According to Stratistics MRC, the Global High Speed Engine Market is accounted for $19.10 billion in 2019 and is expected to reach $33.06 billion by 2027 growing at a CAGR of 7.1% during the forecast period.
Some of the key factors propelling the market growth include rising demand for reliable and uninterrupted power to drive the high-speed engine market for backup power generation and growth in international marine freight transport to create demand for marine high-speed engines. However, high maintenance cost of high speed engines may restrain the market growth.
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High speed engines are widely used for propelling small, generally specialized, commercial vessels, and as main and emergency genset drives on all types of tonnage. High speed engine designs are benefited from several technological innovations such as modular assembly, electronically controlled fuel injection systems, common rail fuel systems, and sophisticated electronic control/ monitoring systems.
By the end user, the power generation segment is anticipated to expand at a rapid pace during the forecast period as high-speed engines are commonly used for backup power solutions to provide standby or continuous power supply to critical loads.
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On the basis of geography, Asia Pacific region is likely to have lucrative growth during the forecast period due to the increasing electricity demand and industrialization projects in countries such as China, India, and Japan.
Some of the key players in High Speed Engine Market include Caterpillar, Cummins, Rolls Royce Holdings, Volvo Penta, Man SE, Weichai power, Wartsila, Mitsubishi Heavy Industries Engine & Turbochargers, Doosan Infracore, Yanmar Holdings.
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Power Outputs Covered:
• 0.5–1 MW
• 1–2 MW
• 2–4 MW
• Above 4 MW
• 1000–1500 rpm
• 1500–1800 rpm
• Above 1800 rpm
End Users Covered:
• Mining and Oil & Gas
• Power Generation
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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