Middle East & Africa Small Internal Combustion Engine (ICE) Market
No. of Pages: 106 | Report Code: TIPRE00022763 | Category: Energy and Power
No. of Pages: 106 | Report Code: TIPRE00022763 | Category: Energy and Power
MEA is projected to witness a swift growth in new technology adoption and industrialization, further improving diverse industries. The Gulf countries are economically advanced, while the African countries still have to balance to match the economic condition of Gulf countries, such as the UAE and Saudi Arabia, due to lack of supporting infrastructure. At present, the Gulf countries are on the verge of adopting advanced engine technologies. Several factors, such as growing population, rising middle-class income, and increasing efforts to motivate businesses other than oil & gas industries, are likely to provide ample growth opportunities to the market players in MEA. Such improvements in the economic conditions help promote the growth of the natural gas consumption for engine applications. At present, the demand for small IC engine is low in the region; however, the demand would increase with growing investments in construction and power generation sector in the coming years. At present, various countries in the region are identifying the potentials of small IC engines in various industries in a bid to enhance the air quality of the countries. Small engine manufacturing companies are expanding their footprint in the region to improve their support for the customers. For instance, in September, 2020, Yanmar Co., Ltd., a Japan based company, has expanded their reach for Middle Eastern countries by establishing new office at the UAE, near Dubai Airport. Similarly, in March 2018, DEUTZ company has showcased their advanced gensets solution equipped with internal combustion engine ranging from 13kVA to 1,250 kVA at Middle East Electricity in Dubai exhibition. The engine manufacturing companies are targeting the Middle East and African region owing to potential opportunities for low priced small IC engines present in the market.
To reduce the impact of COVID–19, the governments in the MEA region have adopted contingency plans such as complete lockdown and a 24-hour sterilization program. The introduction of lockdowns has resulted in a halt of manufacturing and transportation activities in the region. The slowdown in manufacturing and transportation activities in the region has directly impacted small ICE sales in the region. Also, most businesses in the region have come to a halt and are expected to continue slower than the usual pace. The countries are taking significant containment measures to reduce the number of infected patients. COVID-19 pandemic outbreak, which has severely affected the manufacturing and transportation industry and oil & gas industry projects, resulted in the declining sales of the small ICE in the Middle East and Africa. Several giants in the African oil & gas industry, such as ExxonMobil, Total SE, BP, and Royal Dutch, reduced their CAPEX by more than 20% in 2020. It has resulted in getting upcoming projects delayed or stalled. The decline in FDI flows across the region. However, positive demand has been noticed from ongoing renewable energy projects in the MEA region
Strategic insights for the Middle East & Africa Small Internal Combustion Engine (ICE) 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 2020 | US$ 209.98 Million |
| Market Size by 2027 | US$ 289.39 Million |
| Global CAGR (2020 - 2027) | 4.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Fuel Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Small Internal Combustion Engine (ICE) 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 small ice market in MEA is expected to grow from US$ 209.98 million in 2020 to US$ 289.39 million by 2027; it is estimated to grow at a CAGR of 4.7% from 2020 to 2027. Rise in Adoption of Small Off-Road Internal Combustion Engines Small internal combustion engines have dominated the transportation industry. Their dominance is further increasing with the new emission controlling regulations. Small internal combustion engines are gaining major demand from off-road applications—such as construction machinery, home power generators, and lawn and gardening machineries—which is mounting the market growth. Market players are introducing new advancements in engines for improved performance and efficiency. For instance, in April 2019, Honda Motor Europe Ltd. introduced a new range of premium HRX lawn mowers. The specifically designed lawn mowers are equipped with small engines having power output below 5 kW. These new engines provide reliability and improved fuel efficiency with enhanced power capabilities. Companies are even running customer awareness campaigns to educate customers about new engine technologies. For instance, in May 2018, Briggs & Stratton Corporation, a manufacturer of small engines used by lawn and garden industry, launched an awareness advertising campaign to inform customers about its new engine technology. According to a survey conducted by the company on 500 lawn mower buyers, around 20% of them are upgrading the machine for new technology not due to maintenance problems or breakdowns. Such low ratio has made the Briggs & Stratton Corporation to run an awareness campaign to educate the customers about its new engines. Also, in August 2020, Generac Power Systems, Inc. launched a new robust 24 kilowatts generator for home use. This is bolstering the growth of the small ice market.
In terms of by End-Use Industry type, the Transportation segment accounted for the largest share of the MEA small ice market in 2019. In terms of End-Use Industry type, the Manufacturing segment is the fastest growing segment of the small ice market in 2019.
A few major primary and secondary sources referred to for preparing this report on the MEA small ice market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report Caterpillar Inc., Kawasaki Heavy Industries, Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD., Cummins, Inc, INNIO, Wärtsilä Corporation, Rolls-Royce Holdings plc
The Middle East & Africa Small Internal Combustion Engine (ICE) Market is valued at US$ 209.98 Million in 2020, it is projected to reach US$ 289.39 Million by 2027.
As per our report Middle East & Africa Small Internal Combustion Engine (ICE) Market, the market size is valued at US$ 209.98 Million in 2020, projecting it to reach US$ 289.39 Million by 2027. This translates to a CAGR of approximately 4.7% during the forecast period.
The Middle East & Africa Small Internal Combustion Engine (ICE) 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 Middle East & Africa Small Internal Combustion Engine (ICE) Market report:
The Middle East & Africa Small Internal Combustion Engine (ICE) Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Small Internal Combustion Engine (ICE) Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Small Internal Combustion Engine (ICE) Market value chain can benefit from the information contained in a comprehensive market report.
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