During the economic downturn, demand for industry products suffered as trade flows halted, causing freight operators to delay purchasing new heavy-freight trucks. As a result, truck manufacturers cut production levels, causing demand for new engines to fall significantly. Nevertheless, trade flows rebounded sharply following improved economic conditions and these negative trends reversed. Over the five years to 2014, industry revenue will likely surge high from its low recessionary base. Industry operators are anticipated to continue to rev their engines over the next five years, but growth will be more subdued. The global economy is anticipated to gain pace, resulting in heightened levels of international trade and demand for industrial goods. In turn, freight operators will order more engines and industrial firms will accelerate their purchases to meet demand for their goods.
This industry manufactures heavy-duty diesel engines. A diesel engine is an internal combustion engine that uses the heat of compression to initiate ignition to burn the fuel, which is injected into the combustion chamber. Top manufacturers include Cummins, Caterpillar and Navistar. These engines are used in highway vehicles (i.e. freight trucks) and machinery.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.