Global Engines & Gensets Industry Outlook

The global Engines and Gensets Outlook is expected to grow from estimated USD 401.95 billion in 2024 to USD 417.31 billion by 2025, at a YoY increase of 3.8%. The engines and gensets outlook highlights that both industries are experiencing significant growth driven by the rising demand for fuel-efficient, low-emission engines and reliable power solutions. Engine, which convert fuel into mechanical energy, play a crucial role in industries such as automotive, marine, aerospace, and power generation, thanks to their durability, scalability, and ability to handle high loads in both small- and large-scale applications. Similarly, gensets are becoming indispensable for ensuring a steady power supply in critical sectors like healthcare, telecommunications, and IT, especially in the face of frequent power outages and frail grid infrastructure. The rapid pace of industrialization and urbanization, including infrastructure projects like buildings, roads, and airports, has further accelerated demand. Moreover, the shift towards renewable energy and hybrid gensets highlights the market’s inclination toward cleaner, more efficient solutions, making engines and gensets pivotal in addressing global energy challenges.

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According to the Engines and Gensets Outlook, gasoline-powered engines, by fuel type, are projected to become the second-largest segment in the engine market during the forecast period.

Gasoline is expected to account for the second largest market share by fuel type during the forecast period. According to the U.S. Energy Information Administration (EIA), gasoline consumption in the transportation sector accounted for more than 90 % which fueled more than 270 million vehicles. Continuous advancements in gasoline engine technology, such as turbocharging, direct fuel injection, and variable valve timing, have significantly improved the fuel efficiency of gasoline engines. Gasoline engines are also widely used in light commercial vehicles (LCVs), motorcycles, and recreational vehicles. Gasoline engines account for a substantial portion of the overall engine market and help sustain gasoline’s dominant position.

Stand By segment by Application, is expected to be the fastest Generator Market during the forecast period.

Stand By application is anticipated to account for the largest market share during the given forecast period. The demand is viewed especially regarding the availability of backup power in sectors that are most vulnerable, including healthcare and data center, and also in the commercial segment. Power supply fluctuations especially ever registered power supply downturns as well as a increasing demand for uninterrupted power both in the developed as well as the emergent markets have been resulting to this growth due to the ability of businesses to minimize power outage time and aim at having uninterrupted power.

Commercial segment by end-user, is expected to be the fastest Generator Market during forecast period

The commercial part of end users is growing fast for several reasons: assiulation of various industries, increased pressure on efficient and cost-effective business processes, and the subscription-based emerging models. Companies remain committed to acquiring applications and solutions that optimize operational efficiency and interact with consumers. Furthermore, the increasing popularity of the approach based on data analysis is closely connected with the notion of marketing that helps firms adapt their offerings to the customers and enhance their loyalty.

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Power Generation segment by end-user, is expected to be the fastest Engines Market during forecast period

The market for engines by end user is anticipated to be the fastest growing segment in the market during the forecast period owing to the rising demand for reliable and efficient energy sources worldwide. The provision of such backup power solutions is what drives this growth, and it is primarily in areas that experience frequent outages. Furthermore, during the increasing integration of renewable energy, flexible engine systems are needed to accommodate variable power supply. Investments in power generation engines are supported by government initiatives to create energy independence and sustainability. The performance and efficiency of engines used in this segment become better every day, and adoption follows. Asia Pacific is expected to be the fastest region in the Engines Market during the forecast period.

The demand for the Engines Market is expected to increase in the Asia pacific region which is primarily due to the rapid industrialization and urbanization, thus resulting in high demand for the energy as well as transportation solutions. Several emerging economies live in this region, such as China and India, where the infrastructure development and the auto production are booming fast. Government initiatives to clean up the environment are also creating deeper pockets for innovative and investment in advanced engine technologies. Having a rising population and urban Centers,5 increases the demand for efficient power generation systems and transportation systems. Additionally, the strong manufacturing sector of the Asia Pacific region is likely to help its production and adoption of various engine types to provide the market with gains.

