South Korea Industrial Engine Market Size & Outlook

The industrial engine market in South Korea is expected to reach a projected revenue of US$ 1,263.9 million by 2030. A compound annual growth rate of 4.1% is expected of South Korea industrial engine market from 2025 to 2030.
Revenue, 2024 (US$M)
$1,002.1
Forecast, 2030 (US$M)
$1,263.9
CAGR, 2025 - 2030
4.1%
Report Coverage
South Korea

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South Korea industrial engine market, 2018-2030 (US$M)

South Korea industrial engine market, 2018-2030 (US$M)

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South Korea industrial engine market highlights

  • The South Korea industrial engine market generated a revenue of USD 1,002.1 million in 2024 and is expected to reach USD 1,263.9 million by 2030.
  • The South Korea market is expected to grow at a CAGR of 4.1% 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.


Industrial engine market data book summary

Market revenue in 2024USD 1,002.1 million
Market revenue in 2030USD 1,263.9 million
Growth rate4.1% (CAGR from 2025 to 2030)
Largest segment501 to 1000 hp
Fastest growing segmentAbove 1000 HP
Historical data2018 - 2023
Base year2024
Forecast period2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationUp to 200 HP, 201 to 500 HP, 501 to 1000 HP, Above 1000 HP
Key market players worldwideCaterpillar 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, South Korea accounted for 1.8% of the global industrial engine market in 2024.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In Asia Pacific, China industrial engine market is projected to lead the regional market in terms of revenue in 2030.
  • China is the fastest growing regional market in Asia Pacific and is projected to reach USD 16,468.8 million by 2030.

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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

South Korea 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 39.4% in 2024. Horizon Databook has segmented the South Korea 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.


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Target buyers of South Korea industrial engine market databook

  • Our clientele includes a mix of industrial engine market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea industrial engine market , including forecasts for subscribers. This country databook contains high-level insights into South Korea industrial engine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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South Korea By Horsepower - Industrial Engine Market size, 2024 - 2030 (US$M)

South Korea Industrial Engine Market Outlook Share, 2024 & 2030 (US$M)

South Korea By Horsepower - Industrial Engine Market size, 2024 - 2030 (US$M)

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