Global diesel engines market is expected to reach USD 11.46 Billion by 2025 at a CAGR of 4.5% during the forecast period from 2018-2025. The key contributing factor for the market growth is rising urbanization and industrialization across the world and the mounting need for reliable and uninterrupted power.
The diesel engine is defined as any internal-combustion engine in which air is compressed to an adequately high temperature to ignite diesel fuel injected into the cylinder, where combustion and expansion actuate a piston. It leads to the conversion of the chemical energy stored in the fuel into mechanical energy, which can then be used to power freight trucks, large tractors, locomotives, and marine vessels. Rudolf Diesel, a German engineer, comprehended the idea for the engine, which bears his name after. He wanted a device to enhance the efficiency of the Otto engine (the first four-stroke-cycle engine, built by the 19th-century German engineer Nikolaus Otto). A restricted number of automobiles are diesel-powered as well as some involves electric-power generator sets.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The diesel engines market is analyzed by value (USD Billion).
- The study delivers a comprehensive analysis of global diesel engines market by power rating, operation, end-user, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the diesel engines market. This report incorporates the industry analysis which is focused on providing an extensive view of the diesel engines market.
- The study also includes attractiveness analysis of power rating, operation, end-user and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the diesel engines market and a comparative analysis based on their business overviews, industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising demand for heavy-end equipment across several industries
- High penetration in various application areas including construction, automobiles, power & gas, etc.
- Diesel engines display high thermal efficiency, thereby, fuelling the demand
- Increasing urbanization and industrialization across the world
- The growing need for reliable and uninterrupted power
- Increase in operation and maintenance burden
- High demand for construction and auxiliary power equipment provides several market growth opportunities.
- Strict environmental and governmental regulations
- Rising use of natural gas for power generation
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately 43.20% in 2017.Asia-Pacific is dominating the market due to growing demand of diesel engines in countries such as China and India. Also, there is an increase in number of diesel vehicles plying on the roads in Asia Pacific countries.
The major players of market include Diesel Engines market are CGO Corporation, China FAW Group, Bosch, Deere & Company, Continental AG, Delphi Automotive, Mitsubishi Heavy Industries, Ford Motor, General Motors and MAN SE, Caterpillar Inc. (US), Wartsila (Finland), Cummins Inc. (US), Rolls-Royce (UK), and Mitsubishi Heavy Industries Ltd. (Japan) etc.For instance, in February 2019, Honda Cars India would launch three new special edition models in the Indian market powered by both petrol and diesel engine.
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