Transportation Segment to Dominate SAM Small ICE Market during 2019–2027

According to a new market research study on “SAM Small ICE Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Fuel Type, Cylinders, Power Output Range and End User,” is expected to reach US$ 393.95 million by 2027 from US$ 296.14 million in 2020. The market is estimated to grow at a CAGR of 4.2% from 2020 to 2027. The report provides trends prevailing in the SAM small ice market along with the drivers and restraints pertaining to the market growth. Fusion of Turbocharging and Remote Monitoring are the major factor driving the growth of the SAM small ice market. However, issues associated with the Increasing Toward Electric Energy over Fossil Fuels hinder the growth of SAM Small Internal Combustion Engine (ICE) Market

Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, and Argentina, among others. The government of South American countries has taken an array of actions to protect its citizens and contain COVID-19’s spread. The containment protocols have been implemented for the manufacturing and transportation sector to ensure the safety of workers. However, some of the new protocols and restrictions require manufacturing and transportation to continue if the project is considered critical. For instance, in Panama, the president placed an executive mandate to stop all construction for 30 days. In Chile, CODELCO stopped all projects and started reviewing all manufacturing contracts individually to identify the next steps to follow. The coronavirus spread has resulted in the slowdown of the region's manufacturing and transportation industry, which has negatively affected the growth of small ICE in the region.

The SAM small ice market is segmented based on fuel type, cylinders, power output, end-use industry, and country. Based on fuel type, the market is segmented into gasoline, diesel, and Gas. The gasoline segment is further sub segmented into compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1–5 kW, 6–10 kW, and 11–20 kW. In terms of end-use industry, the market is segmented into power generation, manufacturing, oil and gas, transportation, and others.

Caterpillar Inc., Kawasaki Heavy Industries, Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD., Cummins, Inc, INNIO, Wärtsilä Corporation, Rolls-Royce Holdings plc are among the leading companies in SAM small ice 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, INNIO announces that the acquisition of ECI-Distribution GmbH and PowerUp GmbH, announced on November 4, 2020, has been completed effective December 1, 2020. The energy technology company ECI-Distribution GmbH, which was acquired by INNIO, covers numerous parts of the gas engine value chain. They produce state-of-the-art components for reducing emissions and increasing the efficiency of gas engines. Founded in 2014, the company also has a worldwide distribution network

The report segments the SAM Small ICE Market as follows:

Small ICE Market – By Fuel Type

• Gasoline
• Diesel
• Gas

Small ICE Market – By Gas Type

• CNG
• LPG
• LNG

Small ICE Market – By Cylinder

• 1
• 2
• 3
• 4

Small ICE Market – By Power Output

• 1-5 kW
•  6-10 kW
• 11-20 kW

Small ICE Market – By End-Use Industry

• Power Generation
• Manufacturing
• Oil and Gas
• Transportation
• Others

Small ICE Market – By Country

• Brazil
• Argentina
• Rest of SAM