Diesel Engines Market: A Global and Regional Analysis, 2023-2033

Feb 2024| BIS948A| BIS Research

Report Highlights

Thriving Growth in Diesel Engines Market: Key Players Steer Innovation and Market Dominance

The diesel engine market is experiencing notable growth driven by various factors. A significant contributor is the increased demand for reliable and continuous power supply, a niche where diesel engines excel, particularly in power generation applications. This expansion is also influenced by the escalating urbanization and industrialization, which spur the demand for diesel engines across sectors like construction, mining, marine, and others. Moreover, recent advancements by major companies in developing diesel engine platforms tailored for heavy-duty off-highway applications highlight the technological progress and commitment to meeting emissions standards, further propelling market growth.

However, the diesel engine market is expected to continue its upward trajectory during the forecast period, with a projected rise. This growth is anticipated to be propelled by the increasing electricity consumption and the necessity to meet energy demands with backup power solutions. Notably, high-speed engines, particularly those utilized in the power generation sector, are expected to witness significant growth, reflecting the crucial role of diesel engines in providing a dependable power source. Additionally, the power generation segment itself is anticipated to be the fastest-growing market segment, emphasizing the growing reliance on diesel engines for uninterrupted power supply across various operations. Following the Asia Pacific region, North America is poised to be the second fastest-growing region, driven by urbanization and the imperative to address aging infrastructures, which often result in power outages.

These growth drivers, coupled with strategic innovations and collaborations among key market players, are laying a sturdy groundwork for the expansion of the diesel engine market. Industry companies are concentrating on developing more efficient, cleaner, and technologically advanced diesel engines to align with evolving global regulations and meet consumer demands for environmentally friendly engines, thereby ensuring sustained growth during the projected period.

Market Segmentation:

Segmentation 1: by End User

  • Power Generation
  • Marines
  • Locomotives
  • Oil and Gas
  • Mining
  • Others

Segmentation 2: by Speed

  • Low
  • Medium
  • High

Segmentation 3: by Power Rating

  • Below 0.5 MW
  • 0.5-1.0 MW
  • 1.1-2.0 MW
  • 2.1-5.0 MW
  • Above 5.0 MW

Segmentation 4: by Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest-of-the-World

Report Synopsis

Report Metrics Details
Segments covered By End-user, By Speed, By Power Rating, By Region
Industry covered Automotive / Mobility
Regions covered North America, Europe, Asia-Pacific, The Middle East and Africa, South America
Countries covered U.S., Canada, Mexico, Germany, Italy, U.K., France, Rest-of-Europe, China, India, Japan, South Korea, Rest-of Asia-Pacific, Rest of the World
Companies studied
  • Caterpillar
  • Doosan Infracore
  • Cummins
  • Volvo Penta
  • Man Energy Solutions
  • Hyundai Heavy Industries Co., Ltd.
  • Wartsila
  • Mitsubishi Heavy Industries Engine and Turbochargers
  • Rolls-Royce Holdings
  • Kohler
  • Yanmar Holdings Co., Ltd.I
  • HI Power Sysytems Co., Ltd.
  • Daihatsu Diesel MFG.
  • FPT Industrial
  • The Liebherr Group

Key Questions Answered in this Report:

  • What are the main factors driving the demand for global diesel engines market?
  • What are the major patents filed by the companies active in the global diesel engines market?
  • What are the strategies adopted by the key companies to gain a competitive edge in diesel engines industry?
  • What is the futuristic outlook for the diesel engines in terms of growth potential?
  • Which application, and product segmentation is expected to lead the market over the period (2023-2033)?
  • Which region and country is expected to lead the market over the period (2023-2033)?

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