The report profiles key players such as Caterpillar (US), Cummins Inc. (US), General Electric Company (US), RTX (US), General Motors (US), Rolls-Royce Plc (UK), Mitsubishi Heavy Industries, Ltd. (Japan), Honeywell International Inc. (US), AB Volvo (Sweden), Scania (Sweden).

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Asia Pacific is expected to be the fastest region in the Generator Market during the forecast period

The major end users sectors such as residential, commercial and industrial sectors including utilities/power generation, oil & gas, chemical & petrochemical, mining & metal, manufacturing, marine construction and others to boost the Generator Market in Asia Pacific region. The microenvironment of the region is expanding thanks to the development of large-scale giants comprising China, India, South Korea, Japan, Indonesia as well as Australia. The Asia-Pacific region has rapidly become one of the world’s hotspots in manufacturing activities and growth, touching nearly every industry.

The report profiles key players such Caterpillar (US), Cummins Inc. (US), Rolls-Royce Holdings (UK), Generac (US), Mitsubishi Heavy Industries (Japan), MAN Energy Solutions (Germany) and Briggs & Stratton (US).

Exploring the Growth of the Heat Pump Market Across North America

The global Heat Pump Market is expected to reach USD 157.8 billion by 2029 from USD 90.1 billion in 2024 at a CAGR of 11.8% during the 2024-2029 period. The heat pump market in the US witnessed substantial growth owing to the growing adoption of energy-efficient systems, favorable governmental incentives for renewable energy adoption, and the need to reduce carbon emissions. As such, heat pumps are a key enabler of the transition to sustainable energy solutions, offering a scalable and efficient alternative to near-term residential, commercial, and industrial space heating and cooling.

Some of the top companies in the US market include Carrier, Trane Technologies plc, DAIKIN INDUSTRIES, Ltd., Lennox International, and Mitsubishi Electric. Carrier is one of the leading providers of HVAC systems; they offer different heat pump solutions for both residential and commercial applications. They are highly recognized for innovative technologies and energy-efficient products. It has operations in 180 countries, such as the US, the UK, India, and China. The company has 51 factories and 39 R&D centers. The other giant in the HVAC world is Trane Technologies plc, which specializes in energy-efficient and environmentally friendly heat pumps. They sell products to residential and commercial markets. The company operates in 60 countries. DAIKIN INDUSTRIES, Ltd. is one of the world's largest manufacturers of HVAC systems. The company has a strong presence in the US market. Their heat pump systems are reliable, energy-saving, and eco-friendly. DAIKIN INDUSTRIES, Ltd. has over 100 industrial plants in over 150 countries.

 

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These companies are focusing on research and development activities for new and innovative heat pumps to be developed that can cater to consumer demand in the market while maintaining strong market footprints. For instance, in November 2023, DAIKIN INDUSTRIES, Ltd. launched new air-to-air heat pumps. The refrigerant is difluoromethane (R32) in the new products. The VRV 5 systems are in two models. They are the Mini-VRV system, with a maximum output of 33.5 kW, and the Top-Blow series, which reaches 56 kW. In September 2023, Carrier introduced the AquaForce 61CW-Z. Its power range is between 410 kW to 735 kW. It can attain a temperature of up to 92°C. It is recommended for district heating networks and industrial process heating systems. In addition, in September 2023, Trane Technologies plc launched the Thermal Battery Storage-Source Heat Pump System, which brings both heating and cooling under one electric solution and can be up to three times more efficient than traditional heating methods. Commonly called ice storage, thermal energy storage ice tanks act like batteries. In June 2022, The Department of Energy announced that Lennox International has become its first partner in the Residential Cold Climate Heat Pump Technology Challenge. Cold climate heat pumps are designed to deliver efficient heating even in freezing temperatures while emitting no greenhouse gases.

