The report "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", 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. Increase in number of power outages, growing
demand for uninterrupted & reliable power supply for industrial
applications, increasing demand for commercial vessels due to increase in
seaborne trade, and high demand from power supply utilities to ensure proper
functioning of data centers & IT facilities are likely to drive the North
America engines market during the forecast period. Rise in demand for hybrid
fuel engines is an opportunity for the North America engines market.
Don’t miss out on business opportunities in North
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Power
generation engines segment, by type, is expected to hold the largest share of
the North America Engines Market during the forecast period.
The North America Engines Market, by type, has been
classified into power generation and marine applications. The power generation
segment includes emergency & standby, prime power, peak shaving, and the
marine segment includes recreational and commercial. Power outages and growing
customer preference toward intermittent power supply, growing demand for
natural gas and mobile engines are expected to drive the power generation North
America Engines Market. The emergency & standby generators are the most
attractive application due to numerous events hosted by the respective nations
as well as grid maintenance activities.
Browse and in-depth TOC on "North America Engines Market"
50 - Tables
23 - Figures
102 - Pages
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TOC @
Above 700 HP segment of
the North America Engines Market, by power rating, is expected to be the
largest market during the forecast period.
Above
700 HP segment led the North America Engines Market in 2018 and is estimated to
be the largest market during the forecast period. The main production growth is
projected to come from natural gas units because of increase in shale gas
production in the US and gas from oil sands in Canada. Increasing demand from
the offshore and industrial applications in the US and Canada is expected to
drive the above 700 HP segment during the forecast period. The above 700 HP
segment is projected to experience a slower growth during the forecast period
due to investments uncertainties in the oil & gas industry.
US: The leading North
America Engines Market
In
this report, the North America Engines Market has been analyzed with respect to
2 countries—the US and Canada. The US led the North America Engines Market in
2018. Bi-fuel generators offer advantages of both gas generators and diesel
generators and improve the reliability of standby power system. Most of the
time, bi-fuel generators run on gas but in case of emergency, it can run on
100% diesel also.
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To
enable an in-depth understanding of the competitive landscape, the report
includes the profiles of some of the top players in the North America
Engines Market. The key players include Cummins (US), Caterpillar (US),
Wärtsilä (Finland), Rolls-Royce (UK), John Deere (US), Yanmar (Japan), and
Mitsubishi Heavy Industries (Japan).
The
leading players are adopting various strategies to increase their share in the North
America Engines Market. New product launches was one of the key strategies
adopted by the players to strengthen their presence and offerings in North
America.
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