The small ice market in North America is expected to grow from US$ 822.68 million in 2020 to US$ 1175.51 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Stringent Emission Norms Creating Demand for Efficient Fuel Engines Governments of various countries are imposing certain regulations to control the emissions of internal combustion (IC) engines, which is pressurizing the engine makers toward downsizing and production of small-sized engines. Small internal combustion engines consume less fuel to generate sufficient power. They are known for providing high efficiency, which is augmenting the market growth. The emission monitoring and regulatory bodies, such as California Air Resources Board, EPA (The U.S. Environmental Protection Agency), and European Commission, are imposing stringent regulations on the use of internal combustion engine. To meet the regulatory standards—including EU stage V regulation and EPA Emission Standards Regulations—engine manufacturers are downsizing the engine capacity, which is propelling the market growth is also bolstering the growth of the industry. Thus, the growth in the sector is expected to create a significant demand for small ice in the coming years, which is further anticipated to drive the North America Small Internal Combustion Engine (ICE) market in North America.In the North American region, a slight decline in the demand for small ICE was witnessed owing to a halt in the construction, manufacturing, transportation and oil & gas industry. In Canada, construction and manufacturing projects deemed nonessential were shut down, and the essential projects are subject to public health guidelines. However, positive demand from power distribution as well as energy & infrastructures, particularly in on-shore wind, were noticed. Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for renewable energy projects. In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including renewable energy. The renewable energy industry in the US, including wind and solar power, has witnessed growth during the COVID-19 epidemic so far. Furthermore, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for small ICE used in infrastructure projects
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North America Small ICE Market Segmentation
Small ICE Market – By Fuel Type
- Gasoline
- Diesel
- Gas
Small ICE Market – By Gas Type
- CNG
- LPG
- LNG
Small ICE Market – By Cylinder
- 1
- 2
- 3
- 4
Small ICE Market – By Power Output
- 1-5 kW
- 6-10 kW
- 11-20 kW
Small ICE Market – By End-Use Industry
- Power Generation
- Manufacturing
- Oil and Gas
- Transportation
- Others
Small ICE Market – By Country
- United States
- Canada
- Mexico
Small ICE Market -Companies Mentioned
- Caterpillar Inc.
- Cummins, Inc
- Fairbanks Morse
- INNIO
- Kawasaki Heavy Industries, Ltd.
- Liebherr
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Rolls-Royce Holdings plc
- Wärtsilä Corporation
- YANMAR HOLDINGS CO., LTD.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.1 Ecosystem Analysis
4.2 Expert Opinion
5. North America Small Internal Combustion Engine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Emission Norms Creating Demand for Efficient Fuel Engines
5.1.2 Increase in Adoption of Small Off-Road Internal Combustion Engines
5.2 Market Restraints
5.2.1 Inclination Toward Electric Energy over Fossil Fuels
5.3 Market Opportunities
5.3.1 Increasing Consumption of Combustion Engines in Developing Countries
5.4 Future Trends
5.4.1 Integration of Turbocharging and Remote Monitoring
5.5 Impact Analysis of Drivers and Restraints
6. Small Internal Combustion Engine Market – North America Analysis
6.1 North America Small Internal Combustion Engine Market Overview
6.2 North America Small Internal Combustion Engine Market Revenue Forecast and Analysis
7. North America Small Internal Combustion Engine Market Analysis 2027 – by Fuel Type
7.1 Overview
7.2 North America Small Internal Combustion Engine Market Breakdown, by Fuel Type (2019 and 2027)
7.3 Gasoline
7.3.1 Overview
7.3.2 Gasoline Market Forecast and Analysis
7.4 Diesel
7.4.1 Overview
7.4.2 Diesel Market Forecast and Analysis
7.5 Gas
7.5.1 Overview
7.5.2 Gas Market Forecast and Analysis
7.5.3 Compressed Natural Gas (CNG)
7.5.3.1 Overview
7.5.3.2 Compressed Natural Gas (CNG): Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
7.5.4 Liquefied Petroleum Gas (LPG)
7.5.4.1 Overview
7.5.4.2 Liquefied Petroleum Gas (LPG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
7.5.5 Liquefied Natural Gas (LNG)
7.5.5.1 Overview
7.5.5.2 Liquefied Natural Gas (LNG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Small Internal Combustion Engine Market Analysis 2027– By Cylinders
8.1 Overview
8.2 North America Small Internal Combustion Engine Market Breakdown, by Cylinder, 2019 and 2027
8.3 1
8.3.1 Overview
8.3.2 1 Market Forecast and Analysis
8.4 2
8.4.1 Overview
8.4.2 2 Market Forecast and Analysis
8.5 3
8.5.1 Overview
8.5.2 3 Market Forecast and Analysis
8.6 4
8.6.1 Overview
8.6.2 4 Market Forecast and Analysis
9. North America Small Internal Combustion Engine Market Analysis 2027 – by Power Output
9.1 Overview
9.2 North America Small Internal Combustion Engine Market Breakdown, by Power Output, 2019 & 2027
9.3 1–5 kW
9.3.1 Overview
9.3.2 1–5 kW Market Forecast and Analysis
9.4 6–10 kW
9.4.1 Overview
9.4.2 6–10 kW Market Forecast and Analysis
9.5–20 kW
9.5.1 Overview
9.5.2–20 kW Market Forecast and Analysis
10. North America Small Internal Combustion Engine Market Analysis 2027– By End User
10.1 Overview
10.2 North America Small Internal Combustion Engine Market Breakdown, By End User, 2019 and 2027
10.3 Power Generation
10.3.1 Overview
10.3.2 Power Generation Market Forecast and Analysis
10.4 Manufacturing
10.4.1 Overview
10.4.2 Manufacturing Market Forecast and Analysis
10.5 Oil & Gas
10.5.1 Overview
10.5.2 Oil and Gas Market Forecast and Analysis
10.6 Transportation
10.6.1 Overview
10.6.2 Transportation Market Forecast and Analysis
10.7 Others
10.7.1 Overview
10.7.2 Others Market Forecast and Analysis
11. North America Small Internal Combustion Engine Market – Country Analysis
11.1 Overview
11.1.1 North America: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2 North America: Small Internal Combustion Engine Market, by Key Country
11.1.2.1 US: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.1.1 US: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.1.1.1 US: Small Internal Combustion Engine Market, by Gas
11.1.2.1.2 US: Small Internal Combustion Engine Market, by Cylinders
11.1.2.1.3 US: Small Internal Combustion Engine Market, by Power Output
11.1.2.1.4 US: Small Internal Combustion Engine Market, by End User Industry
11.1.2.2 Canada: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.2.1 Canada: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.2.1.1 Canada: Small Internal Combustion Engine Market, by Gas
11.1.2.2.2 Canada: Small Internal Combustion Engine Market, by Cylinders
11.1.2.2.3 Canada: Small Internal Combustion Engine Market, by Power Output
11.1.2.2.4 Canada: Small Internal Combustion Engine Market, by End User Industry
11.1.2.3 Mexico: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
11.1.2.3.1 Mexico: Small Internal Combustion Engine Market, by Fuel Type
11.1.2.3.1.1 Mexico: Small Internal Combustion Engine Market, by Gas
11.1.2.3.2 Mexico: Small Internal Combustion Engine Market, by Cylinders
11.1.2.3.3 Mexico: Small Internal Combustion Engine Market, by Power Output
11.1.2.3.4 Mexico: Small Internal Combustion Engine Market, by End User Industry
12. Impact of COVID-19 Pandemic on North America Small ICE Market
12.1 Impact of COVID-19 Pandemic On North America ICE Market
12.1.1 North America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Merger and Acquisition
13.2 New Development
14. Company Profiles
14.1 Caterpillar Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Kawasaki Heavy Industries, Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 MITSUBISHI HEAVY INDUSTRIES, LTD
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Liebherr
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Financial Overview
14.4.4 SWOT Analysis
14.4.5 Key Developments
14.5 YANMAR HOLDINGS CO., LTD.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Cummins, Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Fairbanks Morse
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 INNIO
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Wärtsilä Corporation
