Heavy Duty Engines Market to Record CAGR of 5.9% By 2027

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Heavy Duty Engines Market Growth Analysis
Forecast Report 2022-2027
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• Industry Insights

• A research study conducted by Global Market
  Insights Inc. suggests that heavy duty engines
  market is likely to exceed the 65 billion mark
  by 2027, in terms of revenue.
• The heavy duty engines market is expected to
  register robust growth by 2027 owing to surging
  demand for heavy duty vehicles in oil gas,
  construction, and mining sectors.
• Heavy duty engines are the source of primary
  propulsion for heavy duty vehicles, including
  long-haul trucks and buses. Stringent regulations
  pertaining to greenhouse gas emissions and fuel
  economy have stimulated increasing technological
  advancements in the market. Prominent engine
  manufacturers around the world have also
  undertaken various RD activities to design
  fuel-efficient heavy duty engines that release
  low emissions, which has bolstered product uptake
  in recent years.

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• Moreover, to monetize emerging market trends,
  industry players are adopting lucrative
  strategies to gain a competitive edge in the
  market, which has positively impacted the overall
  business landscape. For instance, in September
  2021, Cummins, Inc., a leading multinational
  corporation specializing in alternative and
  diesel fuel engines, announced the commencement
  of the development of its medium-duty and heavy
  duty hydrogen-fueled internal combustion engine
  as part of its H2-ICE program.
• The company intended to leverage its expertise in
  gaseous-fueled technologies to develop 6.7-liter
  hydrogen-fueled engine for medium-duty vehicles,
  including excavators and bus, as well as a
  15-liter hydrogen gas-fueled engine for heavy
  duty long-haul trucks.
• The heavy duty engines market has been bifurcated
  on the basis of horsepower, vehicle class, end
  user, and region. In terms of horsepower, the
  market has further been divided into below 400HP,
  400HP - 500HP, 500HP - 600HP, and above 600HP.
  The above 600HP sub-segment is projected to
  witness notable growth by 2027, expanding at a
  CAGR of around 6 over the analysis period.

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• Regional Analysis

• From the regional point of view, the Europe heavy
  duty engines market is anticipated to gain
  significant traction by 2027, progressing at a
  CAGR of approximately 5.5 through the forecast
  timeline.

• Competitive Analysis

• Caterpillar
• Cummins
• Detroit Diesel
• Hino
• Navistar
• Mack
• Mercedes-Benz
• PACCAR
• Volvo Truck.

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