Heavy Duty Engines Market Size, Share, Growth, Forecast 2030

Heavy Duty Engines Market Size And Industry Analysis

The global Heavy Duty Engines Market size accrued earnings worth approximately 46 (USD Billion) in 2021 and is predicted to gain revenue of about 68 (USD Billion) by 2028, is set to record a CAGR of nearly 6.1% over the period from 2022 to 2028.

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The report offers an assessment and analysis of the Heavy Duty Engines Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

Global Heavy Duty Engines Market: Outlook

Heavy duty engines are utilized in heavy vehicles designed for carrying huge loads including passengers & goods. In addition to this, these products are constructed taking into consideration the power needs of automobiles requiring high torque at reduced speed. Moreover, heavy duty engines are run on diesel ensuring high torque in comparison to petrol engines. Hence, diesel engines are preferred over heavy vehicles.

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Heavy Duty Engines Market: Growth Drivers

Growth of heavy duty engines market over the assessment period is subject to rise in demand for transportation activities across the globe. Furthermore, new diesel heavy duty engine tools are developed for fulfilling massive requirements of reducing fuel usage along with reducing carbon emissions. This can create new growth avenues for heavy duty engines industry. Apart from this, the mammoth growth of heavy duty engines industry over anticipated timeline can be attributed to the surge in logistics demand and a rise in the popularity of heavy vehicles in the transportation sector will proliferate the size of heavy duty engines industry.

Heavy Duty Engines Market: Report Scope

Moreover, the huge demand for trucks embedded with ADAS technique along with the rise in the number of vehicles on roads will propel the scope of heavy duty engines market growth. However, high raw material costs are projected to create hindrances in the path of growth of heavy duty engines market.

Global Heavy Duty Engines Market: Competitive Landscape

Key players profiled in the report and favorably influencing heavy duty engines market are Cummins, Inc., Caterpillar Inc., Volvo Trucks Corporation, Hino Motors, Ltd., Mercedes-Benz, Mack Trucks, Inc., Navistar International Corporation, and Detroit Diesel Corporation.

Heavy Duty Engines Market: Regional Landscape

Asia Pacific Heavy Duty Engines Market To Expand In Leaps Over Forecast Period

The growth of heavy duty engine industry in Asia Pacific over the next six years can be credited to a rise in transportation events and logistics activities in countries such as China, Indonesia, Bangladesh, Japan, Sri Lanka, and India. Apart from this, swift urbanization, infrastructural growth, and supportive economic policies will translate into the expansion of heavy duty engines industry in the sub-continent.

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Reportedly, the rise in the sale of heavy commercial vehicles in the sub-continent and a surge in replacements of outdated automobiles will enhance product penetration in the vehicle manufacturing sector across the Asia Pacific zone.

Heavy Duty Engines Market: Competitive Space

The global Heavy Duty Engines market profiles key players such as:

• Cummins, Inc
• Caterpillar Inc
• Volvo Trucks Corporation
• Hino Motors, Ltd
• Mercedes-Benz
• Mack Trucks, Inc
• Navistar International Corporation
• Detroit Diesel Corporation

The global Heavy Duty Engines Market is segmented as follows:

By Vehicle Class

• Class 7
• Class 8

By Horsepower

• Below 400HP
• 400HP – 500HP
• 500HP – 600HP
• Above 600HP

By End-User

• Agriculture
• Mining
• Construction
• Transportation & Logistics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa