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High-Speed Engine Market worth $29.9 Billion by 2028

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High-Speed Engine Market worth $29.9 Billion by 2028

February 24
03:01 2023
High-Speed Engine Market worth $29.9 Billion by 2028
The global high-speed engine market is expected to grow from an estimated USD 23.6 billion in 2022 to USD 29.9 billion by 2028, at a CAGR of 4.0% during the forecast period.

The global High-Speed Engine Market is projected to reach USD 29.9 billion in 2028 from USD 23.6 billion in 2022 at a CAGR of 4.0% according to a new report by MarketsandMarkets™. Rising demand for reliable and uninterrupted power, growth in maritime tourism and international marine freight transport, and increasing urbanization and industrialization are amongst the major drivers of the High-Speed Engine Markets.

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1000–1500 rpm is expected to hold the largest share of the High-Speed Engine Market, by speed

The market for high-speed engines in the 1000–1500 rpm range is expected to be the largest during the forecast period. Power generation and marine end users are the major consumers for high-speed engines in this speed range. In marine, these engines are suitable for propelling workboats, fishing vessels, fast commercial craft, and patrol boats. In power generation, they are primarily utilized for standby power generation as well as prime power generation in large industrial plants. Increased demand from utility-scale projects in developing countries is expected to drive the growth of this segment during the forecast period.

By end user, power generation is expected to be the fastest growing segment of the High-Speed Engine Market during the forecast period

The power generation segment, by end user, is expected to grow at the highest CAGR from 2022 to 2028. The power generated by renewable sources is often intermittent and non-dispatchable. High-speed engines complement the power generated from renewable sources by ensuring the continuity of power supply. solutions in developing economies. The demand for high-speed engines for power generation from industrial companies, IPPs, and utilities is increasing as result, driving the fast growth of the power generation segment.

Asia Pacific is expected to dominate the High-Speed Engine Market

Rising demand for high-speed engines in rapidly growing economies like China and India is expected to drive the High-Speed Engine Market in the region. Moreover, increasing electricity demand due to population rise and industrialization is spurring the growth of the High-Speed Engine Market in the region. The region also has a large and thriving manufacturing sector which is contributing to the demand for high-speed engines.

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Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Cummins (US), Rolls Royce Holdings (UK), Volvo Penta (Sweden), Caterpillar (US), and MAN Energy Solutions (Germany) along with other prominent manufacturers of high-speed engines.

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Email: [email protected]

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