Microqaudrant
Figure 15 Cummins: Company Snapshot
Figure 16 Caterpillar: Company Snapshot
Figure 17 Rolls-Royce: Company Snapshot
Figure 18 Wartsila: Company Snapshot
Figure 19 John Deere: Company Snapshot
Figure 20 Yanmar: Company Snapshot
Figure 21 Mitsubishi Heavy Industries: Company Snapshot
Figure 22 Volvo Group: Company Snapshot
Figure 23 Doosan: Company Snapshot
Figure 24 Man Se: Company Snapshot
Figure 25 Deutz Ag: Company Snapshot

Note: Product cover images may vary from those shown
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  • Caterpillar
  • Cummins
  • Deutz Ag
  • Doosan
  • John Deere
  • Kohler
  • Man Se
  • Mitsubishi Heavy Industries
  • Rolls-Royce
  • Volvo Group
  • Wartsila
  • Yanmar
Note: Product cover images may vary from those shown
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