The latest report by IMARC Group, titled “Diesel Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global diesel engine market size reached US$ 220.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 274.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.63% during 2023-2028.
A diesel engine is an internal combustion engine that operates on diesel fuel, named after its inventor, Rudolf Diesel. It is a type of compression-ignition engine, which means that the ignition of the fuel is initiated by the heat generated through the compression of air in the engine’s cylinders rather than by a spark plug, as in gasoline engines. Diesel engines are known for their efficiency and durability. They are particularly favored for their high torque output, making them well-suited for heavy-duty and long-haul applications. One notable characteristic of these engines is their superior fuel efficiency compared to gasoline engines, as they extract more energy from each unit of fuel. They are widely used in tasks requiring high power and reliability due to their efficiency, durability, and longevity. At present, diesel engines find extensive applications in transportation, such as trucks, buses, trains, ships, and industrial machinery, including generators, construction equipment, and passenger vehicles.
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Diesel Engine Market Trends and Drivers:
The global diesel engine market is primarily driven by the rapid growth of the transportation and logistics sectors, particularly in emerging economies, which has augmented demand for diesel engines in trucks, buses, and commercial vehicles. Additionally, the efficiency and durability of diesel engines has accelerated their adoption in heavy-duty applications in industries such as construction, agriculture, and mining, thus propelling market growth. Moreover, the implementation of stringent emissions regulations that prompt the development of cleaner and more fuel-efficient diesel engines has catalyzed market growth. Besides this, the heightened focus on alternative fuels, including biodiesel and renewable diesel, that expands the use of diesel engines as part of sustainable transportation solutions is another major growth-inducing factor. Furthermore, ongoing advancements in engine technology, such as turbocharging and electronic control systems, that enhance the performance and fuel efficiency of diesel engines are contributing to market growth. Other factors, including rising product adoption in backup power generation in critical facilities and industries, the rapid expansion of the marine and shipping industry, and increasing industrialization and infrastructure development, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Power Rating:
- 0.5 MW–1 MW
- Up to 0.5 MW
- 2 MW–5 MW
- 1 MW–2 MW
- Above 5 MW
Breakup by End-User:
- Automotive
- On-Road
- Light Vehicles
- Medium/Heavy Trucks
- Light Trucks
- Off Road
- Industrial/Construction Equipment
- Agriculture Equipment
- Marine Applications
- On-Road
- Non-Automotive
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape With Key Players:
- AGCO Corporation
- China First Automobile Works (FAW) Group Corporation
- Robert Bosch GmbH
- Deere & Company
- Continental AG
- Delphi Automotive System Private Limited
- Mitsubishi Heavy Industries, Ltd.
- Ford Motor Company
- General Motors Company
- MAN SE
- Wärtsilä Oyj Abp
- Cummins, Inc.
- Caterpillar
- Rolls-Royce Motor Cars Limited
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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