 

The key factors driving the growth of the US market include the ongoing implementation of regulations and policies by the government to reduce the carbon footprint, coupled with the increasing investments in the installation of energy-efficient technologies in new infrastructure development projects and expanding residential and commercial sectors. The increase in the number of initiatives taken by the government to achieve energy efficiency in the residential and commercial sectors has surged the adoption of heat pumps in new and existing residential and commercial buildings. Besides, there has been an increase in focus on the use of renewable energy in the past few years. For example, in February 2024, the DOE released a notice of availability of $63 million that can accelerate the growth rate of domestic manufacture of residential heat pumps along with heat pump water heaters and other miscellaneous components. This investment under President Biden's Inflation Reduction Act—which President Biden has invoked under his emergency authority as justified by climate change—is making use of the Defense Production Act to ramp up the domestic production of key clean energy technologies, including electric heat pumps.

 

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Technological advancement, sustainability goals, and supportive government policies are pushing the heat pump expansions further in the U.S. market. Industry stakeholder collaboration, investment in research and development, and education of consumers will be very important in making heat pump technology realize its full potential in delivering energy efficiency and reduction in carbon emissions.

North America Leads the Charge: Biorefinery Market worth $314.62 Billion by 2029

The global Biorefinery Market is expected to grow from estimated USD 212.05 billion in 2024 to USD 314.62 billion by 2029, at a CAGR of 8.2% during the forecast period. The US biorefinery market is an emerging sector in the global market and is expected to grow exponentially with increased demand for renewable energy fuels that biorefineries can produce biofuels and bio-based products. Feedstocks in the US, such as corn stover, wheat straw, and forest residues, are abundant for use in biorefinery operations. The emerging markets for new opportunities involve industries in growth: bioplastics, bio-lubricants, and bio-based textiles. Focus on waste management and resource efficiency further accelerates the usage of waste streams as feedstocks for biorefineries. Together, these factors fuel more uptake of sustainable solutions toward energy independence and environmental objectives for the U.S. market for biorefineries. 

According to the USDA, for commercial-scale purposes, it has an influence on global markets while the country generates and utilizes renewable energy from agricultural and forestlands. Among them, biofuel is a great contribution, taking a significant amount from gasoline usage within the US transportation sector. Significant biofuels are ethanol, mainly from maize, biodiesel, and renewable diesel, both of which are derived from vegetable oils, animal fats, waste oils, and greases. In 2022, the United States produced approximately 15.4 billion gallons of ethanol and 3.1 billion gallons of biodiesel/renewable fuel.

 

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The latest bioenergy report by IEA reveals that 637 biorefineries have been discovered in the United States in 2022. It has more biorefineries in the world than other significant countries. The total production capacity of biofuels as of January 2023 stood at 23 billion gallons per year (gal/y), according to the EIA. Compared to the same time in January 2022, this reflects a growth of 6%. Of these, fuel ethanol enjoys the highest market share with 78%, renewable diesel and other biofuels are 13%, and biodiesel holds a 9% market share. As stated in the IEA's report on bioenergy, the US has 637 biorefineries up to 2022. Among major countries, the largest share of biorefineries is accounted for by the US. Total biofuel production capacity was at 23 billion gallons per year as of January 2023, 6% above that of January 2022. Fuel ethanol accounted for 78% of the biofuel production capacity, followed by renewable diesel and other biofuels at 13%, and biodiesel at 9%.

 

Many key players in the industry are shaping the United States' biorefinery industry through strategic activities, and companies are using innovation, partnership, and expansion plans for market share and industry leader position. These activities also contribute to innovation in renewable energy sources and the relative positioning of the United States globally. In August 2022, Chevron began building an expansion of its biorefinery at Emden, Germany. This capacity-expanding expansion includes the addition of a pretreatment system at the site and should further position the company to be able to more readily handle a greater diversity of feedstocks that are expected to come to the production line in biodiesel form. The Emden expansion initiative benefits both facilities, allowing the enterprise to upgrade certain feedstocks associated with low carbon intensity, such as those categorized as 'Generation 3' feedstocks under the RED II. Therefore, it will also play a great role in making market growth possible.

