High Speed Engine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Growing demand for reliable power backup supply is growing the adoption of high speed engine. For utilization as an emergency power supply in case of power outrage or voltage fluctuations, the demand of high speed engines remain lucrative. Better fuel efficiencies, low maintenance cost, low initial cost are the major factors that may increase the boost of high speed engines.
Applications of high speed engines include marine transport. According to International chamber of Shipping (UK), approximately 90% of transport in the country is carried out by sea. Thus, the demand of these engines is high in the region. As the export of goods increases, demand for container ships in other regions for transportation may also increase the sales of speed engine.
Fuel-efficiency of High Speed Engines Boosting Adoption
Demand of economically viable engines, which are reliable, durable and also are fuel efficient may also contribute towards the growth. Fuel efficiency is a major concern in developing as well as developed countries, thus emphasis in development of reducing carbon emissions is a key growth prospect. High speed engine with speed of 900 to 1200 revolutions per minute can save fuel up to 10-15% as compared to low speed engines with 80-120 revolutions per minute with fuel efficiency of 8%, the demand for high speed engines may remain lucrative.
Stern Regulations on Environment by Government
Environmental impact due to growing automobiles has been the concern since years and that’s why government in various countries are issuing guidelines to combat the scaling pollution. For instance,
Under the new PM’s green plan, UK government has announced ban on new petrol and diesel cars from 2030. The regulation is made to tackle climatic change and create jobs in nuclear industries. Such regulations due to environmental effects may hamper the growth of the market in long run.
As per Clean Air Act by USA, there are limits set by USEPA to regulate air emissions from stationary and mobile sources. The policies made in the act to reduce air pollution could reduce the sales in high speed engine market.
In India also, 18% of total energy consumption is due to the transport sector. Investments in electric cars by the government and multiple initiatives are being undertaken to promote electric vehicles, which can directly or indirectly effect the traditional speed engine market.
All these factors may act as restraints to the adoption of high speed engine market.
Fluctuating Raw Material Prices
Due to economy downfall in mid 2020 owing to covid-19 pandemic led markets to be in uncertainty about the prices of petrol and diesel. Fluctuating prices may restrain the market growth for short term as per the economical growth. During covid-19 price of oil declined by 50-70% due to ban on every non-essential thing, the price of oil in March 2020 went down to nearly 30$ US per barrel is increased up to 68.34$ US in 2021. However as the economy takes is pace, the oil prices naturally start to increase bringing the manufacturers in uncertainty regarding it which may eventually have a negative impact on the adoption of high speed engine.
Prominent players focussing on growth include Hyundi Heavy Industries, CSSC-MES Diesel Co. Ltd., Hudong Heavy Machinery Co., Ltd., Jiandsu Antai Power Machinery Co., Ltd., Yuchai Marine Power Co., Ltd, YANMAR, CFM International, GE Aviation, PRATT & WHITNEY, ROLLS-ROYCE, DESA Company, Doosan Group, Cooper Industries, Chrysler, Gale Products, Honda Marine, Kelvin Diesels, Lamborghini, Oceanvolt, etc. The companies are focussed in manufacturing and merging with other industries for latest innovations. For instance,
Elan has recently announced its partnership with Oceanvolt on February 2021 to offer a full range of Yachts with Electric Propulsion. The system is a fully electric yacht i.e. no noise, no exhaust, no smell and no environmental restrictions. It enables sailing without use of fossil fuels. The electric yacht can be used in pure emergency too as there is no pre start waiting and no engine rev settling. Oceanvolt’s hydrogenation generates power for recharging the battery bank.
Again in June 2020, Oceanvolt launched a Spirit65 DH (Deck House) designed for cruising in the UK, Mediterranean and Caribbean Sea. The 65DH has a Bermudan sloop rig with carbon spars, nitonic rod rigging and 4T FORTE recyclable sails from oneSails. The yacht has a eco feature and also include twin Oceanvolt variable Pitch saildrives which will regenerate 21kW Lithium Valance batteries. Technology used in the Electric spirit 65DH sailboat include electric motor system having voltage 48V, backup generator 18kW, draft 2.8m, beam 4.3m, etc.
Furthermore, In December 2020, GE Aviation’s digital group joined GE Digital (GE’s software business). The company aims to feature digital solutions for addressing flight safety, fuel, asset records, and network operations for commercial airlines and business jet operators, to securely convert data into insights. The solutions enable the aircraft operators to increase aircraft readiness, decrease sustainment cycle time and lower sustainment costs.
Asia Pacific is expected to be the largest region for speed engine market during the forecast period. Rising investments in ship building and commercial transport are the key growth prospect. Rising demand in productivity and growth, rapid industrialization, e.g. HIMONISA has also increased its sales in Asia Pacific in the past decade and is expected to surge more during the forecast period.
US have been the largest automotive markets in the world since many years but in start of the pandemic, the sales witnessed a downfall. But with the year passing, the sales turned out to be moderate. As per the press release, General Motors witnessed 4.8% increase in sales while Toyota Motors also closed the year with almost 9.5% rise. Manufacturers are predicting a better 2021 in terms of sales in automotive sector.
In Europe, car production fell even below 2009 financial crisis. The market is still witnessing downfall. As per Automotive News Europe, UK sales plunges 36% last month. Ford remained the country’s most popular brand despite 36% decline in sales. The sales in Spain, Germany, Italy and France also saw backdrop of 38%, 19%, 12% and 21% owing to covid-19 slump. However, focus on R&D sales, marketing, and logistics and incentives in Italy and other European countries remained key strengths for boosting the sales in future.
Brazil car production also fell by almost 1.3% in February. In 2020 also, the market witnessed one-third drop of sales as compared to previous year due to covid-19. According to the surveys and press releases, the Brazil automotive sector will take some time to come back to previous pace.
Based on Power Range
Based on Type
Based on Engine
Based on Fuel
Based on Region
China, US, India, and EU3 are among the most lucrative regions for high speed engine.
Jiandsu Antai Power Machinery Co., Ltd., Yuchai Marine Power Co., Ltd, YANMAR, CFM International, GE Aviation, PRATT & WHITNEY, ROLLS-ROYCE, DESA, etc. are among the prominent high speed engine market players.
Two stroke and four stroke. Two stroke engine completes a power cycle with two strokes of piston contrary to four stroke which require four strokes to complete.
High speed engines are useful in operating modes with a high percentage of low loads.
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