The diesel power engine global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Diesel Power Engine Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The diesel power engine market size has grown strongly in recent years. It will
grow from $7.69 billion in 2023 to $8.16 billion in 2024 at a compound annual
growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed
to increased industrialization, growth in transportation infrastructure, rising
demand for power generation, expansion of the agricultural sector, military
applications, rising demand for fuel efficiency, and government policies
promoting diesel usage.
The diesel power engine market size is expected to see strong growth in the
next few years. It will grow to $10.42 billion in 2028 at a compound annual
growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed
to growing demand for backup power solutions, rising investments in
infrastructure projects, expanding logistics and transportation industries,
increasing data center establishments requiring robust power solutions, and
expanding construction activities. Major trends in the forecast period include
advancements in fuel efficiency, advanced hybrid systems, integration of IoT
and AI technologies, growth in the use of biodiesel blends, and development of
smart engine management systems.
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Scope Of Diesel Power Engine Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Diesel Power Engine Market Overview
Market Drivers -
The expansion of the marine industry is expected to propel the growth of the
diesel power engine market going forward. The marine industry refers to the
sector that encompasses all activities related to the construction, operation,
and maintenance of vessels and structures used on or in the water. The marine
industry is expanding due to increasing global trade, offshore oil and gas
exploration, growing demand for seafood, rising marine tourism, and the
development of offshore renewable energy projects. Diesel power engines help
the marine industry by providing reliable and efficient propulsion for ships
and vessels, enabling long-distance travel, supporting heavy cargo transport,
and powering essential onboard systems for various marine applications. For
instance, in June 2023, according to the Bureau of Economic Analysis, a
US-based government agency for macroeconomic and industry statistics, the
marine economy represented 1.9% ($432.4 billion) of the U.S. GDP in 2021, up
from 1.7% ($363.2 billion) in 2020. It also accounted for 1.8% ($730.0 billion)
of the current-dollar gross output. Therefore, the expansion of the marine
industry is driving the growth of the diesel power engine market.
Market Trends -
Major companies operating in the diesel power engine market are adopting
digital solutions, such as predictive models, to improve maintenance planning
for optimal performance and reduced downtime. Predictive models are statistical
or machine learning techniques used to forecast future outcomes based on
historical data. For instance, in August 2023, Cummins Inc., a US-based engine
manufacturing and design company, launched an innovative predictive model for
the X15 heavy-duty engine. This technology notifies owners in advance when a
diesel particulate filter (DPF) differential pressure (DP) sensor is at risk of
failing. Customers receive predictive alerts up to 90 days before potential
sensor failure, enabling proactive scheduling of replacements to prevent
downtime. Predictive alerts are sent via email through PrevenTech or accessed
using Cummins' genuine service tools, such as Guidanz Mobile and INSITE. This
technology will offer customers predictive insights, allowing them to schedule
sensor replacements proactively, thus reducing downtime and enhancing
operational efficiency.
The diesel power engine market covered in this report is segmented –
1) By Type: On-Road Diesel Engine, Off-Road Diesel Engine, Other Types
2) By Operation: Standby, Prime, Peak Shaving
3) By Rated Power: Up To 0.5 Megawatts (MW), 0.5 To 1 Megawatts (MW), 1 To 2
Megawatts (MW), 2 To 5 Megawatts (MW), Above 5 Megawatts (MW)
4) By End-User: Industrial, Commercial, Residential
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Regional Insights -
Asia-Pacific was the largest region in the diesel power engine market in 2023.
The regions covered in the diesel power engine market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa.
Key Companies -
Major companies operating in the diesel power engine market are General
Electric Company, Caterpillar Inc., Deere & Company, HD Hyundai Infracore,
Mitsubishi Heavy Industries Ltd., Weichai Power Co. Ltd., Cummins Inc., Toyota
industries corporation, Isuzu Motors Limited, Kubota Corporation, Yanmar
Holdings Co. Ltd., Kohler Energy, Wärtsilä Oyj Abp, J.C. Bamford Excavators
Limited, MAN Energy Solutions SE, Cooper Corp., Woodward Inc., FPT Industrial
S.p.A., Deutz AG, Volvo Penta, Perkins Engines Company Limited, Lister Petter,
Motorenfabrik Hatz GmbH & Co. KG, Mahindra Powerol, Lombardini S.r.l.
Table of Contents
1. Executive Summary
2. Diesel Power Engine Market Report Structure
3. Diesel Power Engine Market Trends And Strategies
4. Diesel Power Engine Market – Macro Economic Scenario
5. Diesel Power Engine Market Size And Growth
…..
27. Diesel Power Engine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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