Heavy-Duty Diesel Engine Manufacturing in the US - Industry Market Research Report
Description
Heavy-Duty Diesel Engine Manufacturing in the US
Heavy-duty diesel engine manufacturers primarily make products used in freight trucks and industrial machinery. When COVID-19 hit, businesses were shut down, so consumer spending plunged. Businesses shipped fewer goods in response to lower consumer spending, so demand for trucks and diesel engines fell, causing revenue to plunge in 2020. As the economy recovered from the pandemic, businesses displayed record sales, resulting in high corporate profit. More profit enabled companies to invest more in manufacturing equipment, so demand for heavy-duty diesel engines rose, benefiting the industry. Rising interest rates have reduced home buying, so demand for construction has fallen. Weak construction demand has reduced the need for trucks carrying building materials, so revenue has been hampered in recent years. Lower steel prices have also hurt manufacturers, as they can't pass high costs onto consumers. Overall, revenue for heavy-duty diesel engine manufacturers is anticipated to decline at a CAGR of 3.2% during the current period, reaching $31.1 billion in 2023. Revenue is forecast to creep upward 0.9% in that year.
This industry manufactures heavy-duty diesel engines. A diesel engine is an internal combustion engine that uses the heat of compression to initiate ignition and burn fuel. This fuel is then injected into the combustion chamber. These engines are used in highway vehicles (i.e. freight trucks) and machinery.
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.
Heavy-duty diesel engine manufacturers primarily make products used in freight trucks and industrial machinery. When COVID-19 hit, businesses were shut down, so consumer spending plunged. Businesses shipped fewer goods in response to lower consumer spending, so demand for trucks and diesel engines fell, causing revenue to plunge in 2020. As the economy recovered from the pandemic, businesses displayed record sales, resulting in high corporate profit. More profit enabled companies to invest more in manufacturing equipment, so demand for heavy-duty diesel engines rose, benefiting the industry. Rising interest rates have reduced home buying, so demand for construction has fallen. Weak construction demand has reduced the need for trucks carrying building materials, so revenue has been hampered in recent years. Lower steel prices have also hurt manufacturers, as they can't pass high costs onto consumers. Overall, revenue for heavy-duty diesel engine manufacturers is anticipated to decline at a CAGR of 3.2% during the current period, reaching $31.1 billion in 2023. Revenue is forecast to creep upward 0.9% in that year.
This industry manufactures heavy-duty diesel engines. A diesel engine is an internal combustion engine that uses the heat of compression to initiate ignition and burn fuel. This fuel is then injected into the combustion chamber. These engines are used in highway vehicles (i.e. freight trucks) and machinery.
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.
Table of Contents
43 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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