Report : Europe Engine Stand Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Gasoline Engine Stand and Diesel Engine Stand), and Application (Automotive, Aircraft, and Others)
Aircraft Segment to Dominate Europe Engine Stand Market during 2019–2027
According to a new market research study on “Europe Engine Stand Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, and Application” is expected to reach US$ 195.07 million by 2027 from US$ 145.96 million in 2019. The market is estimated to grow at a CAGR of 4.3% from 2020 to 2027. The report provides trends prevailing in the Europe engine stand market along with the drivers and restraints pertaining to the market growth. Surge in aircraft delivery orders is the major factor driving the growth of the Europe engine stand market. However, long life of engine stands hinders the growth of Europe engine stand market.
The Europe engine stand market has been segmented into product type, and application. Based on product type, the Normal America engine stand market is segmented into gasoline engine stand, diesel engine stands. Gasoline engine stand segment held a substantial market share in 2019. Based on application, the Normal America engine stand market is segmented into automotive, aircraft, others. Aircraft segment held a substantial market share in 2019.
The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, the UK, and others have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. To protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Businesses across Europe have shifted from traditional to online businesses in order to carry on with their financial activities during the corona virus outbreak. High adoption of work from home culture across the region owing to the nationwide lockdown has reduced the demand for power, and transportation facilities across the country especially from the commercial sector, thereby affected the automotive, aircraft and power sector adversely across the region. On the other hand, the shutdown of manufacturing plants coupled with the adverse impact on logistics and supply chain in the area is also expected to impact the production and distribution process of the same. Thus, the above-mentioned factors indicate that the European engine stand market has been negatively impacted owing to the pandemic.
AGSE LLC; DAE Industries; DEDIENNE AEROSPACE; Frank Brown & Son Ltd; HYDRO SYSTEMS KG; Mahle GmbH; and The Brixworth Engineering Co Ltd among the leading companies in the Europe engine stand market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, The expertise of Rolls Royce has given an award to HYDRO by presenting their performance and significance in delivering aircraft engines of Rolls Royce.
The report segments the Europe Engine Stand Market follows:
Europe Engine Stand Market – By Product Type
- Gasoline Engine Stand
- Diesel Engine Stand
Europe Engine Stand Market – By Application
Europe Engine Stand Market – By Country
- Rest of Europe
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