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Rolls-Royce Holdings plc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Small Internal Combustion Engine Market Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Small Internal Combustion Engine Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 7. US: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 11. Canada: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 12. Canada: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Small Internal Combustion Engine Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Million)
Table 14. Mexico: Small Internal Combustion Engine Market, by Gas – Revenue and Forecast to 2027 (US$ Million)
Table 15. Mexico: Small Internal Combustion Engine Market, by Cylinders – Revenue and Forecast to 2027 (US$ Million)
Table 16. Mexico: Small Internal Combustion Engine Market, by Power Output – Revenue and Forecast to 2027 (US$ Million)
Table 17. Mexico: Small Internal Combustion Engine Market, by End User Industry – Revenue and Forecast to 2027 (US$ Million)
Table 18. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Small ICE Market Segmentation
Figure 2. North America Small ICE Market Segmentation – By Country
Figure 3. North America Small ICE Market Overview
Figure 4. Gasoline Segment Held the Largest Share During Forecast Period
Figure 5. CNG Gas Type Segment Dominated the Gas Segment
Figure 6. 1 Cylinder ICE Dominated the Market
Figure 7.-20 kW ICE Dominated the Market
Figure 8. North America Small ICE Market, Country Analysis
Figure 9. North America: PEST Analysis
Figure 10. Small Internal Combustion Engine Market- Ecosystem Analysis
Figure 11. Expert Opinion
Figure 12. Small Internal Combustion Engine Market Impact Analysis of Drivers and Restraints
Figure 13. North America Small Internal Combustion Engine Market Revenue Forecast and Analysis (US$ Million)
Figure 14. North America Small Internal Combustion Engine Market Breakdown, by Fuel Type, 2019 & 2027 (%)
Figure 15. Gasoline Market Revenue and Forecast to 2027 (US$ Million)
Figure 16. Diesel Market Revenue and Forecast to 2027 (US$ Million)
Figure 17. Gas Market Revenue and Forecast to 2027 (US$ Million)
Figure 18. Compressed Natural Gas (CNG): Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Liquefied Petroleum Gas (LPG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Liquefied Natural Gas (LNG): North America Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Small Internal Combustion Engine Market Breakdown, By Cylinder Count, 2019 and 2027 (%)
Figure 22. 1 Market Revenue and Forecast to 2027 (US$ Million)
Figure 23. 2 Market Revenue and Forecast to 2027 (US$ Million)
Figure 24. 3 Market Revenue and Forecast to 2027 (US$ Million)
Figure 25. 4 Market Revenue and Forecast to 2027 (US$ Million)
Figure 26. North America Small Internal Combustion Engine Market Breakdown, by Power Output, 2019 & 2027 (%)
Figure 27. 1–5 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 28. 6–10 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 29.–20 kW Market Revenue and Forecast to 2027 (US$ Million)
Figure 30. North America Small Internal Combustion Engine Market Breakdown, By End User, 2019 and 2027 (%)
Figure 31. Power Generation Market Revenue and Forecast to 2027 (US$ Million)
Figure 32. Manufacturing Market Revenue and Forecast to 2027 (US$ Million)
Figure 33. Oil and Gas Market Revenue and Forecast to 2027 (US$ Million)
Figure 34. Transportation Market Revenue and Forecast to 2027 (US$ Million)
Figure 35. Others Market Revenue and Forecast to 2027 (US$ Million)
Figure 36. North America: Small Internal Combustion Engine Market – Revenue by Country to 2027 (US$ Million)
Figure 37. North America: Small Internal Combustion Engine Market Revenue Share, by Key Country (2019 and 2027)
Figure 38. US: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Canada: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Mexico: Small Internal Combustion Engine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Impact of COVID-19 Pandemic in North American Country Markets
- Caterpillar Inc.
- Cummins, Inc
- Fairbanks Morse
- INNIO
- Kawasaki Heavy Industries, Ltd.
- Liebherr
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Rolls-Royce Holdings plc
- Wärtsilä Corporation
- YANMAR HOLDINGS CO., LTD.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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