North America Small Internal Combustion Engine (ICE) Market Forecast to 2027 – COVID-19 Impact and Analysis - by Fuel Type (Gasoline, Diesel, and Gas), Cylinders (1, 2, 3, and 4), Power Output (1-5 kW, 6-10 kW, and 11-20 kW), and End-Use Industry (Power Generation, Manufacturing, Oil and Gas, Transportation, and Others)
Market Introduction
The US, Canada, and Mexico are the major economies in North America. Technological advancements have led to a highly competitive market in the region as population get attracted to several technological developments owing to high spending powers. With increasing adoption of passenger vehicles, the automotive industry is constantly blooming in the region. Lawn and garden equipment, and other power equipment have found a wide user base in North America. The small IC engine enables manufacturers to offer small form factor machine or tools, such as compact car, lawn cutters, and advanced small generators. In addition, the rising adoption of the natural gases is creating ample opportunities for the market players to develop advanced small engine with strong power output and efficiency. The market players in automotive industry are investing huge amount of capital for the development of advanced engines. For instance, Ford Motor Co. has announced the investment of US$ 11 billion for the development of hybrid engines by 2022. The company is developing new engines powered by electric and fossil fuel energy. The company is downsizing their current engines to reduce size and weight, which is a positive sign for the market growth. Consumption of electric car in North America is rising owing to supporting policies and infrastructure which are major supporting factor for the region. Further, residential and small industrial users demand for small engines is supposed be to see declining growth owing to rising adoption electric motors. Such increasing demand for electric motors is replacing the IC engines in varied application, which is likely to hamper the market growth in the North America region. As region holds strong economic position and high disposable income per capita, the consumption of electric solution is expected to increase, which, in turn will have negative impact on the small IC engine market growth during the forecast period.
In the North American region, a slight decline in the demand for small ICE was witnessed owing to a halt in the construction, manufacturing, transportation and oil & gas industry. In Canada, construction and manufacturing projects deemed nonessential were shut down, and the essential projects are subject to public health guidelines. However, positive demand from power distribution as well as energy & infrastructures, particularly in on-shore wind, were noticed. Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for renewable energy projects. In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including renewable energy. The renewable energy industry in the US, including wind and solar power, has witnessed growth during the COVID-19 epidemic so far. Furthermore, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for small ICE used in infrastructure projects
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Market Overview and Dynamics
The small ice market in North America is expected to grow from US$ 822.68 million in 2020 to US$ 1175.51 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. Increasing Consumption of Combustion Engines in Developing Countries Developing countries, such as India, China, and Brazil, are more dependent on fossil fuels for electricity, automotive, manufacturing, transportation, and other sectors. Rise in population and the lack of supporting infrastructure for electric technologies are the major factors supporting the small internal combustion engine market. Electric motors, electric power sourced devices, and cars are still more expensive for customers over internal combustion engines. As a result, owing price constraint countries are not implementing any ban for internal combustion engines, which is supporting the market growth. Though the emission norms are getting improved for small IC engines for which manufacturers are enhancing the solution. According to The World Bank Group data for access to electricity, in South Asia around 91.6% of population has access to electricity. Further, consumption of electricity for basic uses in countries—such as China and India—is increasing with rising population, owing to which countries are using fossil fuels to generate electricity. Such strong dominance of internal combustion engines in developing countries is creating opportunity for the market to offer advanced solutions. For instance, according to the Bosch Ltd company, 80% or more vehicles sold in India by 2030 would still be powered by internal combustion engines. Developing countries’ dependency on fossil fuels and internal combustion engines is a strong growth opportunity for the market.. This is bolstering the growth of the small ice market.
Key Market Segments
In terms of fuel type, the Gasoline segment accounted for the largest share of the North America small ice market in 2019. In terms of gas type, the CNG segment held a larger market share of the small ice market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America small ice market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report
Reasons to buy report
- To understand the North America small ice market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America small ice market
- Efficiently plan M&A and partnership deals in North America small ice market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America small ice market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America Small ICE Market Segmentation
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
- United States
- Canada
- Mexico
Small ICE Market -Companies Mentioned
- Caterpillar Inc.
- Kawasaki Heavy Industries, Ltd.
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Liebherr
- YANMAR HOLDINGS CO., LTD.
