Heavy Duty Engines Market: Industry Analysis and Forecast 2023-2029

Heavy Duty Engines Market is anticipated to reach US$ 4.89 Bn. by 2029 from US$ 3.36 Bn in 2022 at a CAGR of 5.5 % during a forecast period. The markets revenue is expected to be driven by a strong demand for heavy duty trucks for logistics and construction applications across the world. Owing to trade restrictions and disruptions in the transportation industry and supply chains, the COVID-19 pandemic served as a significant pressure on the heavy duty engines market in 2022, resulting in a decline in demand due to lockdowns enforced by various countries throughout the world. The market for heavy duty engines in Asia Pacific is expected to grow at a pace of about 6% during the forecast period.Heavy Duty Engines Market To know about the Research Methodology :- Request Free Sample Report In report, 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2022 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Heavy Duty Engines Market Dynamics

The need for heavy duty engines is being driven by investments in infrastructure growth and critical fuel station installations, which are supporting freight movements. The use of advanced technology in heavy-duty vehicle production, such as the Advanced Driver Assistance System (ADAS), is attracting a growing number of customers. The benefits of such technology, including as timely warnings and peripheral object identification using IoT sensors, are attracting a growing number of heavy-duty vehicle customers. The strong demand for trucks with ADAS, fueled by a huge number of incidents involving such vehicles, is driving the growth of the market during the forecast period (2023-2029). Global building and construction investment is increasing, which is helping to drive up product consumption. One of the major factors propelling the market is the industry's drive toward energy-efficient structures. For example, global investment on energy-efficient buildings increased by 3% in 2022 compared to the 2022 reaching USD 152 billion. Additionally, the government's and industries increased efforts to decarbonize buildings are expected to create attractive market opportunities during the forecast period. Heavy-duty vehicle makers and end-users, on the other hand, are concerned about excessive fuel consumption and efficiency. Furthermore, the ongoing COVID-19 epidemic has affected the industrial supply chain, impeding the growth of the heavy duty engines market.

Heavy Duty Engines Market Segmentation Analysis

By Vehicle Class, in 2022, the class 7 segment accounted for more than 20% of total volume. Due to a variety of characteristics, including as mobility, low weight, and improved fuel efficiency, class 7 vehicles are becoming more popular. The widespread use of these cars for day-to-day mobility is fuelling market demand even further. In addition, manufacturers are focusing on offering technologically integrated class 7 trucks with advanced features to meet the needs of diverse industries. Mack Trucks, Inc., for example, launched its medium-duty Mack MD7 model in 2022, which included the company's fuel economy, safety, and uptime technologies. The segment of class 8 engines is expected to grow at a 5.8 percent CAGR through 2029. Because of their characteristics, class 8 heavy duty engines are likely to see widespread use in transportation trucks, agricultural vehicles, and construction vehicles, propelling market growth. Class 8 engine heavy trucks are used to transport big cargo; as a result, these vehicles demand considerable torque at moderate speeds. Because Class 8 engines provide more torque than Class 7 engines, they are ideal for heavy-duty vehicles. By Horsepower, the market for heavy duty engines with 500 to 600 horsepower is expected to increase steadily during the forecast period. The market is expected to increase due to rising demand for these engines in vehicles. For heavy-duty vehicles, considerations like weight, aerodynamics, and fuel efficiency are increasingly important as the horsepower of the engine increases. Heavy Duty Engines Market The market for heavy duty engines with less than 400 horsepower is expected to grow at a 3.5 percent CAGR during the forecast period. The market's major growth enabling factors are the engines' excellent fuel economy and low weight. Furthermore, the increased capacity of engines with horsepower sub 400 to transport large loads at a cheap cost is propelling product penetration.

Heavy Duty Engines Market Regional Insight

The market for heavy duty engines in Asia Pacific is expected to grow at a pace of about 6% during the forecast period. The fastest economic growth in Asia Pacific countries, such as China, India, Japan, and Indonesia, as well as the region's booming building industry, are expected to drive products demand. Because of the existence of major heavy-duty vehicle manufacturers such as Kenworth International, Freightliner, Volvo, Peterbilt, and Mack, North America is expected to see significant growth. North America relies on heavy-duty trucks to deliver over 60% of its freight, which is expected to increase demand. By 2029, the market for heavy-duty engines in North America is expected to be worth more than USD 14.5 billion. The freight operations in the region are likely to exhibit a positive growth during the forecast period.

Report Objectives:

• Landscape analysis of the Heavy Duty Engines Market • Competitor benchmarking • Past and current status of the industry with the forecasted market size and trends • Evaluation of potential key players that include market leaders, followers, and new entrants • Technology trends • Potential impact of micro-economic factors of the market • External and Internal factors affecting market have been analyzed The report also helps in understanding the Heavy Duty Engines Market dynamics, structure by analyzing the market segments and project the Heavy Duty Engines Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Heavy Duty Engines Market make the report investor’s guide.

