DUBLIN--(BUSINESS WIRE)--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.

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

Market Dynamics

Drivers

  • Rising Demand for Reliable and Uninterrupted Power to Drive the High-Speed Engine Market for Backup Power Generation
  • Growth in International Marine Freight Transport to Create Demand for Marine High-Speed Engines
  • Growth in Maritime Tourism to Aid the Market Growth of Marine High-Speed Engines

Restraints

  • High Fuel and Operation & Maintenance Costs of High-Speed Engines Compared to New Emerging Technologies Can be a Restraint
  • Dependence on Heavy Fuel as Primary Fuel for Marine High-Speed Engines Can Act as a Restraint

Opportunities

  • Growing Trend of Distributed Power Generation Presents New Opportunities for High-Speed Engines

Challenges

  • Implementation of Stricter Emission Regulations Can Create a Challenge for Market Growth of High-Speed Engines
  • Fluctuations in Oil & Gas Price Can be a Challenge for Growth of Marine High-Speed Engines

Companies Mentioned

  • Anglo Belgian Corporation
  • Caterpillar
  • CNPC Jichai Power Company Limited
  • Cummins
  • Daihatsu Diesel Mfg
  • Deutz
  • Doosan Infracore
  • FPT Industrial
  • Guangzhou Diesel Engine Factory
  • Hyundai Heavy Industries
  • IHI Power Systems
  • John Deere
  • Kohler
  • Liebherr
  • Man Se
  • Mitsubishi Heavy Industries Engine & Turbochargers
  • Rolls-Royce Holdings
  • Volvo Penta
  • Wartsila
  • Weichai Power
  • Yanmar Holdings

For more information about this report visit https://www.researchandmarkets.com/r/jzw3rg

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