Gasoline Segment to Dominate North America Small ICE Market during 2019-2027
According to this research study titled “North America Small ICE Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Fuel Type, Cylinders, Power Output Range and End User,” the market is expected to reach US$ 1175.51 million by 2027 from US$ 822.68 million in 2020. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The report provides trends prevailing in the North America small ice market along with the drivers and restraints pertaining to the market growth. Stringent Emission Norms Creating Demand for Efficient Fuel Engines are the major factor driving the growth of the North America small ice market. However, issues associated with the Inclination Toward Electric Energy over Fossil Fuels hinder the growth of North America Small Internal Combustion Engine (ICE) Market
In the North American region, a slight decline in the demand for small ICE was witnessed owing to a halt in the construction, manufacturing, transportation and oil & gas industry. In Canada, construction and manufacturing projects deemed nonessential were shut down, and the essential projects are subject to public health guidelines. However, positive demand from power distribution as well as energy & infrastructures, particularly in on-shore wind, were noticed. Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for renewable energy projects. In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including renewable energy. The renewable energy industry in the US, including wind and solar power, has witnessed growth during the COVID-19 epidemic so far. Furthermore, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for small ICE used in infrastructure projects.
The North America small ice market is segmented based on fuel type, cylinders, power output, end-use industry, and country. Based on fuel type, the market is segmented into gasoline, diesel, and Gas. The gasoline segment is further subsegmented into compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1-5 kW, 6-10 kW, and 11-20 kW. In terms of end-use industry, the market is segmented into power generation, manufacturing, oil and gas, transportation, and others.
Caterpillar Inc., Kawasaki Heavy Industries, Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD., Cummins, Inc, Fairbanks Morse, INNIO, Wärtsilä Corporation, Rolls-Royce Holdings plc are among the leading companies in North America small ice market ,The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, INNIO announces that the acquisition of ECI-Distribution GmbH and PowerUp GmbH, announced on November 4, 2020, has been completed effective December 1, 2020. The energy technology company ECI-Distribution GmbH, which was acquired by INNIO, covers numerous parts of the gas engine value chain. They produce state-of-the-art components for reducing emissions and increasing the efficiency of gas engines. Founded in 2014, the company also has a worldwide distribution network
The report segments the North America Small ICE Market as follows:
Small ICE Market - By Fuel Type
Small ICE Market - By Gas Type
Small ICE Market - By Cylinder
Small ICE Market - By Power Output
Small ICE Market - By End-Use Industry
Small ICE Market - By Country
In the North American region, a slight decline in the demand for small ICE was witnessed owing to a halt in the construction, manufacturing, transportation and oil & gas industry. In Canada, construction and manufacturing projects deemed nonessential were shut down, and the essential projects are subject to public health guidelines. However, positive demand from power distribution as well as energy & infrastructures, particularly in on-shore wind, were noticed. Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for renewable energy projects. In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including renewable energy. The renewable energy industry in the US, including wind and solar power, has witnessed growth during the COVID-19 epidemic so far. Furthermore, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for small ICE used in infrastructure projects.
The North America small ice market is segmented based on fuel type, cylinders, power output, end-use industry, and country. Based on fuel type, the market is segmented into gasoline, diesel, and Gas. The gasoline segment is further subsegmented into compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1-5 kW, 6-10 kW, and 11-20 kW. In terms of end-use industry, the market is segmented into power generation, manufacturing, oil and gas, transportation, and others.
Caterpillar Inc., Kawasaki Heavy Industries, Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD., Cummins, Inc, Fairbanks Morse, INNIO, Wärtsilä Corporation, Rolls-Royce Holdings plc are among the leading companies in North America small ice market ,The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, INNIO announces that the acquisition of ECI-Distribution GmbH and PowerUp GmbH, announced on November 4, 2020, has been completed effective December 1, 2020. The energy technology company ECI-Distribution GmbH, which was acquired by INNIO, covers numerous parts of the gas engine value chain. They produce state-of-the-art components for reducing emissions and increasing the efficiency of gas engines. Founded in 2014, the company also has a worldwide distribution network
The report segments the North America Small ICE Market as follows:
Small ICE Market - By Fuel Type
- Gasoline
- Diesel
- Gas
Small ICE Market - By Gas Type
- CNG
- LPG
- LNG
Small ICE Market - By Cylinder
- 1
- 2
- 3
- 4
Small ICE Market - By Power Output
- 1-5 kW
- 6-10 kW
- 11-20 kW
Small ICE Market - By End-Use Industry
- Power Generation
- Manufacturing
- Oil and Gas
- Transportation
- Others
Small ICE Market - By Country
- United States
- Canada
- Mexico
Frequently Asked Questions about the North American Small Internal Combustion Engine (ICE) Market
What is the estimated value of the North American Small Internal Combustion Engine (ICE) Market?
What is the growth rate of the North American Small Internal Combustion Engine (ICE) Market?
What is the forecasted size of the North American Small Internal Combustion Engine (ICE) Market?
Who are the key companies in the North American Small Internal Combustion Engine (ICE) Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 107 |
| Published | June 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 822.68 Million |
| Forecasted Market Value ( USD | $ 1175.51 Million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | North America |
Table of Contents
1. Introduction
3. Research Methodology
4. Market Landscape
5. North America Small Internal Combustion Engine Market - Key Market Dynamics
6. Small Internal Combustion Engine Market - North America Analysis
7. North America Small Internal Combustion Engine Market Analysis 2027 - by Fuel Type
8. North America Small Internal Combustion Engine Market Analysis 2027- By Cylinders
9. North America Small Internal Combustion Engine Market Analysis 2027 - by Power Output
10. North America Small Internal Combustion Engine Market Analysis 2027- By End User
11. North America Small Internal Combustion Engine Market - Country Analysis
12. Impact of COVID-19 Pandemic on North America Small ICE Market
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Caterpillar Inc.
- Cummins, Inc
- Fairbanks Morse
- INNIO
- Kawasaki Heavy Industries, Ltd.
- Liebherr
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Rolls-Royce Holdings plc
- Wärtsilä Corporation
- YANMAR HOLDINGS CO., LTD.