- Cummins, Inc
- Fairbanks Morse
- INNIO
- Wärtsilä Corporation
- Rolls-Royce Holdings plc
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.1 Ecosystem Analysis
4.2 Expert Opinion
5. North America Small Internal Combustion Engine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Emission Norms Creating Demand for Efficient Fuel Engines
5.1.2 Increase in Adoption of Small Off-Road Internal Combustion Engines
5.2 Market Restraints
5.2.1 Inclination Toward Electric Energy over Fossil Fuels
5.3 Market Opportunities
5.3.1 Increasing Consumption of Combustion Engines in Developing Countries
5.4 Future Trends
5.4.1 Integration of Turbocharging and Remote Monitoring
5.5 Impact Analysis of Drivers and Restraints
6. Small Internal Combustion Engine Market – North America Analysis
6.1 North America Small Internal Combustion Engine Market Overview
6.2 North America Small Internal Combustion Engine Market Revenue Forecast and Analysis
7. North America Small Internal Combustion Engine Market Analysis 2027 – by Fuel Type
7.1 Overview
7.2 North America Small Internal Combustion Engine Market Breakdown, by Fuel Type (2019 and 2027)
7.3 Gasoline
7.3.1 Overview
7.3.2 Gasoline Market Forecast and Analysis
7.4 Diesel
7.4.1 Overview
7.4.2 Diesel Market Forecast and Analysis
7.5 Gas
7.5.1 Overview
7.5.2 Gas Market Forecast and Analysis
7.5.3 Compressed Natural Gas (CNG)
7.5.3.1 Overview
7.5.3.2 Compressed Natural Gas (CNG): Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
7.5.4 Liquefied Petroleum Gas (LPG)
7.5.4.1 Overview
7.5.4.2 Liquefied Petroleum Gas (LPG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
7.5.5 Liquefied Natural Gas (LNG)
7.5.5.1 Overview
7.5.5.2 Liquefied Natural Gas (LNG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Small Internal Combustion Engine Market Analysis 2027– By Cylinders
8.1 Overview
8.2 North America Small Internal Combustion Engine Market Breakdown, by Cylinder, 2019 and 2027
8.3 1
8.3.1 Overview
8.3.2 1 Market Forecast and Analysis
8.4 2
8.4.1 Overview
8.4.2 2 Market Forecast and Analysis
8.5 3
8.5.1 Overview
8.5.2 3 Market Forecast and Analysis
8.6 4
8.6.1 Overview
8.6.2 4 Market Forecast and Analysis
9. North America Small Internal Combustion Engine Market Analysis 2027 – by Power Output
9.1 Overview
9.2 North America Small Internal Combustion Engine Market Breakdown, by Power Output, 2019 & 2027
9.3 1–5 kW
9.3.1 Overview
9.3.2 1–5 kW Market Forecast and Analysis
9.4 6–10 kW
9.4.1 Overview
9.4.2 6–10 kW Market Forecast and Analysis
9.5–20 kW
9.5.1 Overview
9.5.2–20 kW Market Forecast and Analysis
10. North America Small Internal Combustion Engine Market Analysis 2027– By End User
10.1 Overview
10.2 North America Small Internal Combustion Engine Market Breakdown, By End User, 2019 and 2027
10.3 Power Generation
10.3.1 Overview
10.3.2 Power Generation Market Forecast and Analysis
10.4 Manufacturing
10.4.1 Overview
10.4.2 Manufacturing Market Forecast and Analysis
10.5 Oil & Gas
10.5.1 Overview
10.5.2 Oil and Gas Market Forecast and Analysis
10.6 Transportation
10.6.1 Overview
10.6.2 Transportation Market Forecast and Analysis
10.7 Others
10.7.1 Overview
10.7.2 Others Market Forecast and Analysis
11. North America Small Internal Combustion Engine Market – Country Analysis
11.1 Overview
11.1.1 North America: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2 North America: Small Internal Combustion Engine Market, by Key Country
11.1.2.1 US: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.1.1 US: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.1.1.1 US: Small Internal Combustion Engine Market, by Gas
11.1.2.1.2 US: Small Internal Combustion Engine Market, by Cylinders
11.1.2.1.3 US: Small Internal Combustion Engine Market, by Power Output
11.1.2.1.4 US: Small Internal Combustion Engine Market, by End User Industry
11.1.2.2 Canada: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.2.1 Canada: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.2.1.1 Canada: Small Internal Combustion Engine Market, by Gas
11.1.2.2.2 Canada: Small Internal Combustion Engine Market, by Cylinders
11.1.2.2.3 Canada: Small Internal Combustion Engine Market, by Power Output
11.1.2.2.4 Canada: Small Internal Combustion Engine Market, by End User Industry
11.1.2.3 Mexico: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.3.1 Mexico: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.3.1.1 Mexico: Small Internal Combustion Engine Market, by Gas
11.1.2.3.2 Mexico: Small Internal Combustion Engine Market, by Cylinders
11.1.2.3.3 Mexico: Small Internal Combustion Engine Market, by Power Output
11.1.2.3.4 Mexico: Small Internal Combustion Engine Market, by End User Industry
12. Impact of COVID-19 Pandemic on North America Small ICE Market
12.1 Impact of COVID-19 Pandemic On North America ICE Market
12.1.1 North America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Merger and Acquisition
13.2 New Development
14. Company Profiles
