According to the report titled ‘Heavy Duty Engines Market Size By Vehicle Class (Class 7, Class 8), By Horsepower (Below 400HP, 400HP - 500HP, 500HP - 600HP, Above 600HP), By End-user (Agriculture, Mining, Construction, Transportation & Logistics), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’ available with MarketStudyReport, global heavy duty engines market is expected to grow significantly during the period 2021-2027.
 

An increase in the production of heavy duty vehicles, the rapid expansion of mining and construction sectors leading to increased truck demand, and the proliferation in the logistics industry are factors propelling the growth of global heavy duty engines market.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4357571/
 

For the unversed, heavy-duty engines are the basic source of propulsion for heavy duty vehicles like trucks and buses.
 

Key engine manufacturers are investing heavily in the research and development of fuel-efficient engines with reduced emissions, and prominent players are adopting profitable strategies to gain a competitive edge, which are further accelerating the progress of the market.
 

Despite the positive outlook, strict regulations concerning vehicle emissions laid out by the authorities are likely to impede the industry development during the forthcoming years.
 

Based on horsepower, the 600 HP segment of the worldwide heavy duty engines industry is estimated to grow at 6% CAGR during the forecast period.
 

In terms of end-user, the mining segment accounted for 10% market share in 2020 and is anticipated to grow at a robust pace over the analysis period, due to surging utilization of heavy-duty vehicles in numerous operations.
 

From a regional standpoint, Europe market is poised to grow at a healthy rate of 5.5% during the projected timeline.
 

The competitive landscape of global heavy duty engines market is defined by companies such as Komatsu Ltd., Caterpillar Inc., Navistar International Corporation, Kirloskar Group, Mack Trucks Inc., Cummins Inc., Volvo Trucks Corporation, Hino Motors Ltd., PACCAR Inc., Isuzu Motors Ltd., Detroit Automobile Company, Mercedes-Benz, and Perkins Engines Company Limited among others.