Heavy Duty Engines Market Scope: Inquire before buying

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Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 3.36 Bn.
Forecast Period 2023 to 2029 CAGR: 5.5% Market Size in 2029: US $ 4.89 Bn.
Segments Covered: 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

Heavy Duty Engines Market by Region

North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)

Heavy Duty EnginesMarket: Key Players

• Caterpillar • Cummins • Isuzu • Komatsu • Volvo • Detroit • Hino • Kirloskar • Perkins • PACCAR • Mack • Mercedes-Benz • Navistar • Volvo Truck • Perkins

Frequently Asked Questions

1. Which region has the largest share in Global Heavy Duty Engines Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Heavy Duty Engines Market? Ans: The Global Heavy Duty Engines Market is growing at a CAGR of 5.5% during forecasting period 2023-2029. 3. What is scope of the Global Heavy Duty Engines Market report? Ans: Global Heavy Duty Engines Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Heavy Duty Engines Market? Ans: The important key players in the Global Heavy Duty Engines Market are – Caterpillar, Cummins, Isuzu, Komatsu, Volvo, Detroit, Hino, Kirloskar, Perkins, PACCAR, Mack, Mercedes-Benz, Navistar, Volvo Truck, Perkins 5. What is the study period of this Market? Ans: The Global Heavy Duty Engines Market is studied from 2022 to 2029.  
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Heavy Duty Engines Market Size, by Market Value (US$ Bn) 3.1. Market Segmentation 3.2. Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Heavy Duty Engines Market 3.4. Geographical Snapshot of the Heavy Duty Engines Market, By Manufacturer share 4. Heavy Duty Engines Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Heavy Duty Engines Market 5. Supply Side and Demand Side Indicators 6. Heavy Duty Engines Market Analysis and Forecast, 2022-2029 6.1. Heavy Duty Engines Market Size & Y-o-Y Growth Analysis. 7. Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Vehicle Class, 2022-2029 7.1.1. Class 7 7.1.2. Class 8 7.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 7.2.1. Below 400HP 7.2.2. 400HP – 500HP 7.2.3. 500HP – 600HP 7.2.4. Above 600HP 7.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 7.3.1. Agriculture 7.3.2. Mining 7.3.3. Construction 7.3.4. Transportation & Logistics 8. Heavy Duty Engines Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Vehicle Class, 2022-2029 9.1.1. Class 7 9.1.2. Class 8 9.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 9.2.1. Below 400HP 9.2.2. 400HP – 500HP 9.2.3. 500HP – 600HP 9.2.4. Above 600HP 9.3. Market Size (Value) Estimates & Forecast By End-user,2022-2029 9.3.1. Agriculture 9.3.2. Mining 9.3.3. Construction 9.3.4. Transportation & Logistics 10. North America Heavy Duty Engines Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 11.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 11.3. Market Size (Value) Estimates & Forecast By End-user,2022-2029 12. Canada Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 12.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 12.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 13. Mexico Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 13.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 13.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 14. Europe Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 14.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 14.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 15. Europe Heavy Duty Engines Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 16.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 16.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 17. France Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 17.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 17.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 18. Germany Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 18.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 18.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 19. Italy Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 19.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 19.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 20. Spain Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 20.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 20.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 21. Sweden Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 21.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 21.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 22. CIS Countries Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 22.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 22.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 23. Rest of Europe Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 23.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 23.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 24. Asia Pacific Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 24.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 24.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 25. Asia Pacific Heavy Duty Engines Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 26.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 26.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 27. India Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 27.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 27.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 28. Japan Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 28.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 28.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 29. South Korea Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 29.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 29.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 30. Australia Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 30.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 30.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 31. ASEAN Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 31.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 31.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 32. Rest of Asia Pacific Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 32.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 32.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 33. Middle East Africa Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 33.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 33.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 34. Middle East Africa Heavy Duty Engines Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 35.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 35.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 36. GCC Countries Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 36.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 36.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 37. Egypt Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 37.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 37.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 38. Nigeria Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 38.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 38.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 39. Rest of ME&A Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 39.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 39.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 40. South America Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 40.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 40.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 41. South America Heavy Duty Engines Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 42.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 42.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 43. Argentina Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 43.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 43.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 44. Rest of South America Heavy Duty Engines Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Vehicle Class,2022-2029 44.2. Market Size (Value) Estimates & Forecast By Horsepower,2022-2029 44.3. Market Size (Value) Estimates & Forecast By End-user, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Heavy Duty Engines Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Cummins 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Caterpillar 45.3.3. Cummins 45.3.4. Isuzu 45.3.5. Komatsu 45.3.6. Volvo 45.3.7. Detroit 45.3.8. Hino 45.3.9. Kirloskar 45.3.10. Perkins 45.3.11. PACCAR 45.3.12. Mack 45.3.13. Mercedes-Benz 45.3.14. Navistar 45.3.15. Volvo Truck 45.3.16. Perkins 45.3.17. Bell Intercoolers 45.3.18. Mishimoto 45.3.19. Treadstone Performance Engineering 45.3.20. Forge Motorsport Inc 45.3.21. KVR International 45.3.22. KALE Oto Radyator 45.3.23. PWR Advanced cooling technology 45.3.24. Groupe BMR 45. Primary Key Insights
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