The global Diesel Engine market size is projected to grow from US$ 222,470 million in 2023 to US$ 285,560 million in 2030; it is expected to grow at a CAGR of X%. (Please specify t
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Introduction
The diesel engine is an internal combustion engine in which air is compressed inside the cylinder to ignite the fuel. Two main types of diesel engines are available in the market. They are two-stroke and four-stroke engines. Diesel engines can offer better operational performance, which makes them a preferred choice over petrol engines. The market is expected to witness high growth due to the rising demand for diesel engines from the automotive industries in APAC. The latest development observed in the market is the incorporation of exhaust after-treatment technologies. This technology aims to reduce emissions, and aid compliance with set standards and regulations.
Market Insights
The global Diesel Engine market size is projected to grow from US$ 222470 million in 2023 to US$ 285560 million in 2030; it is expected to grow at a CAGR of 3.6% from 2024 to 2030.
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The market has been witnessing a broad range of product enhancements and developments to comply with the international standard regulations of various regions such as Euro VI in Europe. One such development is the incorporation of exhaust after-treatment technology with the diesel engine. This technology enables low emissions from diesel engines and increases their efficiency and is likely to see increased market penetration in the coming years. Such product developments are expected to aid the market’s growth over the next several years.
Key Features
Trends:
Increasing Demand for Fuel-Efficient Vehicles: There is a growing consumer preference for vehicles with enhanced fuel efficiency, particularly in the commercial and industrial sectors. This trend is driven by rising fuel prices and stringent emissions regulations.
Adoption of Advanced Technologies: Manufacturers are increasingly incorporating advanced technologies such as turbochargers, common-rail fuel injection systems, and variable valve timing to improve the power output and efficiency of diesel engines.
Shift Towards Alternative Fuels: There is a gradual shift towards the use of alternative fuels, such as biodiesel and natural gas, in diesel engines to reduce emissions and dependency on traditional fossil fuels.
Stringent Emission Regulations: Governments around the world are implementing stricter emission regulations, which is driving the development of cleaner and more efficient diesel engine technologies.
Demand from Emerging Economies: The rising industrialization and infrastructure development in developing economies, such as China and India, is fueling the demand for diesel engines in various applications, including construction, agriculture, and power generation.
Drivers:
Increased Demand in the Transportation Sector: The growing demand for commercial vehicles, such as trucks and buses, is a major driver for the diesel engine market, as diesel engines are widely used in these applications.
Expanding Industrial and Construction Sectors: The increasing investment in industrial and construction projects, particularly in emerging economies, is driving the demand for diesel-powered equipment and machinery.
Advancements in Diesel Engine Technology: Continuous improvements in diesel engine technology, such as increased fuel efficiency, reduced emissions, and enhanced performance, are making diesel engines more attractive to consumers.
Growing Demand for Power Generation: The rising need for reliable and efficient power generation, especially in regions with limited access to electricity, is contributing to the growth of the diesel engine market.
Increasing Agricultural Mechanization: The growing mechanization of agricultural practices, especially in developing countries, is driving the demand for diesel-powered farm equipment and machinery.
Opportunities:
Expanding Market in Developing Economies: The rapid industrialization and infrastructure development in emerging markets, such as Asia-Pacific and Latin America, offer significant growth potential for the diesel engine market.
Demand for Hybrid and Electric Vehicles: The increasing adoption of hybrid and electric vehicles could create new opportunities for diesel engine manufacturers to develop more efficient and environmentally-friendly diesel engine technologies.
Aftermarket and Maintenance Services: The growing demand for aftermarket parts, maintenance, and repair services for diesel-powered vehicles and equipment presents a lucrative opportunity for market participants.
Advancements in Alternative Fuel Technologies: The development of advanced alternative fuel technologies, such as biodiesel and natural gas, could open up new avenues for diesel engine manufacturers to expand their product offerings.
Increasing Automation and Digitization: The integration of automation, IoT, and data analytics in diesel engine systems can enhance efficiency, performance, and maintenance, creating new market opportunities.
Threats:
Stringent Emission Regulations: The tightening of emission regulations, particularly in developed economies, is driving the need for more expensive and complex emission control technologies, which can impact the overall cost and competitiveness of diesel engines.
Rising Competition from Alternative Fuel Vehicles: The growing popularity of electric and hybrid vehicles, as well as the increasing adoption of alternative fuels such as natural gas, pose a threat to the traditional diesel engine market.
Volatility in Fuel Prices: Fluctuations in the prices of diesel fuel can affect the overall operating costs and profitability of diesel engine-powered applications, which can impact the market's growth.
Concerns over Environmental Impact: The environmental concerns surrounding the use of diesel engines, particularly regarding air pollution and greenhouse gas emissions, are leading to a shift in consumer preferences and government policies.
Technological Disruptions: Rapid technological advancements in engine design, materials, and manufacturing processes can disrupt the existing market dynamics and challenge the competitiveness of traditional diesel engine manufacturers.
