Engine & Turbine Manufacturing in the US
The Engine and Turbine Manufacturing industry includes diesel truck engines, power transmission turbines and industrial transmissions. Over the five years to 2019, the industry has contracted due to a sharp drop in oil prices in 2015 and 2016, which led to decline in the utilities sector. As oil prices fell to historic lows, so did incentives to adopt fuel-efficient engines and power generation systems; in turn, demand from truck transportation and private investment in industrial equipment and machinery declined. Over the five years to 2024, greater overall truck transportation in the United States will drive domestic diesel engine sales. Increased consumer spending will spur demand for freight and on-highway transportation. An increase in freight trucking, one of the industry's largest customers, leads to more sales of diesel engines.
Operators in this industry manufacture turbines and equipment used for power transmission, such as generators, in addition to diesel engines for highway vehicles and heavy-duty equipment. Parts and accessories are included, but wind turbines are excluded from this industry (see IBISWorld report 33361b).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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