According to the new market research report “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″, published by MarketsandMarkets™, 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.
Above 1800 rpm is expected to be the fastest growing High-Speed Engine Market
The market for high-speed engines of above 1800 rpm is expected to be the fastest during the forecast period. High-speed engines are efficient and economical due to which the adoption of these engines for power outputs below 2 MW is expected to increase. This increased adoption is expected to be the major factor for growth in this area.
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Power Generation segment is expected to capture the major share of the High-Speed Engine Market
Power Generation segment by end user is expected to be the largest segment during forecast period. The power generation segment is projected to lead the High-Speed Engine Market during the forecast period. High-speed engines are commonly used for backup power solutions. 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. Increased demand for continuous and reliable power to meet the growing energy demand is the major factor for the largest market share of the power generation segment.
Asia Pacific is expected to dominate the global High-Speed Engine Market
Rising demand for high-speed engines in China, and India are expected to drive the High-Speed Engine Market in Asia Pacific. Increasing electricity demand and industrialization projects in countries such as China, India, and Japan are the main reasons spurring the growth of the high-speed engine market in the region. According to Asia Pacific Economic Cooperation Forum’s Energy Demand and Supply Outlook, energy demand in APAC is expected to grow by 21% to reach 6,562 Mtoe in 2050 due to the population growth in Southeast Asia. Thriving manufacturing sector in this region is expected to creaste demand for backup power solutions thereby contributing to demand for high-speed engines.
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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the High-Speed Engine Market such as Caterpillar (US), Cummins (US), Rolls Royce Holdings (UK), Volvo Penta (Sweden), and MAN SE (Germany) along with other prominent manufacturers of high-speed engine.
