Crate Engines Market

Global Crate Engines Market Outlook (2023-2033)

In 2023, the Global Crate Engine Market will be worth US$ ­­­­­21,237.0 Mn. and is projected to expand steadily at a CAGR of 6.1 % to reach a market valuation of close to US$ 34,247.1 Mn by 2033.

Crate engines are replacement engines purchased new and complete, shipped in wooden crates. They can be standard or high-performance engines and are often purchased when buyers do not want to rebuild existing engines, or when they want to upgrade to engines that are more powerful. Crate engines come in a wide range of horsepower, up to 500hp and more.

Crate engines are not just for driving or automotive enthusiastic people. These engines are useful across diverse applications, including general automobile engine replacement, custom hot rod street builds, and in motorsport competitions (asphalt, dirt track, drag racing, etc.). Often vehicles are in perfectly good working condition except for their engine. Crate engine gives an economical option to people who opt to buy a new engine rather than go through the expense of buying a new car, especially if the vehicle is well-liked. This extends the life of the car as well as allows the owner to get more years out of their initial investment. This benefit creates several growth prospects for businesses in the crate engine market.

The U.S. is anticipated to hold prominent share of the market owing to a large number of Crate engine manufacturers in the region, which supplements the supply capability and domestic boost to the market. The crate engine market accounts for about 7 to 9% of the global automotive engine and engine part market.

Demand Analysis of Global Crate Engine (2017-2022) Vs. Market Forecasts (2023-2033)

From 2017 to 2022, the Global Crate Engine Market expanded at a CAGR of around 3.1 %.

The COVID-19 pandemic has had a severe impact on the global economy at various levels, and the impact is seen in the automotive industry as well.

The development and innovation of new motors and components of engines for managing a vehicle's performance are one of the key drivers of market expansion. The development of new economical engines is increasing market competition. Prime manufacturers are concentrating on a broad range of crate engines, such as low torque to high torque and low RPM to high RPM. Manufacturers use cutting-edge technology to redesign and remanufacture core components.

Rising vehicle modification trends, growth in the automotive sector, rising transportation sector, and changing government regulations for old vehicles are all important factors for the crate engine market. Engine and transmission component remanufacturing and modification are in high demand globally and are expected to remain a profitable segment for the duration of the forecast period. Persistence Market Research expects the market to expand at a ­­­6.1% CAGR through 2033.

What are the Key Opportunities for Crate Engine Market?

“Increasing motorsport competitions”

The popularity of motorsport competition across the globe is gaining traction these days owing to changes in the lifestyle and motorsport awareness amongst consumers. Technological advancements have had a direct impact on sports over the last two decades, leading to an increase in fan following.

Crate engines are widely used in motorsport competitions that require high performance. Crate engines play a significant role in racing cars and bikes, as they help increase the speed and performance of the car. Crate engines in racing cars and bikes are usually replaced after a span of two years.

Rising interest in motorsports events such as asphalt, drag racing, and dirt track racing, among others, is fuelling the demand for crate engines around the world. Crate engines are essential for these types of racing vehicles because it allow for faster acceleration and higher speeds.

Motorsports are widely popular in the U.S. and have gained an audience in new markets such as China and other countries over the last few years, which generates lucrative opportunities for the crate engine market across the globe.

What are the Recent Trends Impacting the Global Crate Engine Market?

“Fuel Efficient Crate Engines Gathering Demand”

In the automotive and marine industries, there is a growing demand for high-efficiency, high-performance engines. Furthermore, low-maintenance and cost-effective engines are providing new opportunities for market participants.

Energy-efficient crate engines generate a huge difference for the end users, especially in the transportation sector. For instance, small reductions in fuel consumption per hour can add up to significant savings in the marine transportation industry. Rising fuel prices and governments implementing new norms for the automobile sector to address the global warming issue create the need for efficient crate engines. These benefits create demand for fuel-efficient crate engines.

Engine manufacturers are using aluminium double overhead cylinders in crate engines over single overhead cylinders for enhanced performance and smooth high-rpm operation. Leading manufacturers are also focusing on reducing the weight of crate engines and making them compact in order to increase engine performance.

