Crate Engines Market

Global Market Study on Crate Engines: Demand Surging for Use in Custom Hot Rods, Motorsports, and Street Builds

  • March-2021
  • PMRREP30281
  • 232 Pages
  • Automotive
  • PPT, PDF, WORD, EXCEL

About the Report

Demand for crate engines has witnessed steady growth over the last few years. This growth is projected to continue over the coming years as well, due to their increasing usage in place of internal combustion engines (IC engines) across the motorsport industry. These engines are usefulness across diverse applications, including general automobile engine replacement, custom hot rod street builds, and in motorsport competitions (asphalt, dirt track, drag racing, etc.). Considering this, increasing motorsport competitions and passenger & commercial vehicles will create rising scope for application, aiding market growth over the coming years.

In its new study, Persistence Market Research offers insights about key factors fueling the demand for crate engines. The report tracks global sales of crate engines in 20+ high growth market, where North America and Europe lead the way, along with analyzing the impact COVID-19 has had on the automotive industry in general, and demand for crate engines in particular.

Find Out More about the Report Coverage

Companies

  • Chevrolet
  • Ford Racing
  • Blueprint Engines
  • JEGS High Performance.
  • BluePrint Engines
  • Jasper Engines & Transmissions
  • EDELBROCK, LLC.
  • Custom Crate Engines
  • ATK High Performance Engines
  • West Coast Engines
  • HARLEY-DAVIDSON
  • Yoshimura R&D of America, Inc.
  • American Honda Motor Co., Inc.

Historical Market Trends Vs Future Outlook

The crate engines market has faced challenges such as high performance and cost efficiencies, which have always been the prime concerns for users. Choosing the correct crate engine for a specific application has been difficult for industries; hence, manufacturer have increased the number of features and efficiency in these engines with respect to industry specifics.

The market is likely to gain momentum significantly in the near future with economical and reliable solutions as opposed to engine overhauls or custom builds. This will aid accident-free operations with low maintenance and extended vehicle life. Some of the leading manufacturers have already launched high-performance crate engines, and several others are likely to follow suit to keep pace with the dynamic market environment.

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According to Persistence Market Research analysis, crate engine sales have increased at 2.3% CAGR from 2016 to 2020.

Crate engines have been consistently employed in the automotive industry. Owing to the ongoing crisis caused by the COVID-19 pandemic, production and supply chain activities have seen a minor slump; yet, consumption will improve with economic recovery post containment period following the pandemic.

The COVID-19 pandemic has had a severe impact on the global economy at various levels, and the impact is seen on the automotive industry as well. With a number of automotive manufacturers affected in regions such as North America and Europe, supply and shortage in demand are expected to result in a significant drop in Y-O-Y growth. Yet, Persistence Market Research expects the global crate engines market to expand at over 6% CAGR through 2031.

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What is Aiding Demand Growth for Crate Engines?

Crate engines are used in various applications, including motorsports competitions, automobile engine replacement, custom hot rod street builds, and marine engine replacements. Growing demand for high performance components in the automotive and marine sectors is a key driver for rising need for crate engines. Also, low maintenance and cost-efficient engines are opening new doors for market players.

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Why is R&D Key to Market Consolidation?

Prime manufactures are investing more in research & development activities to manufacture advanced and high performance crate engines. Competitive price offerings, increase in user satisfaction regarding performance, and use of advanced technologies are the end results of R&D activities. Increasing research & development through collaborations or partnerships helps companies launch new and innovative products in the market.

Moreover, establishing sales and service facilities in emerging countries, coupled with long-term partnerships with regional distributors, also paves the way for expansion of channel reach.

crate-engines-market

Country-wise Insights

Why is the U.S. a Large Market for Crate Engines?

Persistence Market Research has projected the U.S. to remain one of the most lucrative markets for crate engines throughout the course of the forecast period. One of the key factors supporting this is the sports-oriented population in this country, leading to increasing passion for motorsports. Moreover, the U.S. has also seeing an increase in the number of racing activities in past couple of years.

Attributing to these factors, the U.S. remains one of the largest markets for crate engines, which invariably makes it a lucrative pocket for manufacturers.

Why is Demand for Crate Engines in Germany Highest in Europe?

Being the largest shareholder in the European region, the market in Germany is pegged to expand at around 6% during 2021-2031. In recent years, manufacturers have been gradually developing a new customer base in the country.

As the German automotive sector is rising very well, demand is expected to surge. Drivers in the country demand or high-performance vehicles because motorsports competition events also increasing across the country.

How is India Faring in the Crate Engine Landscape?

