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Heavy Duty Engine Market Share

Report ID: GMI5134
Published Date: Aug 2024
Report Format: PDF

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Heavy Duty Engine Market Share

The global heavy duty engine industry is consolidated, with major regional companies operating on a global scale. Together these companies hold a market share of 45%-50% of the total market. In 2023, These firms are increasingly focused on innovation to meet the growing demand for high-performance engines. Companies are investing in research and development to create engines that not only meet stringent environmental regulations but also offer improved fuel efficiency and reduced emissions. Additionally, there's a growing emphasis on incorporating advanced technologies such as predictive maintenance and IoT integration to enhance engine reliability and operational efficiency.

Heavy Duty Engine Market Companies

Major players operating in the global heavy duty engine industry are:

Caterpillar
Cummins
Daimler AG
Detroit Diesel
Deutz AG
HYDI
Isuzu Motors Limited
Kubota Corporation
Mack
Navistar
PACCAR
Rolls-Royce Power Systems AG
Volvo Group
Weichai Power Co., Ltd.
Yanmar Holdings Co., Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of heavy duty engine reached USD 53.5 billion in 2023 and is set to register 6.6% CAGR between 2024 and 2032, due to the infrastructure development and technological advancements.

The class 8 segment in the heavy duty engine industry accounted for USD 45 billion in 2023, owing to its high power and durability for heavy-duty tasks.

Asia Pacific market is expected to reach USD 53.5 billion by 2032, driven by rapid industrialization, urbanization, and infrastructure development across countries.

Caterpillar, Cummin, Daimler AG, Detroit Diesel, Deutz AG, HYDI, Isuzu Motors Limited, Kubota Corporation, Mack, Navistar, PACCAR, Rolls-Royce Power Systems AG, Volvo Group, Weichai Power Co., Ltd., and Yanmar Holdings Co., Ltd.