Asia Pacific Engine Stand Market
The presence of emerging economies and rise in the adoption of innovative, as well as advanced, technologies are among the factors contributing to the overall development of APAC. The engine stand market in APAC is sub segmented into Australia, China, Japan, India, South Korea, and the Rest of APAC. Rapid industrialization and urbanization across the countries in the region are creating high demand for passenger vehicles and commercial vehicles, energy, and power, thereby fueling the adoption of engine stands in the automotive and energy & power sectors. Australia, China, and India have experienced a rise in the number of local engine stand manufacturers in the last few years. For instance, BURG DESIGN (Aust) PTY LTD offers safe engine stands with strong construction, suitable to undergo toughest work. Kincrome Australia Pty Ltd offers engine stands specially designed for heavy engines. The company’s products are well-suited for trade workshops applications as well as for mounting popular motors such as 4-, 6-, and 8-cylinder motors. Hangzhou Omega Machinery Co., Ltd. (China) designs and manufactures engine stands with maximum durability and 360-degree rotational capabilities for positioning engines with ease. Additionally, the increasing use of diesel and gasoline, as automotive fuel types, across developing countries such as China and India are also expected to propel the adoption of diesel engine stands and gasoline engine stands in the region.
Because of a massive number of cases in China and India, the APAC region is greatly affected by COVID-19, the country also homes the largest population across the world, thereby imposing greater risk of many individuals; it is also a world leader of many brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as India, Australia and Japan, and the region is thus experiencing a downward inflation. The sudden closedown of all economic activities which includes manufacturing plants of both essential products and luxurious items has impacted the overall economy of the countries in the region. China being the manufacturing hub of the world has many major players and distributers located in the country. The temporary shutdown of supply chain to manufacturers of the engine stand is expected to negatively impact the market. Additionally, the reduction in demand of power by 25-30% has been observed across countries like India which in turn will lead to less demand of engine stands from the energy and power sector. This decrease in demand, combined with slow recovery, would have a negative effect on the engine stand market across the region owing to the pandemic.
Strategic insights for the Asia Pacific Engine Stand provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 103.88 Million |
| Market Size by 2027 | US$ 132.91 Million |
| Global CAGR (2020 - 2027) | 3.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Engine Stand refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The engine stand market in APAC is expected to grow from US$ 103.88 million in 2019 to US$ 132.91 million by 2027; it is estimated to grow at a CAGR of 3.8% from 2020 to 2027. The adoption of advanced systems such as tracking devices in various equipment that are used in the aerospace industry is emerging as an important trend in the engine stand market. EngineStands24, one of the companies in the engine stand market, has recently improved its engine stands by adding new tracking devices in their existing stand offerings. EngineStands24is a subsidiary of Magnetic MRO who is a Total Technical Care provider for aircraft operators & lessors- has updated their engine stands by integrating new tracking devices. The tracking feature enables operators to trace engine stands in real-time, especially when it is transported/stored.
The APAC 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.
A few major primary and secondary sources referred to for preparing this report on the engine stand market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AGSE LLC; DAE Industries; DEDIENNE AEROSPACE; HYDRO SYSTEMS KG; Mahle GmbH; and Vega Aviation Products Pvt. Ltd.
The Asia Pacific Engine Stand Market is valued at US$ 103.88 Million in 2019, it is projected to reach US$ 132.91 Million by 2027.
As per our report Asia Pacific Engine Stand Market, the market size is valued at US$ 103.88 Million in 2019, projecting it to reach US$ 132.91 Million by 2027. This translates to a CAGR of approximately 3.8% during the forecast period.
The Asia Pacific Engine Stand Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Engine Stand Market report:
The Asia Pacific Engine Stand Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Engine Stand Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Engine Stand Market value chain can benefit from the information contained in a comprehensive market report.
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