How Has The Heavy Duty Engines Market Size Evolved In Recent Years?
The heavy duty engines market has seen considerable growth due to a variety of factors.
• Over the past few years, the size of the heavy-duty engines market has expanded significantly. It is projected to rise from $52.14 billion in 2024 to $55.59 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%.
Factors such as development in infrastructure and construction, adherence to emission norms, the need for fuel efficiency, the globalization of commerce and transportation, as well as an increase in vehicle sizes and capacities have all contributed to the historical growth pattern.
What Is the Forecasted Market Size and Growth Rate for The Heavy Duty Engines Market?
The heavy duty engines market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for heavy duty engines is predicted to witness a significant upswing in the coming years, with a valuation estimated to reach $75.22 billion in 2029, increasing at a compound annual growth rate (CAGR) of 7.9%.
This projected growth within the forecast timeframe is largely a result of factors such as the demand for sophisticated materials, governmental stimulus and support, emphasis on durability and reliability, a shift towards alternative fuels, and the globalization of commerce and transportation. Key trends anticipated during the forecast timeframe include the electrification of powertrains, enhancements in combustion engine efficiency, the adoption of hybrid technologies, progress in engine management systems, and a concentration on sustainable fuels.
What Are The Core Factors Supporting Growth In Heavy Duty Engines Market?
The expansion of the construction industry is anticipated to fuel the development of the heavy duty engines market in the foreseeable future. The term 'construction' involves the procedure, skill, or mode of constructing a certain type of infrastructure, that may include residential buildings, institutional and commercial buildings, and specialized industrial construction. Heavy-duty engines play an important role in creating concrete mixes for large-scale construction activities as well as transporting large loads that contribute to the formation of the structure. For example, as per the Make in India campaign, a program initiated by the Indian government to promote the production and manufacturing of Indian made products, the construction and real estate sector in India is projected to escalate to USD 1 trillion by 2030. Further, it's expected that by 2025, the contribution of the construction and real estate sector to India's GDP will reach 13%. Consequently, the surge in the construction industry is a propelling force for the expansion of the heavy duty engines market.
What Key Areas Define The Segmentation Of The Global Heavy Duty Engines Market?
The heavy duty engines market covered in this report is segmented –
1) By Vehicle Class: Class 7, Class 8
2) By Horsepower: Below 400HP, 400HP - 500HP, 500HP - 600HP, Above 600HP
3) By End-User: Agriculture, Mining, Construction, Transportation And Logistics, Other End Users
Subsegments:
1) By Class 7: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of 26,001 To 33,000 Pounds, Medium-Duty Trucks, Buses, And Vocational Vehicles
2) By Class 8: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of Over 33,000 Pounds, Heavy-Duty Trucks, Tractor-Trailers, And Larger Buses
Pre-Book The Heavy Duty Engines Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Heavy Duty Engines Market?
Major corporations involved in the heavy-duty engines industry are prioritizing innovative solutions such as next-gen heavy-duty engines to boost efficiency, decrease emissions, and comply with evolving industry standards. These engines refer to significantly advanced powertrains built for commercial vehicles, aiming to increase fuel efficiency, decrease emissions, and boost performance through unconventional technologies and resources. For instance, Cummins, an American company specialized in creating, producing and distributing engines, filtration systems, and power production products, introduced its latest HELM 15-liter diesel engine in March 2024. This engine, developed to comply with U.S. EPA and CARB 2027 regulations, is based on a fuel-agnostic platform, enabling it to run on various types of fuel, such as biodiesel blends and renewable diesel. This not only increases efficiency but also promotes environmental sustainability. The HELM platform is anticipated to satisfy future emissions regulations without major architectural alterations, marking it an essential progression in improving performance and lessening the environmental effects caused by heavy-duty engines.
Who Are the Key Players in the Heavy Duty Engines Market?
Major companies operating in the heavy duty engines market include:
• Daimler AG
• Mercedes-Benz
• Caterpillar Inc.
• Deere & Company
• Volvo Trucks Corporation
• Mitsubishi Heavy Industries
• PACCAR
• Cummins Inc.
• Weichai Power Co. Ltd.
• Komatsu Ltd.
• Isuzu Motors Ltd.
• Kubota Corporation
• Scania AB
• MAN SE
• Liebherr Group
• Hino Motors Ltd.
• AGCO Corporation
• YANMAR HOLDINGS CO. LTD.
• Navistar Inc.
• Wärtsilä Oyj Abp
• Ashok Leyland Ltd.
• Rolls-Royce Power Systems AG
• China Yuchai International Limited
• Deutz AG
• Doosan Infracore
• Kirloskar Group
• Perkins Engines Company Limited
• J.C. Bamford Excavators Limited
What Is The Most Dominant Region In The Heavy Duty Engines Market?
Asia-Pacific was the largest region in the heavy duty engines market in 2024. The regions covered in the heavy duty engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