Market Prospects: The global diesel engine market is expected to continue its growth trajectory in the coming years, driven by the increasing demand from various industrial and transportation sectors. However, the market will also face significant challenges and disruptions due to the shift towards cleaner and more sustainable energy solutions.
Market Segmentation
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Manmayi Raval
Research Consultant
Segmentation by type
Single Cylinder
Multi Cylinder
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The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Cummins
Caterpiller
Daimler
MAN
VOLVO
MHI
Deutz
Yanmar
Kubota
Weichai
Quanchai
Changchai
Yunnei Power
FAW
Kohler
DFAC
Yuchai
FOTON
CNHTC
JMC
Hatz
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Diesel Engine Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Diesel Engine by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Diesel Engine by Country/Region, 2019, 2023 & 2030
2.2 Diesel Engine Segment by Type
2.2.1 Single Cylinder
2.2.2 Multi Cylinder
2.3 Diesel Engine Sales by Type
2.3.1 Global Diesel Engine Sales Market Share by Type (2019-2024)
2.3.2 Global Diesel Engine Revenue and Market Share by Type (2019-2024)
2.3.3 Global Diesel Engine Sale Price by Type (2019-2024)
2.4 Diesel Engine Segment by Application
2.4.1 Automotive
2.4.2 Construction
2.4.3 Agriculture
2.4.4 Industrial
2.4.5 Other
2.5 Diesel Engine Sales by Application
2.5.1 Global Diesel Engine Sale Market Share by Application (2019-2024)
2.5.2 Global Diesel Engine Revenue and Market Share by Application (2019-2024)
2.5.3 Global Diesel Engine Sale Price by Application (2019-2024)
3 Global Diesel Engine by Company
3.1 Global Diesel Engine Breakdown Data by Company
3.1.1 Global Diesel Engine Annual Sales by Company (2019-2024)
3.1.2 Global Diesel Engine Sales Market Share by Company (2019-2024)
3.2 Global Diesel Engine Annual Revenue by Company (2019-2024)
3.2.1 Global Diesel Engine Revenue by Company (2019-2024)
3.2.2 Global Diesel Engine Revenue Market Share by Company (2019-2024)
3.3 Global Diesel Engine Sale Price by Company
3.4 Key Manufacturers Diesel Engine Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Diesel Engine Product Location Distribution
3.4.2 Players Diesel Engine Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Diesel Engine by Geographic Region
4.1 World Historic Diesel Engine Market Size by Geographic Region (2019-2024)
4.1.1 Global Diesel Engine Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Diesel Engine Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Diesel Engine Market Size by Country/Region (2019-2024)
4.2.1 Global Diesel Engine Annual Sales by Country/Region (2019-2024)
4.2.2 Global Diesel Engine Annual Revenue by Country/Region (2019-2024)
4.3 Americas Diesel Engine Sales Growth
4.4 APAC Diesel Engine Sales Growth
4.5 Europe Diesel Engine Sales Growth
4.6 Middle East & Africa Diesel Engine Sales Growth
5 Americas
5.1 Americas Diesel Engine Sales by Country
5.1.1 Americas Diesel Engine Sales by Country (2019-2024)
5.1.2 Americas Diesel Engine Revenue by Country (2019-2024)
5.2 Americas Diesel Engine Sales by Type
5.3 Americas Diesel Engine Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Diesel Engine Sales by Region
6.1.1 APAC Diesel Engine Sales by Region (2019-2024)
6.1.2 APAC Diesel Engine Revenue by Region (2019-2024)
6.2 APAC Diesel Engine Sales by Type
6.3 APAC Diesel Engine Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Diesel Engine by Country
7.1.1 Europe Diesel Engine Sales by Country (2019-2024)
7.1.2 Europe Diesel Engine Revenue by Country (2019-2024)
7.2 Europe Diesel Engine Sales by Type
7.3 Europe Diesel Engine Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Diesel Engine by Country
8.1.1 Middle East & Africa Diesel Engine Sales by Country (2019-2024)
8.1.2 Middle East & Africa Diesel Engine Revenue by Country (2019-2024)
8.2 Middle East & Africa Diesel Engine Sales by Type
8.3 Middle East & Africa Diesel Engine Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Diesel Engine
10.3 Manufacturing Process Analysis of Diesel Engine
10.4 Industry Chain Structure of Diesel Engine
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Diesel Engine Distributors
11.3 Diesel Engine Customer
12 World Forecast Review for Diesel Engine by Geographic Region
12.1 Global Diesel Engine Market Size Forecast by Region
12.1.1 Global Diesel Engine Forecast by Region (2025-2030)
12.1.2 Global Diesel Engine Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Diesel Engine Forecast by Type
12.7 Global Diesel Engine Forecast by Application
13 Key Players Analysis
13.1 Cummins
13.1.1 Cummins Company Information
13.1.2 Cummins Diesel Engine Product Portfolios and Specifications
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