 

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There are several players headquartered in the US that offer hydrogen energy storage, such as Chevron, ADM, Valero, Honeywell International Inc., and Green Plains Inc., among others. To establish a strong product portfolio for the biorefinery market, these companies adopt strategic developments such as collaboration, agreements, and contracts, among others. Chevron is one of the major fuel cell manufacturing and sales companies. The company has a broad product portfolio. The company is making significant investments in research & development. It spent approximately 0.16% of its revenue on R&D activities to gain its position in the market. Similarly, ADM is one of the major companies operating in human and animal nutrition. The company is also considered one of the world's largest nutrition companies. It utilizes the power of nature to transform crops into ingredients and solutions for food, beverages, and supplements for people across the globe. The company also offers a wide-ranging set of solutions and services for livestock, aquaculture, and pets. The company is a link in the global food supply chain that provides ingredients for food, animal feed, industrial applications, and renewable fuels. In October 2021, ADM and Solugen joined forces to meet the growing demand for sustainable products by establishing its first biomanufacturing facility in the U.S. Midwest. ADM is to supply dextrose as feedstock to enable the production of plant-based organic acids for various industrial and consumer applications. The use of this feedstock to produce lower-carbon organic acids at scale and in developing new molecules as sustainable alternatives to fossil fuel-based materials represents an important step forward for both companies committed to sustainable solutions and minimized environmental impact. Such strategic partnerships will boost the biorefinery market in the US.

 

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The expansion of biorefineries in the U.S. is driven by favorable governmental policies like the Renewable Fuel Standard and ample supply of feedstocks in the form of agricultural residues and forestry byproducts, which are boosting the growth of biorefineries within the United States. Improvement in the field of biotechnology, together with the ever-rising demand for renewable energy sources and bio-based products, accelerates this growth further. Corporate sustainability objectives, the circular economy drive, and innovations in waste management add to the enhanced adoption rates of biorefineries. These work together to favor energy independence, environmental sustainability, as well as low-carbon alternatives advancing in the American biorefinery industry.

How Portable Power Stations Are Revolutionizing Off-Grid Living in North America

The global Portable Power Station Market is projected to grow from USD 0.5 billion in 2023 to USD 1.1 billion by 2028, at a CAGR of 18.4% during the 2023-2028. The portable power station market in the U.S. is experiencing significant growth, driven by several factors. The rising popularity of outdoor activities such as camping and recreation, stringent emission control regulations, and increasing interest in smart grid technologies are fueling this expansion.

 

The U.S. portable power station market comprises several major players, such as Goal Zero, Jackery, EcoFlow, Lion Energy, Milwaukee Tool, and Anker Innovations. Goal Zero is a subsidiary of NRG Energy Inc., a retailer and seller of electronic gear specializing in various products like solar panels, portable power stations, and lighting kits. Goal Zero specializes in off-grid from less than 500 Wh to more than 1,500 Wh. Jackery specializes in outdoor and solar-ready power stations that boost mobile and outdoor living. Their products have foldable solar panels, making them easy to carry and operate and perfect for outdoor enthusiasts. Jackery has a significant presence in North America, offering its products through various online retailers and direct retail outlets to ensure accessibility and have a robust online presence.

 

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These companies use strategic choices like joint ventures, treaties, and partnerships to enrich their portable power station portfolio. In 2023, Jackery unveiled a new Explorer 3000Pro portable power station, which can hold 3024 Wh. Its batteries can satisfy the appliance demands for outdoor use. It can take in both direct and solar-generated power inputs. In April 2023, the company Anker Innovations partnered with Oceana, a campaign group that is fighting to save the oceans. This collaboration will support Oceana's efforts to protect the waters globally, particularly its efforts to reduce plastic pollution, and will complement Anker’s expansion of sustainable business practices. Anker will supply Oceana with mobile charging solutions, portable power stations, and solar panels for their research trips and outreach programs.

 

There are some critical factors driving this high increase in portable power stations in the US. The demand for reliable and convenient power sources has increased, especially for outdoor recreational activities such as camping, hiking, and RVing. As more people spend more time outdoors, their need for portable power solutions has sharply increased. Moreover, the frequency and intensity of occurrence of natural disasters have placed increasingly more significant emphasis on standby power as a preparatory measure against emergency conditions when portable power stations are allowed to operate the required electronic devices for effective usage in case blackouts occur. Portable batteries also improved considerably with efficient and economical design, which in turn reached out to a more extended consumer market. With these driving forces, the US portable power station market is optimally positioned for the long-haul growth path in the future years.

