The global diesel engine market size reached US$ 212.4 Billion in 2021. Looking forward, the market is expected to reach US$ 266.3 Billion by 2027, exhibiting at a CAGR of 3.75% during 2022-2027, according to the latest report by IMARC Group.
An internal combustion (IC) engine in which the air is compressed to a high temperature before being injected into a cylindrical vessel to ignite the fuel is known as a diesel engine. It transfers chemical energy held in huge tractors, marine boats, freight vehicles, and locomotives into mechanical energy that can be used to power them. Two-stroke and four-stroke diesel engines are commercially available. Diesel engines have higher thermal efficiency, durability, and torque when compared to other fuel engines. Because of these advantages, these engines are used in a variety of industries, including mining, construction, and agriculture.
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The growing demand for commercial and heavy-duty vehicles is driving the worldwide diesel engine industry. Furthermore, rising urbanisation and significant increase in the automobile sector, particularly in emerging economies, are accelerating the demand for an efficient power infrastructure, which is supporting market growth. As a result, manufacturers are producing modern diesel engine types with effective filtration and high-pressure fuel injection, which is driving the market forward. Furthermore, leading market companies are introducing diesel engines that can be used as backup generators, which is fueling market expansion. Other factors, like as intensive research and development (R&D) operations and the introduction of efficient and sustainable engines, are further enhancing the market’s favourable outlook.
Some of the major players in the market are
- ACGO Corporation,
- China FAW Group,
- Deere & Company,
- Continental AG,
- Delphi Automotive,
- Mitsubishi Heavy Industries,
- Ford Motor,
- General Motors,
- MAN SE,
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- Based on the power rating, the market has been segmented as 0.5 MW-1 MW, up to 0.5 MW, 2 MW-5 MW, 1 MW-2 MW, and above 5 MW.
- On the basis of the end user, the market has been bifurcated into the automotive and non-automotive industries.
- Region-wise, the market has been categorized into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
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