The Crate Engines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Crate Engines Global Market Report 2024, The crate engines market size has grown strongly in recent years. It will grow from $24.76 billion in 2023 to $26.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to cultural influence and lifestyle trends, nostalgia and retro appeal, demand for comfortable riding, targeting a diverse consumer base, urban commuting and short trips, customization and personalization trends..
The crate engines market size is expected to see strong growth in the next few years. It will grow to $33.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to evolving consumer preferences, focus on sustainable transportation, increasing urbanization, promotion of recreational riding, global economic development.. Major trends in the forecast period include integration of advanced connectivity features, focus on lightweight and performance-oriented designs, customization and personalization options, introduction of adaptive cruise control, incorporation of advanced rider assistance systems (aras), development of retro-modern aesthetics..
An upsurge in motorsports racing is expected to propel the growth of the crate engine market going forward. Motorsports racing is a broad phrase that refers to competitive athletic activities involving the usage of motorized vehicles. Crate engines have become integral to motorsports racing by providing a balance between affordability, performance, and reliability, while also contributing to the diversity and inclusivity of racing competitions. For instance, in March 2023, according to Motorsport Network, a US-based advertising and technological firm, the increasing enthusiasm for the international car championship proved apparent in a stated overall spectator attendance of 5.7 million for the Formula 1 car racing championship, a 36% increase over 2019. Similarly, F1 car racing revenues increased by 20%, from $2.136 billion in 2021 to $2.573 billion in 2022. Therefore, an upsurge in motorsports racing is driving the crate engine market.
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The crate engines market covered in this report is segmented –
1) By Engine Type: New Engines, Rebuilt Engines, Remanufactured Engines, Used Engines
2) By Fuel Type: Gasoline, Diesel
3) By Capacity Type: 600-1000 CC, 1000-3000 CC, 3000-5000 CC, >5000 CC
4) By Sales Channel: Original Equipment Market, Aftermarket
Major companies operating in the crate engine market are focusing on developing advanced products such as the direct connection supercharged Hellephant series of crate engines to gain a competitive edge in the market. The Direct Connection supercharged Hellephant series of crate engines is the collection of the world's most potent production crate engines that provide three additional models with enhanced hardware and fuel systems to increase power output, in addition to the classic 1,000-horsepower Hellephant 426 Supercharged crate engine. For instance, in November 2022, Dodge Inc., a US-based manufacturer of crate engines launched the innovative and unique high-horsepower Direct Connection crate engines that include A30 Crate Engine, A170 Crate Engine, C30 Crate Engine, and C170 Crate Engine. This series of crate engines has the most formidable lineup of GENI HEMI-powered aluminum and cast-iron engines to date, ranging from about 900 to over 1,100 horsepower. Additionally, these crate engines include several upgrades such as a new 3.0L IHI supercharger with an improved intercooler, larger snout, and a 3.02-inch pulley for increased boost, cylinder heads with upgraded valve guide and seat material to optimize cylinder pressure capability and deliver maximum performance on premium or E85 fuel configurations.
The crate engines market report table of contents includes:
1. Executive Summary
2.Crate Engines Market Characteristics
3.Crate Engines Market Trends And Strategies
4.Crate Engines Market analysis
5.Crate Engines Market Size And Growth
6.Crate Engines Segmentation
7.Crate Engines Regional And Country Analysis
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27.Crate Engines Competitive Landscape And Company Profiles
28.Crate Engines Key Mergers And Acquisitions
29.Crate Engines Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Bayerische Motoren Werke AG
- American Honda Motor Company Inc.
- Hyundai Motor Company
- Mahle GmbH
- North American ATK Corporation
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