Global High-Speed Engine Market (2021 to 2026) - Growing Trend of Distributed Power Generation Presents New Opportunities

Dublin, April 01, 2021 (GLOBE NEWSWIRE) -- The "High-Speed Engine Market by Speed (1000-1500 rpm, 1500-1800 rpm, and Above 1800 rpm), Power Output (0.5-1 MW, 1-2 MW, 2-4 MW, and Above 4 MW), End User (Power Generation, Marine, Railway, Mining and Oil & Gas, and Others), & Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global high-speed engine market is projected to reach USD 27.1 billion by 2026 from an estimated USD 21.1 billion in 2021, at a CAGR of 5.1% during the forecast period.

Rising demand for reliable and uninterrupted power, growth in international marine freight transport, and growth in maritime tourism are the major drivers of the high-speed engine markets. Increased demand for backup power solutions are expected to be the major factor driving the growth of high-speed engines market during forecast period. However, Due to the COVID-19 pandemic, local currencies of many countries have depreciated. There is a misalignment of supply and demand, leading to financial losses for components/parts manufacturers. Key components used in manufacturing high-speed engines are procured typically in US dollars, which results in increased component cost, which is likely to hamper the growth of the high-speed engine market.

The 1-2 MW segment, by power output, is expected to be the largest market from 2021 to 2026.

The high-speed engine market by power output is categorized into 4 segments namely 0.5-1 MW, 1-2 MW, 2-4 MW, and Above 4 MW. The 1-2 MW segment is projected to lead the high-speed engine market during the forecast period. The demand for high-speed engines under this range comes from medium- to large-scale commercial facilities, small- to medium-sized industrial facilities, large office complexes, and shopping malls. High-speed engine generator sets in this range are also popular prime power supply sources for small-scale industrial loads and remote applications, especially in emerging economies. The demand for these engines is huge due to the increased demand for emergency backup generators for industrial and data center applications across the world.

The power generation segment, by the end user, is expected to be the fastest-growing market from 2021 to 2026.

The end user segments are categorized as Power Generation, Marine, Railway, Mining and Oil & Gas and others. Others include agriculture, defense, and industrial end users.In the power generation sector, the demand for high-speed engines is prominent due to their use in diesel and gas generator sets. To provide standby or continuous power supply to critical loads, the end users rely on high-speed diesel or gas engines. High-priority loads such as hospitals, data centers, and industries require a continuous uninterrupted source of power supply. Diesel and gas generator sets are used by these end users as an emergency backup in the event of loss of supply from the grid. Many industries and commercial establishments use generator sets with high-speed engines for standby backup power. In regions with poor electrification rates such as sub-Saharan and a few south Asian countries, these generator sets are used for continuous or prime power supply as well.

North America: The fastest-growing region in the high-speed engine market.

North America is expected to be the fastest growing high-speed engine market during the forecast period. North America comprises US, Canada, and Mexico. US is the major high-speed engine markets in North America. The country is also the world largest market for high-speed engines. The power infrastructure in North America is aging, and this may increase the risk of widespread blackouts and power outages. Recent large-scale outages in various states, such as in Texas, are expected to lead to increased investments in backup power solutions. In addition, shale gas developments are expected to further aid the growth of the high-speed engine market in this region

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in High-Speed Engine Market
4.2 High-Speed Engine Market, by Region
4.3 High-Speed Engine Market, by Speed
4.4 High-Speed Engine Market, by Power Output
4.5 High-Speed Engine Market, by End-user

