South Korea Industrial Engine Market Size, Share, and COVID-19 Impact Analysis, By Horsepower (201 - 500 HP, 501 - 1000 HP, and Above 1000 HP), By Application (Power Generation and Construction), and South Korea Industrial Engine Market Industry Trend, Forecasts to 2035

South Korea Industrial Engine Market Insights Forecasts to 2035

• The South Korea Industrial Engine Market Size Was Estimated at USD 1032.1 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.25% from 2025 to 2035
• The South Korea Industrial Engine Market Size is Expected to Reach USD 1631.2 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Industrial Engine Market is anticipated to reach USD 1631.2 million by 2035, growing at a CAGR of 4.25% from 2025 to 2035. The rising demand for heavy-duty engines in construction, mining, agriculture, and marine sectors primarily drives market growth.

Report Coverage

This research report categorizes the market for South Korea industrial engine market based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea industrial engine market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea industrial engine market.

Market Segmentation

The South Korea industrial engine market share is classified into horsepower and application.

• The 201 - 500 HP segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea industrial engine market is segmented by horsepower into 201 - 500 HP, 501 - 1000 HP, and above 1000 HP. Among these, the 201 - 500 HP segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Its widespread use in construction, agriculture, and manufacturing equipment. These engines offer an optimal balance between power and fuel efficiency, making them ideal for mid-sized machinery and vehicles. As infrastructure development and mechanization increase across industries, demand for reliable mid-range engines continues to rise.

• The power generation segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea industrial engine market is segmented by application into power generation and construction. Among these, the power generation segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period. The rising demand for reliable backup and distributed power solutions. Industrial engines are widely used in diesel and gas generators to support critical infrastructure, especially during grid instability or peak load periods. The growing need for uninterrupted power in healthcare, data centers, and industrial facilities drives this segment. With increasing investments in energy infrastructure and emergency preparedness.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations companies involved within the South Korea industrial engine market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hyundai Doosan Infracore
• Hyundai Heavy Industries Engine & Machinery
• STX Engine
• Samhwa Powertech
• S&T Dynamics
• POSCO International
• Daedong Industrial
• Hyundai Construction Equipment
• Kohler Korea Ltd.
• Yanmar Korea Co., Ltd.
• Hanjin Heavy Industries
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea industrial engine market based on the below-mentioned segments:

South Korea Industrial Engine Market, By Horsepower

• 201 - 500 HP
• 501 - 1000 HP
• Above 1000 HP

South Korea Industrial Engine Market, By Application

• Power Generation
• Construction