 

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Outdoor recreation activities, such as camping, amount to ~2.3% of the country's GDP or USD 639.5 billion according to reports from the US Bureau of Economic Analysis as of 2023. Growth in the industry is an outcome of the strong penchant of Americans for outdoor experience as well as the rising populations of younger and more diverse-aged campers. The demand for camping has presented an overall cultural transition to embrace nature and sustainability. Younger generations seeking more affordable and adventurous, yet environmentally friendly ways of going outdoors now prefer traveling longer in more remote regions. Thus, this increase in outdoor activity has resulted in a greater demand for portable power solutions for campers who rely more on electronics for navigation, communication, safety, and recreational purposes. These are now a necessity to a modern-day camper's toolbox and provide reliable power to charge smartphones, cameras, portable fridges, etc. Charge-by-solar energy aligns perfectly with the eco-awareness campers of the younger generation and drives acceptance. The variously differentiated landscapes of America, such as national parks and state-run and private campgrounds, afford vast opportunities for camping, increasing the demand for portable power.

Brushless DC Motor Market: Everything You Need to Know

The global Brushless DC Motor Market Size is expected to reach USD 17.6 billion by 2028 from USD 12.1 billion in 2023 at a CAGR of 7.9% during the 2023-2028 period according to a new report by MarketsandMarkets™. Brushless DC motors are synchronous electric motors that are driven by direct current (DC). They are also known as electronically commutated motors (EC motors). These motors are highly efficient in producing a large amount of torque over broad speed ranges. In brushless DC motors, permanent magnets rotate around fixed armatures, thereby overcoming the problem of connecting current to armatures. Brushless DC motors are used in various applications owing to their compactness, lightweight, and low maintenance requirements.

 

The increasing adoption of Brushless DC motors is driven by their precise speed control, low maintenance requirements, and high efficiency. Brushless DC motors offer enhanced reliability, reduced electromagnetic interference, and compact designs, making them essential in applications where these attributes are critical, such as in medical devices, aerospace, and automation equipment.

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By Type Segmentation

 

Based on type, the Brushless DC Motor Market has been segmented into inner rotor and outer rotor. Inner rotor brushless DC motor are in high demand across a wide range of sectors due to its compact design, higher power density, and superior efficiency. Inner rotor motors offer faster response times and better heat dissipation, making them ideal for applications where space and weight are critical factors. Additionally, the inner rotor design allows for a direct connection to the load, enhancing overall system efficiency and performance, which contributes to its dominant market share.

 

By End Use Application Segmentation

 

This report segments the Brushless DC Motor Market based on end user into consumer electronics, automotive, manufacturing, medical devices, and others. Others include HVAC, agricultural, solar pumps, and aerospace & defence applications. The consumer electronics segment is expected to be the second fastest-growing segment during the forecast period due to the increasing demand for energy-efficient and compact solutions in devices like smartphones, laptops, and household appliances. Brushless DC motors offer precise control, longer lifespan, and reduced noise, making them well-suited for applications in consumer electronics. As technology evolves and consumers prioritize high-performance and energy-efficient gadgets, the demand for brushless DC motors in this segment continues to surge, contributing to its rapid growth.

 

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Regional Analysis

 

North America is expected to be the second-largest Brushless DC Motor Market during the forecast period. The North America region has been subdivided into three key countries: US, Canada and Mexico. The regio n's emphasis on automation in industries, such as manufacturing and healthcare, is driving the demand for efficient and reliable brushless DC motors. Additionally, the rising awareness of environmental sustainability has fueled the growth of electric vehicles, further boosting the demand for these motors. Favorable government initiatives and investments in renewable energy projects are also contributing to the region's prominence in the Brushless DC Motor Market.

 

Key Players

 

Some of the major players in the Brushless DC Motor Market are Ametek Inc. (US), Allied Motion, Inc. (US), NIDEC Corporation (Japan), MinebeaMitsumi Inc. (Japan), and Johnson Electric Holdings Limited (China).