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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The diesel power engine market report table of contents includes:
1. Executive Summary
2. Diesel Power Engine Market Characteristics
3. Diesel Power Engine Market Trends And Strategies
4. Diesel Power Engine Market – Macro Economic Scenario
5. Global Diesel Power Engine Market Size and Growth
……………………………….
32. Global Diesel Power Engine Market Competitive Benchmarking
33. Global Diesel Power Engine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Diesel Power Engine Market
35. Diesel Power Engine Market Future Outlook and Potential Analysis
36. Appendix
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