North America Industrial Engine Market Size & Outlook
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North America industrial engine market highlights
- The North America industrial engine market generated a revenue of USD 15,377.7 million in 2024.
- The market is expected to grow at a CAGR of 6.5% from 2025 to 2030.
- In terms of segment, 501 to 1000 hp was the largest revenue generating by horsepower in 2024.
- Above 1000 HP is the most lucrative by horsepower segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 15,377.7 million |
| Market revenue in 2030 | USD 22,230.6 million |
| Growth rate | 6.5% (CAGR from 2025 to 2030) |
| Largest segment | 501 to 1000 hp |
| Fastest growing segment | Above 1000 HP |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Up to 200 HP, 201 to 500 HP, 501 to 1000 HP, Above 1000 HP |
| Key market players worldwide | Caterpillar Inc, Cummins Inc, General Electric, Deere & Co, Volvo Penta, MAN Energy Solutions, Honda Motor, Mitsubishi Heavy Industries Ltd, Yanmar, Kubota Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 27.0% of the global industrial engine market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 34,160.6 million by 2030.
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Industrial Engine Market Scope
Industrial Engine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Volvo Penta | View profile | 1001-5000 | Gothenburg, Vastra Gotaland, Sweden, Europe | http://www.volvopenta.com |
| Honda Motor | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | https://www.honda.co.jp |
| MAN Energy Solutions | View profile | 10001+ | Munich, Bayern, Germany, Europe | https://www.man-es.com/ |
| Yanmar | View profile | 1001-5000 | Adairsville, Georgia, United States, North America | http://yanmar.com |
| General Electric | View profile | 10001+ | Boston, Massachusetts, United States, North America | http://www.ge.com |
| Kubota Corp | View profile | 65532 | 2-47, Shikitsuhigashi 1-Chome, Naniwa-ku, Osaka, Japan, 556-8601 | http://www.kubota.co.jp |
| Cummins Inc | View profile | 75500 | 500 Jackson Street, Box 3005, Columbus, IN, United States, 47202-3005 | https://www.cummins.com |
| Mitsubishi Heavy Industries Ltd | View profile | 86331 | 2-3 Marunouchi 3-chome, Chiyoda-ku, Tokyo, Japan, 100-8332 | https://www.mhi.com |
| Deere & Co | View profile | 83000 | One John Deere Place, Moline, IL, United States, 61265 | https://www.deere.com |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
North America industrial engine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial engine market will help companies and investors design strategic landscapes.
501 to 1000 hp was the largest segment with a revenue share of 40.2% in 2024. Horizon Databook has segmented the North America industrial engine market based on up to 200 hp, 201 to 500 hp, 501 to 1000 hp, above 1000 hp covering the revenue growth of each sub-segment from 2018 to 2030.
North America accounted for the significant market share of over 27% in 2024, primarily driven by the region’s strong presence of manufacturing and construction industries, coupled with significant investments in infrastructure modernization and energy projects.
The demand for high-performance, fuel-efficient industrial engines is rising due to stringent emission regulations and the push for sustainability. The resurgence of the oil & gas sector and ongoing technological advancements in engine design and hybrid powertrains are further accelerating the adoption of the industrial engine industry.
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Our clientele includes a mix of industrial engine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America industrial engine market , including forecasts for subscribers. This continent databook contains high-level insights into North America industrial engine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America industrial engine market size, by country, 2018-2030 (US$M)
North America Industrial Engine Market Outlook Share, 2024 & 2030 (US$M)
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