14.1 Caterpillar Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Kawasaki Heavy Industries, Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 MITSUBISHI HEAVY INDUSTRIES, LTD
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Liebherr
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Financial Overview
14.4.4 SWOT Analysis
14.4.5 Key Developments
14.5 YANMAR HOLDINGS CO., LTD.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Cummins, Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Fairbanks Morse
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 INNIO
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Wärtsilä Corporation
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Rolls-Royce Holdings plc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Small Internal Combustion Engine Market Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Small Internal Combustion Engine Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 7. US: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 11. Canada: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 12. Canada: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 14. Mexico: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 15. Mexico: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 16. Mexico: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 17. Mexico: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 18. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Small ICE Market Segmentation
Figure 2. North America Small ICE Market Segmentation – By Country
Figure 3. North America Small ICE Market Overview
Figure 4. Gasoline Segment Held the Largest Share During Forecast Period
Figure 5. CNG Gas Type Segment Dominated the Gas Segment
Figure 6. 1 Cylinder ICE Dominated the Market
Figure 7.-20 kW ICE Dominated the Market
Figure 8. North America Small ICE Market, Country Analysis
Figure 9. North America: PEST Analysis
Figure 10. Small Internal Combustion Engine Market- Ecosystem Analysis
Figure 11. Expert Opinion
Figure 12. Small Internal Combustion Engine Market Impact Analysis of Drivers and Restraints
Figure 13. North America Small Internal Combustion Engine Market Revenue Forecast and Analysis (US$ Million)
Figure 14. North America Small Internal Combustion Engine Market Breakdown, by Fuel Type, 2019 & 2027 (%)
Figure 15. Gasoline Market Revenue and Forecast to 2027 (US$ Million)
Figure 16. Diesel Market Revenue and Forecast to 2027 (US$ Million)
Figure 17. Gas Market Revenue and Forecast to 2027 (US$ Million)
Figure 18. Compressed Natural Gas (CNG): Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Liquefied Petroleum Gas (LPG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Liquefied Natural Gas (LNG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Small Internal Combustion Engine Market Breakdown, By Cylinder Count, 2019 and 2027 (%)
Figure 22. 1 Market Revenue and Forecast to 2027 (US$ Million)
Figure 23. 2 Market Revenue and Forecast to 2027 (US$ Million)
Figure 24. 3 Market Revenue and Forecast to 2027 (US$ Million)
Figure 25. 4 Market Revenue and Forecast to 2027 (US$ Million)
Figure 26. North America Small Internal Combustion Engine Market Breakdown, by Power Output, 2019 & 2027 (%)
Figure 27. 1–5 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 28. 6–10 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 29.–20 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 30. North America Small Internal Combustion Engine Market Breakdown, By End User, 2019 and 2027 (%)
Figure 31. Power Generation Market Revenue and Forecast to 2027 (US$ Million)
Figure 32. Manufacturing Market Revenue and Forecast to 2027 (US$ Million)
Figure 33. Oil and Gas Market Revenue and Forecast to 2027 (US$ Million)
Figure 34. Transportation Market Revenue and Forecast to 2027 (US$ Million)
Figure 35. Others Market Revenue and Forecast to 2027 (US$ Million)
Figure 36. North America: Small Internal Combustion Engine Market – Revenue by Country to 2027 (US$ Million)
Figure 37. North America: Small Internal Combustion Engine Market Revenue Share, by Key Country (2019 and 2027)
Figure 38. US: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Canada: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Mexico: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Impact of COVID-19 Pandemic in North American Country Markets
- Caterpillar Inc.
- Cummins, Inc
- Fairbanks Morse
- INNIO
- Kawasaki Heavy Industries, Ltd.
- Liebherr
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Rolls-Royce Holdings plc
- Wärtsilä Corporation
- YANMAR HOLDINGS CO., LTD.
- To understand the North America small ice market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America small ice market
- Efficiently plan M&A and partnership deals in North America small ice market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America small ice market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.