Press release
Heavy Duty Engines Market to reach USD 4.89 Bn by 2029, emerging at a CAGR of 5.5 percent and forecast 2023-2029
Heavy Duty Engines Market
The Heavy Duty Engines Market is witnessing robust growth driven by increased demand for heavy-duty trucks in logistics and construction applications worldwide. While the COVID-19 pandemic had a significant impact on the market in 2022 due to trade restrictions and supply chain disruptions, it is expected to rebound, with the Asia Pacific region leading the way with an anticipated growth rate of approximately 6% during the forecast period.
In this report, the year 2022 serves as the base year, focusing on the real output of companies operating in the market. Special attention has been given to the effects of lockdowns on demand and supply, both in 2022 and their anticipated impact over the next two years. The report also includes a strategic analysis of companies that performed well during the lockdown period.
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Heavy Duty Engines Market Dynamics:
Investments in infrastructure development and fuel station installations are fueling the demand for heavy-duty engines.
Adoption of advanced technology, including Advanced Driver Assistance Systems (ADAS), is attracting more customers with features such as timely warnings and IoT sensor-based object identification.
Global investments in energy-efficient buildings are on the rise, creating opportunities for the heavy-duty engines market.
Increased efforts to decarbonize buildings by governments and industries are expected to create favorable market conditions.
Concerns about excessive fuel consumption and efficiency among heavy-duty vehicle makers and end-users.
Disruptions in the industrial supply chain caused by the ongoing COVID-19 pandemic, which have hindered market growth.
Heavy Duty Engines Market Regional Insights:
Asia Pacific: Expected to grow at a pace of about 6% during the forecast period, driven by economic growth in countries like China, India, Japan, and Indonesia, and a booming building industry.
North America: Expected to see significant growth due to reliance on heavy-duty trucks for freight delivery, with the market worth over USD 14.5 billion by 2029.
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Heavy Duty Engines Market Segmentation:
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
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Heavy Duty Engines Market Key Players:
• Caterpillar
• Cummins
• Isuzu
• Komatsu
• Volvo
• Detroit
• Hino
• Kirloskar
• Perkins
• PACCAR
• Mack
• Mercedes-Benz
• Navistar
• Volvo Truck
• Perkins
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Table of content for the Heavy Duty Engines Market includes:
1. Global Heavy Duty Engines Market: Research Methodology
2. Global Heavy Duty Engines Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3.Global Heavy Duty Engines Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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