The cooling system of the crate engines plays an important role in the cooling of the engine under harsh working conditions. The cooling system improves the vehicle's fuel efficiency. Vehicles with effective cooling systems are in high demand in the end-use industry due to their high fuel consumption. Advances in technology in engine components, modification of mechanical components, and higher demand for optimal drive technologies have led automakers to incorporate these enhanced performance technologies in their engine. The use of high-performance components in the engine benefits the end user by increasing the vehicle's performance and efficiency.

Country-wise Insights

Which is the most prominent market for Crate Engine?

“U.S. is anticipated to hold the Prominent Market Share in Crate Engine market”

In 2023, the U.S. crate engine market is expected to account for approximately 20.4 % of the global market by value share. The U.S. holds a significant share of the global crate engine market owing to the customer base in these regions being more inclined to buy rebuilt and remanufactured engines for their vehicles. In addition, motorsport racing such as asphalt, drag racing, and dirt track racing is more popular in the U.S., and the growing demand for customized bikes and cars is generating a market for Crate Engine. Crate engines offer extra performance to automotive components with customizable options, which creates good demand from the industrial sector.

Which is the most prominent market for Crate Engine in Europe?

“Germany is anticipated to hold the Prominent Market Share in the European market”

In 2023, the German Crate Engine market is likely to hold around 47.3 % of the market by value share in Europe.

Germany is expected to play a critical role in raising industrial growth due to its extensive remanufacturing capabilities in the automobile industry. Factors such as the rapidly expanding automobile industry and increased research on high-output engines for motorsports are expected to drive market growth in this region.

In recent years, Manufacturers have gradually built a new customer base in the country in recent years. Demand is expected to surge as the German automotive industry performs well. Furthermore, as motorsports competition events are increasing across the Germany, hence vehicle owners demands high-performance vehicle which is driving the market's growth in the country.

Why is there a Huge Potential for Crate Engines in India?

"Crate Engine demand in India is predicted to grow at a 7.5% CAGR from 2022 to 2032"

India is the largest market for crate engines in South Asia and the Pacific region. Increased vehicle sales for passenger and goods transportation, as well as a growing fleet in the domestic automotive market, have resulted in significant growth of the crate engine market in India. The crate engines market in India is expected to grow at a steady rate over the forecast period.

Category Wise Insights

Which CC Crate Engines are Most Widely Used?

Globally, >5000 CC crate engines are in high demand. The segment is expected to grow at a CAGR of 6.4 % between 2023 and 2033. The marine industry required customized crate engines with a power of more than 5000cc. More product variants in the >5000 CC engine range allow end-users to select the appropriate engine for specific applications.

Why are Rebuilt Crate Engines So Popular?

Rebuild crate engines are expected to account for 50% of the global crate engine market. The key reason behind the popularity of rebuilt engines is their low cost. These engines have advantages like improving the life of the engine and recycling engine parts to help reduce the amount of scrap in the environment. A rebuilt crate engine will be more fuel-efficient and produce fewer pollutants than your old one. Rebuilding engines also saves energy from the processing of recycled engine parts.

Competitive Landscape

The Global Crate Engine market is highly competitive and consolidated in nature, with numerous significant businesses active in the field. Key firms are taking initiatives to grow their businesses and market share.

The majority of the players have bases in Europe and North America, where regional policies encourage private sector involvement in automotive technology development. In addition, Prime manufacturers are also updating their technologies to improve their market share. These players have large R&D facilities, which gives them an edge over competitors.

Suppliers of crate engines adopt strategic acquisition, collaboration, and regional expansion strategies to enhance their foothold in fast-growing markets. Some of the leading companies operating in this space are Chevrolet, Advance Auto Parts, FCA US LLC (Mopar), Jasper Engines & Transmissions, Dahmer Powertrain Inc, Jasper Engines & TransmissionS. American Honda Motor Co., Inc. and others.

Global Crate Engine Market Report Scope

Key Segments Covered in Crate Engine Market Analysis

Crate Engine Market by Capacity Type:

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

Crate Engine Market by Engine Type:

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

Crate Engine Market by Fuel Type:

• Gasoline
• Diesel

Crate Engine Market by Region:

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

To know more about delivery timeline for this report Contact Sales