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Heavy Duty Engines Market is expected to display a steady growth of 5% due to the rise in construction and demand for logistics| UnivDatos Market Insights
Heavy Duty Engines Market is expected to display a steady growth of 5% due to the rise in construction and demand for logistics| UnivDatos Market Insights

According to a new report published by UnivDatos Markets Insights, the

Heavy-Duty Engines Market⁠

was valued at more than USD 40 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Vehicle Class (Class 7 and Class 8); Horsepower (Below 400HP, 400HP to 500HP, 500HP to 600HP, and Above 600HP); End-user (Agriculture, Mining, Construction, Transportation and Logistics); Region/Country.

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https://univdatos.com/report/heavy-duty-engines-market/⁠

⁠

The heavy-duty engines market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the heavy-duty engines market. The heavy-duty engines market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the heavy-duty engines market at the global and regional levels.

Market Overview

The heavy-duty engines Market is expected to grow at a steady rate of around 5% in the forecast period. Heavy-duty engine vehicles are usually built to carry heavy loads and passengers. Moreover, heavy-duty engines meet the requirement of low speed and high torque to deal with different kinds of surfaces. In addition, construction vehicles, and agricultural vehicles are equipped with heavy engines to attain more power rather than speed. Heavy-duty vehicles usually have a gross vehicle weight of 10,000 pounds or more, which can be worked only with the help of heavy engines. With the growing demand for heavy-engine vehicles, the important market key players have raised their production rates. For instance, in 2022, Daimler Truck starts local production of Mercedes-Benz trucks in China.

Some of the major players operating in the market include Caterpillar Inc., Cummins Inc, Isuzu Motors Ltd, Komatsu Ltd, Mercedes-Benz, Volvo Truck, Hino Motors Ltd, Kirloskar Group, Perkins Engines Company Limited, and PACCAR.

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COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The heavy duty engines market has been significantly affected during these times owing to the delay in elective surgeries during the pandemic.

The global heavy duty engines market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

· Based on vehicle class, the market is segmented into class 7 and class 8. Class 8 heavy-duty engines are projected to be widely used in construction, agricultural, and transportation trucks, spurring market expansion. Moreover, large cargo is transported using Class 8 engine large trucks; as a result, these vehicles require a lot of torque at modest speeds. Heavy-duty vehicles benefit greatly from Class 8 engines since they have higher torque than Class 7 engines. In addition, the important market key players are working toward the advancement of the vehicles to boost the growth of the market. For instance, Mack Trucks Inc, launched its medium-duty Mack MD7 model in 2021, which included the company's fuel economy, safety, and uptime technologies.

· Based on horsepower, the market is categorized into below 400HP, 400HP - 500HP, 500HP - 600HP, and above 600HP. Among these, the 400HP-500HP segment is expected to hold a significant share of the market in the forecast period. Due to the increasing demand for these engines in automobiles, the market is anticipated to grow. As the horsepower of the engine rises, factors like weight, aerodynamics and fuel efficiency become more crucial for heavy-duty vehicles.

· Based on end-user, the market has been classified into agriculture, mining, construction, and transportation and logistics. The construction category is to witness higher adoption of heavy-duty engines during the forecast period owing to the increase in the construction of residential buildings, institutions and commercial buildings, and specialized industrial construction. Heavy-duty engines are used for preparing concrete mixes for big construction projects along with carrying big loads that make up the structure and reducing the time as well as manpower. For instance, according to Make in India, an initiative by the Indian government to encourage companies to develop and manufacture products that are made in India, the Indian construction and real estate sector is expected to reach US$ 1 trillion by 2030.

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https://univdatos.com/report/heavy-duty-engines-market/⁠

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Heavy duty engines Market Geographical Segmentation Includes:

· North America (United States, Canada, and Rest of North America)

· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

· Rest of the World

APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increase in agricultural activities, expansion of the construction companies backed by growing disposable income and surging per capita spending of individuals in the emerging economies of the region is driving the growth of the market. Moreover, the regional market demand is anticipated to be driven by the expanding transportation & logistics sector in nations like China, Japan, and India. The automobile industry in APAC is thriving thanks to quick urbanisation, expanding infrastructure, and a prosperous economy. Product sales will be boosted by the increased number of heavy commercial vehicle replacements and sales of new vehicles.

The major players targeting the market include

· Caterpillar Inc

· Cummins Inc

· Isuzu Motors Ltd

· Komatsu Ltd

· Mercedes-Benz

· Volvo Truck

· Hino Motors Ltd

· Kirloskar Group

· Perkins Engines Company Limited

· PACCAR

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Heavy-duty engines market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the heavy-duty engines market?

• Which factors are influencing the heavy-duty engines market over the forecast period?

• What are the global challenges, threats, and risks in the heavy-duty engines market?

• Which factors are propelling and restraining the heavy-duty engines market?

• What are the demanding global regions of the heavy-duty engines market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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