CHICAGO, UNITED STATES, July 6, 2023/EINPresswire.com/ -- 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐄𝐧𝐠𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 generated revenue of𝐔𝐒$ 𝟑𝟐,𝟒𝟑𝟗.𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 and is anticipated to reach a valuation of over 𝐔𝐒$ 𝟓𝟐,𝟒𝟖𝟎.𝟔 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏 at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟕% during the forecast period from 2023 to 2031.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/asia-pacific-industrial-engines-market

Due to the constantly expanding industrial sector and rising demand for power generation equipment, the industrial engine market in the Asia Pacific has enormous potential. In the upcoming years, the market is anticipated to experience significant growth, propelled by factors like urbanization, the expansion of infrastructure, and a shift toward cleaner and more effective technologies. Additionally, the growing emphasis on renewable energy sources will open up new prospects for market participants.

Governments in the Asia-Pacific region have implemented stronger emission limits and restrictions owing to the increased attention being paid to climate change and the need for more sustainable technologies. For instance, to lower the emission levels of diesel engines, China implemented the China VI emission regulations, which are similar to the Euro VI standards. In order to reduce vehicular pollution, India jumped from BS IV to BS VI emission standards in 2020.

By 2027, the green technologies market revenue will reach US$ 60 billion, growing at a CAGR of 27.6%. Companies are spending more funds on research and development of cleaner and more effective industrial engines in an effort to take advantage of this expansion. For instance, Cummins said in 2020 that it would invest US$ 500 million over three years in electrified power solutions for the Asia Pacific industrial engine market.

Rapid urbanization is taking place in the Asia-Pacific region, where 64% of the region's population, or 3.5 billion people will live in cities by 2050. As a result of this growth, governments are making significant investments in infrastructure development projects.

The Asian Development Bank estimates that from 2016 to 2030, the Asia-Pacific region will need to invest almost US$ 26 trillion in infrastructure. Governments in the region have started several development initiatives, including the Belt and Road Initiative from China, the Smart Cities Mission from India, and the National Medium-Term Development Plan from Indonesia.

𝐃𝐢𝐞𝐬𝐞𝐥 𝐄𝐧𝐠𝐢𝐧𝐞𝐬 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐒𝐚𝐥𝐞𝐬 𝐨𝐟 𝟔𝟑% 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐄𝐧𝐠𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐀𝐏𝐀𝐂

The region's rising industrialization, urbanization, and infrastructural development are likely to propel the market. With more than 63% of the market's overall sales, diesel engines have emerged as the region's most popular option for industrial applications. Diesel engines' success across various industries can be due to their effectiveness, toughness, and dependability.

According to Astute Analytica, there are considerable prospects for the industrial engine market to grow due to the continued development of innovative diesel engine technologies, including clean diesel and hybrid diesel systems. These advancements may help diesel engines use less fuel and emit fewer pollutants, which will increase their appeal for industrial applications.

𝐂𝐡𝐢𝐧𝐚 𝐭𝐨 𝐀𝐭𝐭𝐚𝐢𝐧 𝟑𝟐% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐡𝐚𝐫𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

The second-largest economy in the world, China, has seen a remarkable industrial expansion in recent years. It is the biggest market in the Asia-Pacific region, and projections indicate that by 2031, its market share will have increased from 27% to 32%. The rising usage of industrial engines in numerous sectors, including agriculture, construction, power production, mining, oil and gas, rail, and transportation, is expected to support the region's economy. The demand for efficient and dependable power sources is likely to rise as these sectors continue to expand and develop, which will further propel the expansion of the industrial engine market in the Asia-Pacific region.

China's industrial sector has been expanding at a remarkable rate, with its GDP contributing about 28.1% to world GDP in 2021. Industrial engines are now more in demand than ever across several industries, including manufacturing, construction, and agriculture. The pattern is likely to persist, boosting the nation's market share for industrial engines.

China is the greatest manufacturing hub in the world, producing 28% of all manufactured goods in 2021. The industrial engine market has a lot of potential owing to the manufacturing sector's dominance to power the machinery and equipment used in many other sectors, including the automotive, electronics, and heavy machinery industries.

𝐓𝐨𝐩 𝟓 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐭𝐨 𝐀𝐭𝐭𝐚𝐢𝐧 𝟓𝟐% 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞

Recent years have seen substantial expansion in the Asia-Pacific region, which has been fueled by quickening urbanization, industrialization, and infrastructure growth. This market is home to numerous businesses that provide a variety of goods and services. The top five companies hold a combined market share of almost 52%. This research thoroughly analyzes the market's competitive landscape with a focus on the major players, their business models, and market trends.

According to Astute Analytica, the top players in the Asia Pacific industrial engine market include both local and small-scale players. Among these Cummins, Hyundai, CNH Industrial, and Ingersoll Rand are leading the market with a share of 15.4%, 12.5%, 10.1%, and 8.3%.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/asia-pacific-industrial-engines-market

Cummins Inc. is an American multinational firm that develops, produces, and sells products for power generation, filtration, and engines. Additionally, Cummins provides maintenance for engines and associated machinery, such as vehicles, fuel systems, controls, air handling, filtration, and pollution control.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• Caterpillar (engines) USA
• Changchai Co., Ltd.
• Chongqing Fuchai Industry Group
• CNH Industrial
• Cummins
• DAIHATSU DIESEL MFG. CO., LTD.
• Fuzhou Launtop M&E Co., Ltd.
• Honda Motor Co., Ltd
• Hyundai
• Ingersoll Rand
• JEEMAR POWER CO., LTD
• Kawasaki Heavy Industries, Ltd.
• Kirloskar
• Kohler Co.
• Lifan Power USA
• Loncin Motor Co., Ltd.
• Mitsubishi
• Motorenfabrik Hatz GmbH & Co. KG
• SIEMENS Energy
• Shanghai Diesel Engine Co., Ltd.
• Other prominent players

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞

𝐓𝐡𝐞 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐞𝐧𝐠𝐢𝐧𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐅𝐮𝐞𝐥 𝐓𝐲𝐩𝐞, 𝐄𝐧𝐠𝐢𝐧𝐞 𝐓𝐲𝐩𝐞, 𝐂𝐨𝐨𝐥𝐢𝐧𝐠, 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧, 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥, 𝐄𝐧𝐝 𝐔𝐬𝐞, 𝐚𝐧𝐝 𝐂𝐨𝐮𝐧𝐭𝐫𝐲.

𝐁𝐲 𝐅𝐮𝐞𝐥 𝐓𝐲𝐩𝐞
• Weather Based Diesel
• Gasoline
• Natural Gas
𝐁𝐲 𝐄𝐧𝐠𝐢𝐧𝐞 𝐓𝐲𝐩𝐞
• 50HP-500HP
• 500HP-10,000HP
• Above 10,000HP
𝐁𝐲 𝐂𝐨𝐨𝐥𝐢𝐧𝐠
• Air Cooled
• Water Cooled
𝐁𝐲 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧
• 2 Stroke
• 4 Stroke
𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥
• Aftermarkets
• OEMs
𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞
• Power Generation
• General Manufacturing
• Oil & Gas
• Marine
• Agriculture/Off-road vehicles
• Construction
• Mining & Metallurgy
• Others
𝐁𝐲 𝐂𝐨𝐮𝐧𝐭𝐫𝐲
• China
• India
• Japan
• Australia & New Zealand
• South Korea
• ASEAN
o Singapore
o Philippines
o Vietnam
o Indonesia
o Malaysia
• Rest of Asia Pacific

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/asia-pacific-industrial-engines-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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