Middle East & Africa High-Speed Engine Market to 2030 - By Size, Share, Growth by End User and Forecast

The Middle East & Africa high-speed engine market was valued at US$ 2,034.03 million in 2022 and is expected to reach US$ 2,884.71 million by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.

Rise in Marine Transportation Bolsters Middle East & Africa High-Speed Engine Market

The preference for marine transportation has increased in the past few years as it offers cheaper rates, is ideal for large volume goods, and easily connects with other parts of the world. One of the main benefits of marine transportation is shipping companies' ability to ship oversized, heavy loads that are commonly referred to as breakbulk or Not-in-trailer (NIT) loads. Large vehicles, equipment, construction materials, and other items might be transported as cargo. The process of carrying such cargo through the roadways and airways leads to several issues, such as high prices and difficulties in transportation due to the weight or size of the load. Thus, the adoption of marine transportation has increased. For instance, as per the data provided by the World Economic Forum in 2021, approximately 90% of the world's goods are transported by sea. As per the data published by the United Nations in 2023, the world commercial merchant fleet grew by 70 million deadweight ton (dwt). The following chart shows the increasing demand for ships in the commercial fleet.

Further, the growing adoption of ships boosts the demand for high-speed engines, as these engines play an important role in the overall operations of a ship. Thus, the rise in marine transportation drives the ABC high-speed engine market.

Middle East & Africa High-Speed Engine Market Overview

Over the past few years, governments of Middle Eastern countries have been focusing on strengthening their non-oil GDP. Thus, countries such as the UAE and Saudi Arabia are concentrating on the development of industries such as construction, mining, manufacturing, etc. In July 2023, the UAE entered into a US$ 1.9 billion agreement with the DR Congo's state mining corporation to develop four mines. Moreover, in January 2024, as part of its "Vision 2030" initiative to reshape and diversify its economy, the Saudi Arabian government added mining as a "pillar" of its industrial base. The Saudi government is further planning to extract US$ 2.5 trillion worth of metals from the mining industry. The rise in mining activities is projected to boost the demand for stable stationary power sources for carrying out mining operations, which is ultimately projected to fuel the need for high-speed engines in the coming years.

Middle East & Africa High-Speed Engine Market Revenue and Forecast to 2030 (US$ Million)

Get more information on this report

Middle East & Africa High-Speed Engine Strategic Insights

Strategic insights for the Middle East & Africa High-Speed Engine 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.

strategic-framework/middle-east-and-africa-high-speed-engine-market-strategic-framework.webp

Get more information on this report

Middle East & Africa High-Speed Engine Report Scope

Report Attribute	Details
Market size in 2022	US$ 2,034.03 Million
Market Size by 2030	US$ 2,884.71 Million
Global CAGR (2022 - 2030)	4.5%
Historical Data	2020-2021
Forecast period	2023-2030
Segments Covered	By Speed 1000-1500 rpm 1500-1800 rpm Above 1800 rpm By Power Output Less than 2 MW 2-4 MW Above 4 MW By End User Marine Power Generation Railway Oil and Gas
Regions and Countries Covered	Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	AB Volvo Caterpillar Inc MAN Energy Solutions SE Mitsubishi Heavy Industries Ltd Rolls-Royce Holdings Plc Wartsila Corp Weichai Heavy Machinery Co Ltd Yanmar Holdings Co Ltd Cummins Inc

Get more information on this report

Middle East & Africa High-Speed Engine Regional Insights

The geographic scope of the Middle East & Africa High-Speed Engine 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.

geography/middle-east-and-africa-high-speed-engine-market-geography.webp

Get more information on this report

Middle East & Africa High-Speed Engine Market Segmentation

The Middle East & Africa high-speed engine market is categorized into speed, power output, end user, and country.

Based on speed, the Middle East & Africa high-speed engine market is segmented into 1000-1500, 1500-1800, and above 1800. The 1500-1800 segment held the largest share of Middle East & Africa high-speed engine market share in 2022.

In terms of power output, the Middle East & Africa high-speed engine market is categorized into less than 2 MW, 2-4 MW, and above 4 MW. The less than 2 MW segment held the largest share of Middle East & Africa high-speed engine market in 2022.

By end user, the Middle East & Africa high-speed engine market is divided into marine, power generation, railway, and oil and gas. The marine segment held the largest share of Middle East & Africa high-speed engine market in 2022.

Based on country, the Middle East & Africa high-speed engine market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East and Africa. Saudi Arabia dominated the Middle East & Africa high-speed engine market share in 2022.

AB Volvo; Caterpillar Inc.; MAN Energy Solutions SE, Mitsubishi Heavy Industries, Ltd.; Rolls-Royce Holdings Plc; Wartsila Corp; Weichai Heavy Machinery Co., Ltd; YANMAR HOLDINGS Co, Ltd; and Cummins Inc. are some of the leading companies operating in the Middle East & Africa high-speed engine market.

Identical Market Reports with other Region/Countries