5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Global Road to Recovery from COVID-19
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Rising Demand for Reliable and Uninterrupted Power to Drive the High-Speed Engine Market for Backup Power Generation
5.5.1.2 Growth in International Marine Freight Transport to Create Demand for Marine High-Speed Engines
5.5.1.3 Growth in Maritime Tourism to Aid the Market Growth of Marine High-Speed Engines
5.5.2 Restraints
5.5.2.1 High Fuel and Operation & Maintenance Costs of High-Speed Engines Compared to New Emerging Technologies Can be a Restraint
5.5.2.2 Dependence on Heavy Fuel as Primary Fuel for Marine High-Speed Engines Can Act as a Restraint
5.5.3 Opportunities
5.5.3.1 Growing Trend of Distributed Power Generation Presents New Opportunities for High-Speed Engines
5.5.4 Challenges
5.5.4.1 Implementation of Stricter Emission Regulations Can Create a Challenge for Market Growth of High-Speed Engines
5.5.4.2 Fluctuations in Oil & Gas Price Can be a Challenge for Growth of Marine High-Speed Engines
5.6 YC-Shift
5.6.1 Revenue Shift and New Revenue Pockets
5.7 Market Map
5.8 Average Selling Price Trend
5.9 Supply Chain Analysis
5.9.1 Raw Material Suppliers
5.9.2 Manufacturers
5.9.3 Distributors
5.9.4 End-users
5.10 Technology Analysis
5.11 Trade Data Statistics
5.12 High-Speed Engines: Tariffs and Regulations
5.13 Case Study Analysis
5.14 Porter's Five Forces Analysis

6 High-Speed Engine Market, by Speed
6.1 Introduction
6.2 1000-1500 rpm
6.2.1 Rising Demand from Power Generation and Marine End-users to Fuel Demand for High-Speed Engines in this Range
6.3 1500-1800 rpm
6.3.1 Surging Demand from Power Generation and Marine End-users to Propel Demand for High-Speed Engines of this Speed Range
6.4 Above 1800 rpm
6.4.1 Growing Demand from Marine End-users is Expected to Drive Market Growth for this Segment

7 High-Speed Engine Market, by Power Output
7.1 Introduction
7.2 0.5-1 Mw
7.2.1 Increased Demand for Generators in Commercial Applications to Fuel Demand for High-Speed Engines
7.3 1-2 Mw
7.3.1 Surging Demand from Power Generation and Marine End-users to Drive Demand for High-Speed Engines
7.4 2-4 Mw
7.4.1 Growing Demand for High-Speed Engines for Backup Power Solutions and Large Marine Vessels to Drive Engine Market Growth
7.5 Above 4 Mw
7.5.1 Sustaining Demand in Asia-Pacific is Expected to Drive High-Speed Engine Market Growth for this Segment

8 High-Speed Engine Market, by End-user
8.1 Introduction
8.2 Power Generation
8.2.1 Increased Requirement for Reliable and Continuous Power Supply to Fuel Demand for High-Speed Engines
8.3 Marine
8.3.1 Growing Number of Commercial Vessels for Maritime Freight Transport is Driving Demand for High-Speed Engines
8.4 Railway
8.4.1 Railway Electrification to Act as Challenge for High-Speed Engine Market Growth
8.5 Mining and Oil & Gas
8.5.1 Increasing Oil & Gas Operations are Expected to Drive High-Speed Engine Market Growth
8.6 Others

9 High-Speed Engine Market, by Region
9.1 Introduction
9.2 North America
9.3 Asia-Pacific
9.4 South America
9.4.1 Impact of COVID-19 on High-Speed Engine Market in South America
9.5 Europe
9.6 Middle East & Africa

10 Competitive Landscape
10.1 Overview
10.2 Market Share of Key Players, 2019
10.3 Ranking and Revenue Analysis of Top 5 Market Players
10.4 Market Evaluation Framework
10.5 Competitive Scenario
10.6 Company Evaluation Quadrant
10.6.1 Star
10.6.2 Emerging Leaders
10.6.3 Pervasive
10.6.4 Participants
10.6.5 Product Footprint

11 Company Profiles
11.1 Key Players
11.1.1 Caterpillar
11.1.2 Cummins
11.1.3 Rolls-Royce Holdings
11.1.4 Man Se
11.1.5 Volvo Penta
11.1.6 Weichai Power
11.1.7 Wartsila
11.1.8 Hyundai Heavy Industries
11.1.9 Mitsubishi Heavy Industries Engine & Turbochargers
11.1.10 Doosan Infracore
11.1.11 Yanmar Holdings
11.1.12 Kohler
11.1.13 Anglo Belgian Corporation
11.1.14 IHI Power Systems
11.1.15 Deutz
11.1.16 John Deere
11.2 Other Players
11.2.1 Guangzhou Diesel Engine Factory
11.2.2 Daihatsu Diesel Mfg
11.2.3 FPT Industrial
11.2.4 CNPC Jichai Power Company Limited
11.2.5 Liebherr

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Subscription Portal
12.4 Available Customizations

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