India is the largest market in the South Asia & Pacific region for crate engines. The automotive industry has emerged as important end user in the country. The market in India is pegged to expand at a CAGR of close to 8% during 2021-2031, which is a considerable growth rate considering South Asia & Pacific.

Increase in the number of vehicles for passenger and goods transportation as well as growing fleet in the local automotive market has led to substantial growth of the crate engines market in India.

Why is there Huge Potential for Crate Engines in GCC Countries?

GCC countries such as Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar are expected to witness significant growth over the forecast period, owing to increasing investments by key players in the automotive market.

Why are Crate Engine Manufacturers Eyeing China?

The Chinese crate engine industry is expected to be amongst the most opportunistic after the U.S. and Germany, owing to increase automotive activities in the country. Along will more number of manufacturers in China, the automotive industry has also grown due to surging number of vehicles across the country.

Category-wise

Which CC Crate Engines are Most Widely Used?

Globally, >5000 CC crate engines are the most sought-after. The segment is expected to expand at a CAGR of more than 6% across 2021-2031. More number of product variants and specifications in the range of >5000 CC engines gives more flexibility for customers to choose the appropriate engine for specific applications.

Why are Rebuilt Crate Engines So Popular?

Over the forecast period, rebuilt crate engines will continue to account for close to 50% of the global market share, owing to versatile advantages such as extending the life of the engine and recycling engine parts to help reduce the amount of scrap in the environment.

Opportunities in Crate Engines Market

According to Persistence Market Research, demand for crate engines in racing activities and engine replacement will lead to lucrative growth opportunities. In addition, demand for crate engines with new and advanced technology is aiding market expansion. End consumers such as transportation and motorsport are demanding crate engines that can be used to make high-performance vehicles.

Competitive Landscape

The global crate engines market is dominated by a few, large-, medium-, and small-scale companies operating around the world. Top players cumulatively account for around 35% share in the global market. Most prominent players have bases in Europe and North America, as regional policies favor private sector involvement in automotive technology development. Also, these players have large R&D facilities, which gives them an edge over small players and startups.

Companies operating in the market plan to acquire and collaborate strategically with end consumers and regional distributors to meet the needs of an expanding consumer base. Suppliers of crate engines adopt acquisition and regional expansion strategies to establish a foothold in new and fast-growing markets.

Some of the leading companies operating in this space are:

  • Chevrolet
  • Ford Racing
  • Blueprint Engines
  • JEGS High Performance.
  • Jasper Engines & Transmissions
  • EDELBROCK, LLC.
  • Custom Crate Engines
  • ATK High Performance Engines
  • West Coast Engines
  • HARLEY-DAVIDSON
  • Yoshimura R&D of America, Inc.
  • American Honda Motor Co., Inc.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and Tons for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa,

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Engine Type
  • Fuel
  • CC
  • Region

Key Companies Profiled

  • Chevrolet
  • Ford Racing
  • Blueprint Engines
  • JEGS High Performance.
  • Jasper Engines & Transmissions
  • EDELBROCK, LLC.
  • Custom Crate Engines
  • ATK High Performance Engines
  • West Coast Engines
  • HARLEY-DAVIDSON
  • Yoshimura R&D of America, Inc.
  • American Honda Motor Co., Inc.

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

By Engine Type

  • New Engines
  • Rebuilt Engines
  • Remanufactured Engines
  • Used Engines

By Fuel

  • Gasoline
  • Diesel

By CC

  • 600-1000 CC
  • 1000-3000 CC
  • 3000-5000 CC
  • >5000 CC

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa

Key Questions Answered in Report

Q1. Which is the most lucrative market for crate engines?

USA currently leads the global market for crate engines. The share of the U.S. will be over 25% over the forecast period.

Q2. Which is an important type of crate engine?

Rebuilt engines are highly preferred for many applications. Demand for rebuilt engines is expected to be high in the near future, especially for extending engine life.

Q3. Which end-use application is demanding the most crate engines?

Crate engines are widely used in automotive industry-related applications. Usage in motorsports activities is rising day by day.

Q4. Which are some of the leading companies providing crate engines?

Some of the leading companies manufacturing crate engines are Chevrolet, Ford Racing, Blueprint Engines, JEGS High Performance, Jasper Engines & Transmissions, EDELBROCK, LLC., West Coast Engines, HARLEY-DAVIDSON, American Honda Motor Co., Inc., etc.

Q5. Which CC type is driving the sales of crate engines?

The higher CC (>5000 CC) is driving the sales of crate engines, because these are used more for a variety of applications and different purposes in the automotive industry.

Enquiry before Buying

Is this research conducted by Persistence Market Research?

Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Persistence Market Research?

Persistence Market Research follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request a detailed methodology.

Who are the respondents for primary research?

Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

What are the sources of secondary research?

Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request

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